Ubiquiti Networks CTO John Sanford Sells 10,000 Shares (UBNT)
Ubiquiti Networks (NASDAQ:UBNT) CTO John Sanford sold 10,000 shares of Ubiquiti Networks stock on the open market in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $44.29, for a total transaction of $442,900.00. Following the completion of the sale, the chief technology officer now directly owns 330,545 shares in the company, valued at approximately $14,639,838. The sale was disclosed in a document filed with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Ubiquiti Networks from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, January 8th. They now have a $49.00 price target on the stock. Separately, analysts at Wells Fargo & Co. initiated coverage on shares of Ubiquiti Networks in a research note to investors on Friday, December 13th. They set an “outperform” rating on the stock. Finally, analysts at Stephens initiated coverage on shares of Ubiquiti Networks in a research note to investors on Tuesday, December 10th. They set an “equal weight” rating on the stock. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $42.17.
Ubiquiti Networks (NASDAQ:UBNT) traded down 2.30% during mid-day trading on Thursday, hitting $43.72. The stock had a trading volume of 663,898 shares. Ubiquiti Networks has a one year low of $11.51 and a one year high of $48.00. The stock has a 50-day moving average of $42.4 and a 200-day moving average of $34.1. The company has a market cap of $3.832 billion and a P/E ratio of 37.20.
Ubiquiti Networks (NASDAQ:UBNT) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.46 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.39 by $0.07. The company had revenue of $129.70 million for the quarter, compared to the consensus estimate of $119.30 million. During the same quarter in the prior year, the company posted $0.15 earnings per share. The company’s quarterly revenue was up 110.9% on a year-over-year basis. Analysts expect that Ubiquiti Networks will post $1.83 EPS for the current fiscal year.
Ubiquiti Networks, Inc (NASDAQ:UBNT) is a communications technology Company.
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