Ubiquiti Inc. (NYSE:UI) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc grew its position in shares of Ubiquiti Inc. (NYSE:UI) by 5.3% during the 4th quarter, Holdings Channel reports. The firm owned 1,862 shares of the company’s stock after purchasing an additional 94 shares during the period. CIBC Asset Management Inc’s holdings in Ubiquiti were worth $618,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Huntington National Bank grew its holdings in shares of Ubiquiti by 267.6% in the 3rd quarter. Huntington National Bank now owns 125 shares of the company’s stock worth $28,000 after acquiring an additional 91 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Ubiquiti by 78.8% in the 4th quarter. Blue Trust Inc. now owns 143 shares of the company’s stock worth $47,000 after acquiring an additional 63 shares during the last quarter. Hanseatic Management Services Inc. acquired a new position in shares of Ubiquiti in the 3rd quarter worth $76,000. Principal Securities Inc. grew its holdings in shares of Ubiquiti by 89.3% in the 4th quarter. Principal Securities Inc. now owns 229 shares of the company’s stock worth $76,000 after acquiring an additional 108 shares during the last quarter. Finally, Raleigh Capital Management Inc. grew its holdings in shares of Ubiquiti by 34.9% in the 4th quarter. Raleigh Capital Management Inc. now owns 286 shares of the company’s stock worth $95,000 after acquiring an additional 74 shares during the last quarter. 4.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Barclays decreased their target price on Ubiquiti from $236.00 to $222.00 and set an “underweight” rating on the stock in a report on Monday, February 10th. StockNews.com upgraded Ubiquiti from a “hold” rating to a “buy” rating in a report on Sunday, November 17th. Finally, BWS Financial reaffirmed a “buy” rating and issued a $440.00 target price on shares of Ubiquiti in a research report on Monday, February 10th.

Insider Activity at Ubiquiti

In related news, CAO Kevin Radigan sold 1,000 shares of Ubiquiti stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $347.99, for a total transaction of $347,990.00. Following the completion of the sale, the chief accounting officer now owns 2,484 shares of the company’s stock, valued at approximately $864,407.16. This trade represents a 28.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 93.10% of the company’s stock.

Ubiquiti Stock Performance

Shares of Ubiquiti stock opened at $321.03 on Friday. The stock has a market cap of $19.42 billion, a PE ratio of 43.62 and a beta of 1.14. The business has a fifty day simple moving average of $369.12 and a 200-day simple moving average of $293.06. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.31. Ubiquiti Inc. has a 12 month low of $104.24 and a 12 month high of $469.98.

Ubiquiti (NYSE:UI) last issued its earnings results on Friday, February 14th. The company reported $2.26 EPS for the quarter, topping the consensus estimate 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 period in the previous year, the firm earned $1.36 earnings per share. On average, sell-side analysts anticipate that Ubiquiti Inc. will post 7.21 EPS for the current fiscal year.

Ubiquiti Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Tuesday, February 18th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $2.40 dividend on an annualized basis and a yield of 0.75%. Ubiquiti’s payout ratio is 32.61%.

Ubiquiti 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.