UBS Group AG lowered its stake in Ubiquiti Networks Inc (NASDAQ:UBNT) by 67.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,435 shares of the Wireless communications provider’s stock after selling 7,049 shares during the period. UBS Group AG’s holdings in Ubiquiti Networks were worth $236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the business. Raymond James & Associates acquired a new stake in shares of Ubiquiti Networks during the 4th quarter worth about $1,640,000. MetLife Investment Advisors LLC acquired a new stake in shares of Ubiquiti Networks during the 4th quarter worth about $762,000. Deutsche Bank AG raised its position in shares of Ubiquiti Networks by 80.3% during the 4th quarter. Deutsche Bank AG now owns 53,913 shares of the Wireless communications provider’s stock worth $3,826,000 after acquiring an additional 24,012 shares in the last quarter. Xact Kapitalforvaltning AB acquired a new stake in shares of Ubiquiti Networks during the 4th quarter worth about $203,000. Finally, Swiss National Bank raised its position in shares of Ubiquiti Networks by 3.0% during the 1st quarter. Swiss National Bank now owns 48,800 shares of the Wireless communications provider’s stock worth $3,357,000 after acquiring an additional 1,400 shares in the last quarter. 30.37% of the stock is currently owned by institutional investors.
UBNT has been the topic of several research analyst reports. BidaskClub raised Ubiquiti Networks from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 20th. Credit Suisse Group initiated coverage on Ubiquiti Networks in a research report on Wednesday, May 9th. They set a “neutral” rating and a $74.00 target price on the stock. ValuEngine raised Ubiquiti Networks from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 11th. BMO Capital Markets reissued a “market perform” rating and set a $74.00 target price on shares of Ubiquiti Networks in a research report on Friday, May 11th. Finally, TheStreet raised Ubiquiti Networks from a “c+” rating to a “b+” rating in a research report on Wednesday, May 23rd. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $71.75.
Ubiquiti Networks opened at $81.41 on Friday, Marketbeat reports. The company has a market cap of $5.90 billion, a P/E ratio of 26.35, a PEG ratio of 1.26 and a beta of 0.55. The company has a current ratio of 6.69, a quick ratio of 6.08 and a debt-to-equity ratio of 1.63. Ubiquiti Networks Inc has a 52-week low of $47.78 and a 52-week high of $89.99.
Ubiquiti Networks (NASDAQ:UBNT) last released its quarterly earnings results on Thursday, May 10th. The Wireless communications provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.05. The firm had revenue of $250.40 million for the quarter, compared to the consensus estimate of $247.92 million. Ubiquiti Networks had a return on equity of 56.13% and a net margin of 19.15%. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.79 EPS. research analysts expect that Ubiquiti Networks Inc will post 2.42 EPS for the current fiscal year.
About Ubiquiti Networks
Ubiquiti Networks, Inc develops networking technology for service providers, enterprises, and consumers worldwide. The company's service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, and other complimentary WLAN products.
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