Ubiquiti Inc. $UI Shares Acquired by Quantbot Technologies LP

Quantbot Technologies LP lifted its stake in Ubiquiti Inc. (NYSE:UI) by 67.3% in the second quarter, HoldingsChannel reports. The firm owned 6,762 shares of the company’s stock after acquiring an additional 2,719 shares during the quarter. Quantbot Technologies LP’s holdings in Ubiquiti were worth $2,784,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Federated Hermes Inc. acquired a new stake in Ubiquiti in the 1st quarter valued at about $404,000. US Bancorp DE grew its position in shares of Ubiquiti by 2.4% during the first quarter. US Bancorp DE now owns 1,564 shares of the company’s stock worth $485,000 after buying an additional 37 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Ubiquiti during the first quarter worth approximately $92,000. Invesco Ltd. raised its holdings in Ubiquiti by 8.1% in the first quarter. Invesco Ltd. now owns 13,265 shares of the company’s stock valued at $4,114,000 after acquiring an additional 989 shares in the last quarter. Finally, Entropy Technologies LP purchased a new position in Ubiquiti in the first quarter worth approximately $327,000. Hedge funds and other institutional investors own 4.00% of the company’s stock.

Insider Buying and Selling at Ubiquiti

In other news, CAO Kevin Radigan sold 350 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $576.58, for a total transaction of $201,803.00. Following the transaction, the chief accounting officer directly owned 2,768 shares in the company, valued at approximately $1,595,973.44. This trade represents a 11.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 93.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on UI. Barclays increased their price objective on shares of Ubiquiti from $299.00 to $455.00 and gave the company an “underweight” rating in a research report on Tuesday, November 11th. UBS Group set a $600.00 target price on shares of Ubiquiti in a research note on Monday, August 25th. Zacks Research upgraded Ubiquiti from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. BWS Financial reaffirmed a “buy” rating and set a $720.00 price target on shares of Ubiquiti in a report on Tuesday, November 11th. Finally, Wall Street Zen cut Ubiquiti from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Ubiquiti presently has an average rating of “Moderate Buy” and an average target price of $591.67.

Ubiquiti Price Performance

Shares of UI opened at $567.68 on Friday. Ubiquiti Inc. has a 1-year low of $255.00 and a 1-year high of $803.59. The stock has a market cap of $34.34 billion, a PE ratio of 43.40 and a beta of 1.38. The firm has a fifty day moving average price of $656.32 and a 200 day moving average price of $528.20.

Ubiquiti (NYSE:UI) last posted its earnings results on Friday, November 7th. The company reported $3.46 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.98. Ubiquiti had a return on equity of 132.71% and a net margin of 28.72%.The business had revenue of $733.77 million for the quarter, compared to analysts’ expectations of $702.38 million. As a group, equities analysts expect that Ubiquiti Inc. will post 7.21 EPS for the current fiscal year.

Ubiquiti Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 17th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, November 17th. Ubiquiti’s dividend payout ratio is presently 24.46%.

Ubiquiti Profile

Ubiquiti Inc develops networking technology for service providers, enterprises, and consumers. The company develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use. Its service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing and related software; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, door access systems, and other WLAN products.