Ubiquiti Inc. (NYSE:UI) Shares Purchased by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd grew its stake in shares of Ubiquiti Inc. (NYSE:UI) by 578.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,866 shares of the company’s stock after acquiring an additional 3,296 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Ubiquiti were worth $1,284,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Ubiquiti

In other Ubiquiti 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 in the company, valued at $864,407.16. The trade was a 28.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 93.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Barclays dropped 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. BWS Financial reissued a “buy” rating and set a $440.00 target price on shares of Ubiquiti in a research report on Monday, February 10th.

Ubiquiti Stock Up 1.5 %

Shares of Ubiquiti stock opened at $319.98 on Thursday. Ubiquiti Inc. has a twelve month low of $104.24 and a twelve month high of $469.98. The stock has a market cap of $19.36 billion, a price-to-earnings ratio of 43.48 and a beta of 1.12. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 1.31. The company has a fifty day moving average price of $360.75 and a 200 day moving average price of $310.51.

Ubiquiti (NYSE:UI) last issued its quarterly earnings data on Friday, February 14th. The company reported $2.26 EPS for the quarter, topping 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 in the previous year, the firm earned $1.36 EPS. Equities research analysts forecast that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.

Ubiquiti Announces Dividend

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

Ubiquiti Company 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.