Ubiquiti Inc. (NYSE:UI) Position Lessened by Lagoda Investment Management L.P.

Lagoda Investment Management L.P. trimmed its holdings in shares of Ubiquiti Inc. (NYSE:UI) by 17.6% during the fourth quarter, Holdings Channel reports. The fund owned 21,365 shares of the company’s stock after selling 4,552 shares during the quarter. Ubiquiti accounts for 3.8% of Lagoda Investment Management L.P.’s investment portfolio, making the stock its 9th largest holding. Lagoda Investment Management L.P.’s holdings in Ubiquiti were worth $7,092,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Versor Investments LP increased its position in shares of Ubiquiti by 254.5% during the fourth quarter. Versor Investments LP now owns 3,900 shares of the company’s stock worth $1,295,000 after acquiring an additional 2,800 shares during the last quarter. Barclays PLC increased its position in shares of Ubiquiti by 4,880.2% during the third quarter. Barclays PLC now owns 13,347 shares of the company’s stock worth $2,959,000 after acquiring an additional 13,079 shares during the last quarter. Convergence Investment Partners LLC purchased a new stake in shares of Ubiquiti during the fourth quarter worth about $2,180,000. Sei Investments Co. purchased a new stake in shares of Ubiquiti during the fourth quarter worth about $1,737,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Ubiquiti during the fourth quarter worth about $1,246,000. 4.00% of the stock is owned by hedge funds and other institutional investors.

Ubiquiti Stock Up 16.1%

Shares of Ubiquiti stock opened at $410.01 on Monday. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.31. The firm has a market cap of $24.80 billion, a P/E ratio of 55.71 and a beta of 1.32. Ubiquiti Inc. has a fifty-two week low of $128.07 and a fifty-two week high of $469.98. The business has a 50-day moving average price of $315.01 and a 200 day moving average price of $336.19.

Ubiquiti (NYSE:UI) last announced its quarterly earnings data on Friday, February 14th. The company reported $2.26 earnings per share for the quarter, beating 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 last year, the company earned $1.36 earnings per share. On average, sell-side analysts forecast that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Ubiquiti

In other Ubiquiti news, CAO Kevin Radigan sold 1,000 shares of Ubiquiti stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $347.99, for a total value of $347,990.00. Following the completion of the transaction, the chief accounting officer now directly owns 2,484 shares in the company, valued at $864,407.16. The trade was a 28.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 93.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

UI has been the topic of a number of analyst reports. BWS Financial reaffirmed a “buy” rating and set a $440.00 target price on shares of Ubiquiti in a research report on Friday, April 4th. Barclays lowered their price objective on Ubiquiti from $236.00 to $222.00 and set an “underweight” rating for the company in a report on Monday, February 10th.

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.