Parametric Portfolio Associates LLC trimmed its holdings in shares of Ubiquiti Networks, Inc. (NASDAQ:UBNT) by 18.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,253 shares of the Wireless communications provider’s stock after selling 6,680 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Ubiquiti Networks were worth $1,520,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. lifted its holdings in Ubiquiti Networks by 4.3% during the second quarter. PNC Financial Services Group Inc. now owns 1,958 shares of the Wireless communications provider’s stock valued at $102,000 after purchasing an additional 80 shares in the last quarter. SG Americas Securities LLC purchased a new position in Ubiquiti Networks during the second quarter valued at approximately $144,000. Pacer Advisors Inc. lifted its holdings in Ubiquiti Networks by 11.8% during the second quarter. Pacer Advisors Inc. now owns 3,019 shares of the Wireless communications provider’s stock valued at $157,000 after purchasing an additional 319 shares in the last quarter. Hikari Power Ltd purchased a new position in Ubiquiti Networks during the second quarter valued at approximately $205,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in Ubiquiti Networks by 138.8% during the second quarter. BNP Paribas Arbitrage SA now owns 4,198 shares of the Wireless communications provider’s stock valued at $218,000 after purchasing an additional 2,440 shares in the last quarter. Institutional investors own 32.11% of the company’s stock.
Ubiquiti Networks, Inc. (NASDAQ UBNT) opened at $63.02 on Tuesday. Ubiquiti Networks, Inc. has a 1-year low of $45.71 and a 1-year high of $67.80. The company has a market cap of $4,868.25, a price-to-earnings ratio of 19.92, a PEG ratio of 1.12 and a beta of 0.50.
Ubiquiti Networks (NASDAQ:UBNT) last released its earnings results on Thursday, November 9th. The Wireless communications provider reported $0.92 EPS for the quarter, topping the consensus estimate of $0.86 by $0.06. Ubiquiti Networks had a net margin of 28.76% and a return on equity of 45.45%. The firm had revenue of $245.90 million for the quarter, compared to the consensus estimate of $240.39 million. During the same quarter in the previous year, the firm earned $0.79 earnings per share. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. analysts anticipate that Ubiquiti Networks, Inc. will post 2.78 earnings per share for the current fiscal year.
Ubiquiti Networks announced that its Board of Directors has authorized a stock repurchase program on Tuesday, September 5th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the Wireless communications provider to reacquire up to 18% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
Several equities analysts have weighed in on the stock. ValuEngine raised shares of Ubiquiti Networks from a “hold” rating to a “buy” rating in a report on Friday. Vetr downgraded shares of Ubiquiti Networks from a “buy” rating to a “hold” rating and set a $56.18 price target on the stock. in a report on Monday, July 31st. BMO Capital Markets lowered their price target on shares of Ubiquiti Networks from $66.00 to $60.00 and set a “positive” rating on the stock in a report on Friday. Deutsche Bank AG lifted their price target on shares of Ubiquiti Networks from $40.00 to $44.00 and gave the company a “hold” rating in a report on Monday, August 7th. Finally, Credit Suisse Group reaffirmed a “sell” rating and set a $54.00 price target on shares of Ubiquiti Networks in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $56.86.
In other news, insider Robert J. Pera sold 1,000,000 shares of the business’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $61.25, for a total value of $61,250,000.00. Following the transaction, the insider now owns 56,278,181 shares of the company’s stock, valued at $3,447,038,586.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 72.80% of the stock is currently owned by insiders.
Ubiquiti Networks Profile
Ubiquiti Networks, Inc develops performance networking technology for service providers and enterprises. The Company offers a portfolio of networking products and solutions. Its service provider product platforms provide carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems and routing.
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