JPMorgan Chase & Co. Sells 17,024 Shares of Ubiquiti Inc. (NYSE:UI)

JPMorgan Chase & Co. lowered its stake in shares of Ubiquiti Inc. (NYSE:UI) by 57.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,789 shares of the company’s stock after selling 17,024 shares during the period. JPMorgan Chase & Co.’s holdings in Ubiquiti were worth $4,245,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. MML Investors Services LLC bought a new position in Ubiquiti during the third quarter worth about $327,000. Barclays PLC boosted its stake in shares of Ubiquiti by 4,880.2% during the 3rd 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 period. Tidal Investments LLC increased its holdings in shares of Ubiquiti by 13.3% during the 3rd quarter. Tidal Investments LLC now owns 18,505 shares of the company’s stock worth $4,103,000 after acquiring an additional 2,174 shares during the last quarter. DGS Capital Management LLC bought a new stake in Ubiquiti in the 3rd quarter valued at $213,000. Finally, Hanseatic Management Services Inc. raised its stake in Ubiquiti by 12.0% in the 4th quarter. Hanseatic Management Services Inc. now owns 384 shares of the company’s stock valued at $127,000 after acquiring an additional 41 shares during the period. Institutional investors and hedge funds own 4.00% of the company’s stock.

Insider Activity

In other news, CAO Kevin Radigan sold 1,000 shares of the 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 sale, the chief accounting officer now directly owns 2,484 shares of the company’s stock, valued at approximately $864,407.16. This represents a 28.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 93.10% of the stock is owned by company insiders.

Ubiquiti Stock Performance

UI opened at $296.55 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.22 and a quick ratio of 0.98. The business has a fifty day simple moving average of $316.19 and a 200 day simple moving average of $326.17. Ubiquiti Inc. has a 1 year low of $104.46 and a 1 year high of $469.98. The company has a market capitalization of $17.94 billion, a PE ratio of 40.29 and a beta of 1.31.

Ubiquiti (NYSE:UI) last announced its earnings results on Friday, February 14th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.12. Ubiquiti had a net margin of 20.68% and a return on equity of 296.82%. During the same period in the previous year, the firm earned $1.36 earnings per share. Research analysts expect that Ubiquiti Inc. will post 7.21 EPS for the current year.

Ubiquiti Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.60 per share. The ex-dividend date was Tuesday, February 18th. This represents a $2.40 annualized dividend and a dividend yield of 0.81%. Ubiquiti’s dividend payout ratio is presently 32.61%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on UI shares. Barclays reduced their price objective on shares of Ubiquiti from $236.00 to $222.00 and set an “underweight” rating for the company in a research report on Monday, February 10th. BWS Financial reiterated a “buy” rating and issued a $440.00 price target on shares of Ubiquiti in a research note on Friday, April 4th.

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.