Edgestream Partners L.P. Boosts Stake in Ubiquiti Inc. (NYSE:UI)

Edgestream Partners L.P. lifted its stake in Ubiquiti Inc. (NYSE:UI) by 103.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,258 shares of the company’s stock after purchasing an additional 5,204 shares during the period. Edgestream Partners L.P.’s holdings in Ubiquiti were worth $3,405,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Versor Investments LP increased its stake in shares of Ubiquiti by 254.5% in the 4th quarter. Versor Investments LP now owns 3,900 shares of the company’s stock worth $1,295,000 after purchasing an additional 2,800 shares in the last quarter. Barclays PLC increased its stake in Ubiquiti by 4,880.2% in the 3rd quarter. Barclays PLC now owns 13,347 shares of the company’s stock worth $2,959,000 after buying an additional 13,079 shares in the last quarter. Empowered Funds LLC purchased a new stake in Ubiquiti in the 3rd quarter worth $323,000. Convergence Investment Partners LLC purchased a new stake in Ubiquiti in the 4th quarter worth $2,180,000. Finally, Algert Global LLC purchased a new stake in Ubiquiti in the 3rd quarter worth $838,000. 4.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Kevin Radigan sold 1,000 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $347.99, for a total value of $347,990.00. Following the sale, the chief accounting officer now owns 2,484 shares of the company’s stock, valued at approximately $864,407.16. This represents a 28.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 93.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. StockNews.com upgraded Ubiquiti from a “hold” rating to a “buy” rating in a research note on Sunday, November 17th. BWS Financial reiterated a “buy” rating and issued a $440.00 price target on shares of Ubiquiti in a research note on Monday, February 10th. Finally, Barclays cut their price target on Ubiquiti from $236.00 to $222.00 and set an “underweight” rating for the company in a research note on Monday, February 10th.

Ubiquiti Trading Up 1.6 %

Shares of Ubiquiti stock opened at $319.97 on Friday. The firm has a market cap of $19.35 billion, a price-to-earnings ratio of 43.47 and a beta of 1.12. The business has a 50-day moving average price of $365.94 and a 200-day moving average price of $303.74. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.31. Ubiquiti Inc. has a twelve month low of $104.24 and a twelve month high of $469.98.

Ubiquiti (NYSE:UI) last issued its quarterly earnings data on Friday, February 14th. The company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.12. Ubiquiti had a return on equity of 296.82% and a net margin of 20.68%. During the same quarter last year, the business earned $1.36 earnings per share. Equities research analysts anticipate that Ubiquiti Inc. will post 7.21 EPS for the current fiscal year.

Ubiquiti Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Tuesday, February 18th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date was Tuesday, February 18th. Ubiquiti’s payout ratio is 32.61%.

About Ubiquiti

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.