Edgestream Partners L.P. Has $3.81 Million Stake in Ubiquiti Inc. $UI

Edgestream Partners L.P. lowered its position in shares of Ubiquiti Inc. (NYSE:UI) by 38.4% during the second quarter, Holdings Channel.com reports. The firm owned 9,258 shares of the company’s stock after selling 5,770 shares during the quarter. Edgestream Partners L.P.’s holdings in Ubiquiti were worth $3,811,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group grew its holdings in Ubiquiti by 78.8% in the 1st quarter. Brooklyn Investment Group now owns 93 shares of the company’s stock valued at $29,000 after buying an additional 41 shares in the last quarter. Cullen Frost Bankers Inc. boosted its position in shares of Ubiquiti by 1,075.0% in the second quarter. Cullen Frost Bankers Inc. now owns 94 shares of the company’s stock valued at $39,000 after acquiring an additional 86 shares during the period. Main Street Group LTD acquired a new position in shares of Ubiquiti in the second quarter valued at about $41,000. Iron Horse Wealth Management LLC bought a new position in Ubiquiti during the second quarter worth about $54,000. Finally, GAMMA Investing LLC increased its position in Ubiquiti by 20.5% during the second quarter. GAMMA Investing LLC now owns 159 shares of the company’s stock worth $65,000 after acquiring an additional 27 shares during the period. 4.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Zacks Research lowered shares of Ubiquiti from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. BWS Financial reissued a “buy” rating and set a $720.00 price target on shares of Ubiquiti in a research report on Tuesday, November 11th. Barclays lifted their price objective on Ubiquiti from $299.00 to $455.00 and gave the company an “underweight” rating in a report on Tuesday, November 11th. UBS Group set a $600.00 target price on Ubiquiti in a research report on Monday, August 25th. Finally, Wall Street Zen lowered Ubiquiti from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ubiquiti presently has an average rating of “Hold” and a consensus price target of $591.67.

Insider Activity at Ubiquiti

In other news, CAO Kevin Radigan sold 350 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $576.58, for a total value of $201,803.00. Following the completion of the transaction, the chief accounting officer owned 2,768 shares of the company’s stock, valued at approximately $1,595,973.44. This represents a 11.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 93.10% of the company’s stock.

Ubiquiti Price Performance

Shares of UI opened at $562.97 on Thursday. The firm has a 50 day simple moving average of $657.87 and a two-hundred day simple moving average of $527.92. Ubiquiti Inc. has a one year low of $255.00 and a one year high of $803.59. The company has a market cap of $34.06 billion, a P/E ratio of 43.04 and a beta of 1.38.

Ubiquiti (NYSE:UI) last issued its quarterly earnings results on Friday, November 7th. The company reported $3.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.98. Ubiquiti had a return on equity of 132.71% and a net margin of 28.72%.The company had revenue of $733.77 million for the quarter, compared to analyst estimates of $702.38 million. On average, analysts expect that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.

Ubiquiti Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 17th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $3.20 annualized dividend and a yield of 0.6%. Ubiquiti’s payout ratio is presently 24.46%.

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.