Ubiquiti Networks CTO John Sanford Sells 10,000 Shares (UBNT)
Ubiquiti Networks (NASDAQ:UBNT) CTO John Sanford sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $44.57, for a total transaction of $445,700.00. Following the completion of the sale, the chief technology officer now directly owns 280,545 shares in the company, valued at approximately $12,503,891. The sale was disclosed in a document filed with the SEC, which is available at this link.
Ubiquiti Networks (NASDAQ:UBNT) traded up 1.07% on Wednesday, hitting $45.29. The stock had a trading volume of 1,082,298 shares. Ubiquiti Networks has a 52 week low of $16.47 and a 52 week high of $56.85. The stock’s 50-day moving average is $37.35 and its 200-day moving average is $42.60. The company has a market cap of $3.990 billion and a price-to-earnings ratio of 25.72.
Ubiquiti Networks (NASDAQ:UBNT) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.50 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.49 by $0.01. The company had revenue of $148.30 million for the quarter, compared to the consensus estimate of $141.92 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. The company’s quarterly revenue was up 78.2% on a year-over-year basis. On average, analysts predict that Ubiquiti Networks will post $1.95 earnings per share for the current fiscal year.
UBNT has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Ubiquiti Networks from a “neutral” rating to an “outperform” rating in a research note on Tuesday, May 13th. They now have a $34.50 price target on the stock. Separately, analysts at Raymond James upgraded shares of Ubiquiti Networks from an “outperform” rating to a “strong-buy” rating in a research note on Tuesday, May 13th. They now have a $50.00 price target on the stock, up previously from $31.57. They noted that the move was a valuation call. Finally, analysts at Macquarie cut their price target on shares of Ubiquiti Networks from $65.00 to $55.00 in a research note on Friday, May 9th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $46.05.
Ubiquiti Networks, Inc (NASDAQ:UBNT) is a communications technology Company.
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