Ubiquiti Networks, Inc. (NASDAQ:UBNT) insider Robert J. Pera sold 1,000,000 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $61.25, for a total value of $61,250,000.00. Following the sale, the insider now owns 56,278,181 shares of the company’s stock, valued at approximately $3,447,038,586.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Ubiquiti Networks, Inc. (UBNT) opened at 59.59 on Friday. Ubiquiti Networks, Inc. has a 52-week low of $45.71 and a 52-week high of $67.80. The company’s 50 day moving average price is $59.64 and its 200 day moving average price is $52.36. The firm has a market cap of $4.79 billion, a PE ratio of 19.28 and a beta of 0.48.

Ubiquiti Networks (NASDAQ:UBNT) last announced its quarterly earnings results on Thursday, August 3rd. The Wireless communications provider reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.06. Ubiquiti Networks had a net margin of 29.76% and a return on equity of 47.10%. The firm had revenue of $228.60 million during the quarter, compared to the consensus estimate of $219.14 million. During the same period last year, the firm earned $0.69 EPS. The business’s quarterly revenue was up 23.1% compared to the same quarter last year. Analysts predict that Ubiquiti Networks, Inc. will post $3.61 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN increased its position in shares of Ubiquiti Networks by 5.7% in the first quarter. Wells Fargo & Company MN now owns 150,286 shares of the Wireless communications provider’s stock valued at $7,554,000 after buying an additional 8,091 shares during the last quarter. Regal Investment Advisors LLC purchased a new position in shares of Ubiquiti Networks during the first quarter valued at approximately $2,468,000. AXA increased its position in shares of Ubiquiti Networks by 162.9% in the first quarter. AXA now owns 18,400 shares of the Wireless communications provider’s stock valued at $925,000 after buying an additional 11,400 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of Ubiquiti Networks by 0.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 43,943 shares of the Wireless communications provider’s stock valued at $2,209,000 after buying an additional 298 shares during the last quarter. Finally, Lazard Asset Management LLC increased its position in shares of Ubiquiti Networks by 26.0% in the first quarter. Lazard Asset Management LLC now owns 3,683 shares of the Wireless communications provider’s stock valued at $185,000 after buying an additional 760 shares during the last quarter. 30.95% of the stock is owned by hedge funds and other institutional investors.

Several analysts have recently issued reports on UBNT shares. BidaskClub upgraded Ubiquiti Networks from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Vetr downgraded Ubiquiti Networks from a “strong-buy” rating to a “buy” rating and set a $55.50 price target for the company. in a research note on Monday, June 26th. Zacks Investment Research upgraded Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research note on Wednesday, May 10th. ValuEngine downgraded Ubiquiti Networks from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, Deutsche Bank AG boosted their price objective on Ubiquiti Networks from $38.00 to $40.00 and gave the stock a “hold” rating in a research report on Monday, May 8th. One analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $56.31.

About Ubiquiti Networks

Ubiquiti Networks, Inc develops performance networking technology for service providers and enterprises. The Company offers a portfolio of networking products and solutions. Its service provider product platforms provide carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems and routing.

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