Ubiquiti Networks, Inc. (NASDAQ:UBNT) was the recipient of a large decrease in short interest in the month of August. As of August 15th, there was short interest totalling 6,842,154 shares, a decrease of 14.7% from the July 31st total of 8,016,664 shares. Currently, 29.8% of the company’s stock are short sold. Based on an average daily trading volume, of 748,323 shares, the short-interest ratio is currently 9.1 days.

Ubiquiti Networks (UBNT) opened at 58.97 on Friday. The firm’s 50-day moving average is $59.85 and its 200 day moving average is $52.42. Ubiquiti Networks has a 12-month low of $45.71 and a 12-month high of $67.80. The firm has a market cap of $4.74 billion, a PE ratio of 19.08 and a beta of 0.48.

Ubiquiti Networks (NASDAQ:UBNT) last posted its quarterly earnings data on Thursday, August 3rd. The Wireless communications provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. The company had revenue of $228.60 million for the quarter, compared to analyst estimates of $219.14 million. Ubiquiti Networks had a net margin of 29.76% and a return on equity of 45.87%. The business’s quarterly revenue was up 23.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 earnings per share. Equities research analysts predict that Ubiquiti Networks will post $3.61 EPS for the current year.

In related news, insider Robert J. Pera sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $61.25, for a total transaction of $61,250,000.00. Following the sale, the insider now directly owns 56,278,181 shares of the company’s stock, valued at approximately $3,447,038,586.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. 70.34% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Nationwide Fund Advisors raised its stake in shares of Ubiquiti Networks by 1.2% in the first quarter. Nationwide Fund Advisors now owns 66,630 shares of the Wireless communications provider’s stock worth $3,349,000 after buying an additional 793 shares during the period. Wells Fargo & Company MN raised its stake 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 worth $7,554,000 after buying an additional 8,091 shares during the period. OLD National Bancorp IN raised its stake in shares of Ubiquiti Networks by 21.3% in the first quarter. OLD National Bancorp IN now owns 11,362 shares of the Wireless communications provider’s stock worth $571,000 after buying an additional 1,992 shares during the period. Hussman Strategic Advisors Inc. raised its stake in shares of Ubiquiti Networks by 100.0% in the first quarter. Hussman Strategic Advisors Inc. now owns 100,000 shares of the Wireless communications provider’s stock worth $5,026,000 after buying an additional 50,000 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Ubiquiti Networks by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 153,402 shares of the Wireless communications provider’s stock worth $7,710,000 after buying an additional 1,024 shares during the period. Institutional investors own 30.95% of the company’s stock.

UBNT has been the topic of several recent research reports. Vetr downgraded shares of Ubiquiti Networks from a “strong-buy” rating to a “buy” rating and set a $65.54 target price on the stock. in a research note on Wednesday. Zacks Investment Research raised shares of Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Wednesday, May 10th. Deutsche Bank AG upped their target price on shares of Ubiquiti Networks from $38.00 to $40.00 and gave the stock a “hold” rating in a research note on Monday, May 8th. Credit Suisse Group reaffirmed a “sell” rating and set a $54.00 target price on shares of Ubiquiti Networks in a research note on Friday, August 4th. Finally, ValuEngine downgraded shares of Ubiquiti Networks from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. 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 assigned a strong buy rating to the company’s stock. Ubiquiti Networks currently has an average rating of “Hold” and an average price target of $56.31.

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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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