Barings LLC reduced its stake in Ubiquiti Networks Inc (NASDAQ:UBNT) by 27.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,000 shares of the Wireless communications provider’s stock after selling 3,800 shares during the period. Barings LLC’s holdings in Ubiquiti Networks were worth $989,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Russell Investments Group Ltd. purchased a new stake in Ubiquiti Networks during the third quarter worth about $178,000. First Trust Advisors LP increased its stake in Ubiquiti Networks by 683.1% during the third quarter. First Trust Advisors LP now owns 429,092 shares of the Wireless communications provider’s stock worth $42,420,000 after purchasing an additional 374,299 shares during the period. First Hawaiian Bank purchased a new stake in Ubiquiti Networks during the third quarter worth about $530,000. Zweig DiMenna Associates LLC purchased a new stake in Ubiquiti Networks during the third quarter worth about $267,000. Finally, Daiwa SB Investments Ltd. increased its stake in Ubiquiti Networks by 60.8% during the third quarter. Daiwa SB Investments Ltd. now owns 73,957 shares of the Wireless communications provider’s stock worth $7,311,000 after purchasing an additional 27,963 shares during the period. Hedge funds and other institutional investors own 26.06% of the company’s stock.
In other news, VP Benjamin Moore sold 100,000 shares of the business’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $87.91, for a total transaction of $8,791,000.00. Following the completion of the transaction, the vice president now directly owns 673,206 shares of the company’s stock, valued at $59,181,539.46. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 70.34% of the company’s stock.
A number of brokerages have issued reports on UBNT. BidaskClub upgraded shares of Ubiquiti Networks from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 14th. Credit Suisse Group set a $73.00 price target on shares of Ubiquiti Networks and gave the stock a “hold” rating in a research note on Wednesday, July 18th. Zacks Investment Research lowered shares of Ubiquiti Networks from a “buy” rating to a “hold” rating in a research note on Sunday, July 15th. Bank of America boosted their price target on shares of Ubiquiti Networks from $52.50 to $62.00 and gave the stock an “underperform” rating in a research note on Monday, October 29th. Finally, ValuEngine lowered shares of Ubiquiti Networks from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $75.62.
Shares of NASDAQ:UBNT opened at $93.01 on Friday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 7.96 and a current ratio of 8.87. The stock has a market cap of $6.52 billion, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 1.89 and a beta of 1.19. Ubiquiti Networks Inc has a 1 year low of $49.40 and a 1 year high of $101.33.
Ubiquiti Networks (NASDAQ:UBNT) last announced its quarterly earnings data on Friday, August 24th. The Wireless communications provider reported $1.01 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.01. Ubiquiti Networks had a return on equity of 69.24% and a net margin of 19.30%. The business had revenue of $269.80 million during the quarter, compared to the consensus estimate of $256.03 million. During the same period in the previous year, the company posted $0.75 earnings per share. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. Analysts anticipate that Ubiquiti Networks Inc will post 3.4 EPS for the current fiscal year.
Ubiquiti Networks Company Profile
Ubiquiti Networks, Inc develops networking technology for service providers, enterprises, and consumers. It focuses on three principal technologies, including high-capacity distributed Internet access, unified information technology, and consumer electronics for home and personal use. The company's service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, and other WLAN products, as well as offers consumer products under the Ubiquiti Labs brand name.
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