Ubiquiti Inc. $UI Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC decreased its holdings in Ubiquiti Inc. (NYSE:UI) by 29.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,616 shares of the company’s stock after selling 6,513 shares during the quarter. Squarepoint Ops LLC’s holdings in Ubiquiti were worth $8,339,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Goldman Sachs Group Inc. raised its stake in Ubiquiti by 33.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 33,836 shares of the company’s stock valued at $10,494,000 after acquiring an additional 8,551 shares during the period. Woodline Partners LP lifted its stake in shares of Ubiquiti by 22.1% in the 1st quarter. Woodline Partners LP now owns 1,214 shares of the company’s stock worth $377,000 after purchasing an additional 220 shares during the period. Jane Street Group LLC lifted its stake in shares of Ubiquiti by 12.9% in the 1st quarter. Jane Street Group LLC now owns 13,768 shares of the company’s stock worth $4,270,000 after purchasing an additional 1,570 shares during the period. Cetera Investment Advisers purchased a new position in shares of Ubiquiti in the second quarter worth approximately $312,000. Finally, Legal & General Group Plc boosted its holdings in shares of Ubiquiti by 23.2% in the second quarter. Legal & General Group Plc now owns 792 shares of the company’s stock worth $326,000 after buying an additional 149 shares during the last quarter. 4.00% of the stock is currently owned by hedge funds and other institutional investors.

Ubiquiti Stock Up 3.1%

Shares of Ubiquiti stock opened at $536.62 on Friday. The firm has a market cap of $32.48 billion, a P/E ratio of 33.86 and a beta of 1.31. Ubiquiti Inc. has a fifty-two week low of $500.23 and a fifty-two week high of $1,099.99. The business has a 50-day moving average price of $558.69 and a 200 day moving average price of $681.08.

Ubiquiti (NYSE:UI) last issued its earnings results on Friday, August 21st. The company reported $4.73 EPS for the quarter, topping the consensus estimate of $4.03 by $0.70. Ubiquiti had a return on equity of 85.57% and a net margin of 29.33%.The company had revenue of $937.32 million during the quarter, compared to analyst estimates of $850.50 million. During the same quarter last year, the firm earned $4.41 EPS. As a group, equities research analysts anticipate that Ubiquiti Inc. will post 15.53 earnings per share for the current year.

Ubiquiti Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Monday, August 31st were given a dividend of $1.00 per share. This is a boost from Ubiquiti’s previous quarterly dividend of $0.80. The ex-dividend date was Monday, August 31st. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.7%. Ubiquiti’s payout ratio is currently 25.24%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. BWS Financial restated a “buy” rating and issued a $980.00 target price on shares of Ubiquiti in a research note on Thursday, August 27th. Weiss Ratings lowered Ubiquiti from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. Zacks Research downgraded shares of Ubiquiti from a “strong-buy” rating to a “hold” rating in a report on Friday, August 14th. Finally, Barclays reduced their price target on shares of Ubiquiti from $672.00 to $489.00 and set an “underweight” rating for the company in a research report on Monday, August 24th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Ubiquiti has an average rating of “Hold” and an average price target of $734.50.

Ubiquiti Profile

Ubiquiti Inc develops and sells networking technology for businesses, service providers and consumers. Its products include wireless access points, routers, gateways, switches, security cameras, access-control systems and network management software.

The company markets its products through several technology platforms and brands, including UniFi for enterprise and small-business networking, and airMAX, LTU and related products for wireless internet service providers. Ubiquiti also offers consumer-focused networking products under the AmpliFi brand and operates software and services designed to help customers manage their networks.

Founded in 2003 by Robert Pera, Ubiquiti serves customers internationally through distributors, online channels and other sales partners.