Legal & General Group Plc Sells 43 Shares of Ubiquiti Inc. (NYSE:UI)

Legal & General Group Plc decreased its position in shares of Ubiquiti Inc. (NYSE:UI) by 7.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 517 shares of the company’s stock after selling 43 shares during the quarter. Legal & General Group Plc’s holdings in Ubiquiti were worth $172,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Barclays PLC lifted its stake in Ubiquiti by 4,880.2% in the 3rd quarter. Barclays PLC now owns 13,347 shares of the company’s stock worth $2,959,000 after purchasing an additional 13,079 shares in the last quarter. Tidal Investments LLC increased its stake in Ubiquiti by 13.3% in the 3rd quarter. Tidal Investments LLC now owns 18,505 shares of the company’s stock worth $4,103,000 after purchasing an additional 2,174 shares during the period. DGS Capital Management LLC purchased a new stake in Ubiquiti during the 3rd quarter valued at $213,000. JPMorgan Chase & Co. increased its holdings in Ubiquiti by 20.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 29,813 shares of the company’s stock valued at $6,610,000 after purchasing an additional 5,045 shares during the period. Finally, Hanseatic Management Services Inc. raised its holdings in shares of Ubiquiti by 12.0% during the fourth quarter. Hanseatic Management Services Inc. now owns 384 shares of the company’s stock valued at $127,000 after acquiring an additional 41 shares in the last quarter. Institutional investors and hedge funds own 4.00% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on UI. Barclays dropped 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. BWS Financial reaffirmed a “buy” rating and issued a $440.00 price objective on shares of Ubiquiti in a research note on Friday, April 4th.

Insider Activity at Ubiquiti

In related news, CAO Kevin Radigan sold 1,000 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 2,484 shares of the company’s stock, valued at $864,407.16. This represents a 28.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 93.10% of the stock is owned by insiders.

Ubiquiti Stock Up 2.7 %

NYSE:UI opened at $335.24 on Friday. Ubiquiti Inc. has a fifty-two week low of $109.00 and a fifty-two week high of $469.98. The company’s 50-day simple moving average is $311.89 and its 200-day simple moving average is $330.55. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.98 and a current ratio of 2.22. The stock has a market capitalization of $20.28 billion, a P/E ratio of 45.55 and a beta of 1.31.

Ubiquiti (NYSE:UI) last posted its quarterly earnings results on Friday, February 14th. The company reported $2.26 earnings per share (EPS) for the quarter, topping 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 quarter last year, the firm posted $1.36 earnings per share. On average, equities analysts anticipate that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.

Ubiquiti Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Tuesday, February 18th were given a $0.60 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $2.40 dividend on an annualized basis and a yield of 0.72%. Ubiquiti’s payout ratio is currently 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.