Swiss National Bank Has $1,972,000 Position in Ubiquiti Networks Inc. (UBNT)
Swiss National Bank cut its stake in shares of Ubiquiti Networks Inc. (NASDAQ:UBNT) by 2.1% during the second quarter, Holdings Channel reports. The institutional investor owned 51,000 shares of the company’s stock after selling 1,100 shares during the period. Swiss National Bank owned 0.06% of Ubiquiti Networks worth $1,972,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in Ubiquiti Networks during the second quarter valued at $236,000. Menta Capital LLC purchased a new position in Ubiquiti Networks during the first quarter valued at $250,000. Fox Run Management L.L.C. purchased a new position in Ubiquiti Networks during the first quarter valued at $253,000. Parametrica Management Ltd purchased a new position in Ubiquiti Networks during the second quarter valued at $303,000. Finally, Bayesian Capital Management LP boosted its position in Ubiquiti Networks by 8.1% in the first quarter. Bayesian Capital Management LP now owns 9,300 shares of the company’s stock valued at $309,000 after buying an additional 700 shares in the last quarter. 30.22% of the stock is owned by institutional investors and hedge funds.
Ubiquiti Networks Inc. (NASDAQ:UBNT) traded up 1.60% on Wednesday, reaching $53.41. The company had a trading volume of 192,342 shares. Ubiquiti Networks Inc. has a 12-month low of $25.75 and a 12-month high of $54.00. The stock’s 50-day moving average price is $50.89 and its 200-day moving average price is $40.59. The stock has a market capitalization of $4.37 billion, a P/E ratio of 21.45 and a beta of 1.33.
Ubiquiti Networks (NASDAQ:UBNT) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.05. The company earned $185.70 million during the quarter, compared to the consensus estimate of $174.47 million. Ubiquiti Networks had a return on equity of 47.65% and a net margin of 32.06%. The firm’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.50 EPS. On average, equities research analysts anticipate that Ubiquiti Networks Inc. will post $2.78 EPS for the current fiscal year.
Several equities research analysts have issued reports on the company. Wunderlich raised their price target on Ubiquiti Networks from $48.00 to $55.00 and gave the company a “buy” rating in a report on Friday, August 5th. Zacks Investment Research raised Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a report on Tuesday, August 9th. Deutsche Bank AG set a $31.00 price target on Ubiquiti Networks and gave the company a “hold” rating in a report on Friday, August 5th. Finally, Morgan Stanley set a $35.00 price target on Ubiquiti Networks and gave the company a “sell” rating in a report on Thursday, August 11th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $37.11.
In related news, VP Benjamin Moore sold 150,000 shares of the stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $51.20, for a total transaction of $7,680,000.00. Following the sale, the vice president now owns 758 shares of the company’s stock, valued at approximately $38,809.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 69.08% of the company’s stock.
About Ubiquiti Networks
Ubiquiti Networks, Inc, develops high performance networking technology for service providers and enterprises. The Company’s technology platforms for service providers enable carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems and routing. The Company’s technology platforms for enterprises enable wireless local area network (WLAN) infrastructure, video surveillance products, and machine-to-machine communications.
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