Wealthfront Advisers LLC Takes Position in Ubiquiti Inc. (NYSE:UI)

Wealthfront Advisers LLC purchased a new stake in shares of Ubiquiti Inc. (NYSE:UI) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 27,939 shares of the company’s stock, valued at approximately $9,274,000.

A number of other institutional investors have also recently made changes to their positions in UI. Proficio Capital Partners LLC purchased a new stake in shares of Ubiquiti during the 4th quarter valued at about $15,425,000. Zacks Investment Management bought a new stake in Ubiquiti during the third quarter valued at approximately $8,892,000. Pacer Advisors Inc. bought a new stake in Ubiquiti during the third quarter valued at approximately $7,030,000. Los Angeles Capital Management LLC bought a new stake in Ubiquiti during the fourth quarter valued at approximately $8,619,000. Finally, Barclays PLC grew its position in Ubiquiti by 4,880.2% during the third quarter. Barclays PLC now owns 13,347 shares of the company’s stock valued at $2,959,000 after buying an additional 13,079 shares during the period. Hedge funds and other institutional investors own 4.00% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Kevin Radigan sold 1,000 shares of the business’s 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 transaction, the chief accounting officer now owns 2,484 shares of the company’s stock, valued at approximately $864,407.16. The trade was a 28.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 93.10% of the company’s stock.

Ubiquiti Stock Performance

UI opened at $307.75 on Thursday. The firm has a market cap of $18.62 billion, a P/E ratio of 41.81 and a beta of 1.12. Ubiquiti Inc. has a 1-year low of $104.24 and a 1-year high of $469.98. The company has a 50 day simple moving average of $364.18 and a two-hundred day simple moving average of $306.25. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.22 and a quick ratio of 0.98.

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

Ubiquiti Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Tuesday, February 18th were given a $0.60 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.78%. Ubiquiti’s payout ratio is currently 32.61%.

Wall Street Analysts Forecast Growth

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

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.