Raymond James Financial Inc. Makes New $1.25 Million Investment in Ubiquiti Inc. (NYSE:UI)

Raymond James Financial Inc. purchased a new stake in Ubiquiti Inc. (NYSE:UI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,753 shares of the company’s stock, valued at approximately $1,246,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in UI. Farther Finance Advisors LLC boosted its stake in shares of Ubiquiti by 47.0% during the fourth quarter. Farther Finance Advisors LLC now owns 122 shares of the company’s stock valued at $40,000 after purchasing an additional 39 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in Ubiquiti by 71.1% in the 4th quarter. Venturi Wealth Management LLC now owns 130 shares of the company’s stock valued at $43,000 after buying an additional 54 shares during the last quarter. Blue Trust Inc. boosted its position in Ubiquiti by 78.8% during the 4th quarter. Blue Trust Inc. now owns 143 shares of the company’s stock worth $47,000 after buying an additional 63 shares during the period. Financial Perspectives Inc grew its holdings in Ubiquiti by 152.2% during the 4th quarter. Financial Perspectives Inc now owns 169 shares of the company’s stock worth $56,000 after acquiring an additional 102 shares during the last quarter. Finally, Principal Securities Inc. increased its position in Ubiquiti by 89.3% in the 4th quarter. Principal Securities Inc. now owns 229 shares of the company’s stock valued at $76,000 after acquiring an additional 108 shares during the period. 4.00% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CAO Kevin Radigan sold 1,000 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $864,407.16. The trade was a 28.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 93.10% of the stock is owned by insiders.

Ubiquiti Trading Up 2.4 %

UI opened at $343.01 on Friday. Ubiquiti Inc. has a twelve month low of $110.32 and a twelve month high of $469.98. The company has a fifty day moving average of $312.28 and a 200-day moving average of $331.83. The stock has a market cap of $20.75 billion, a PE ratio of 46.60 and a beta of 1.32. 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 (NYSE:UI) last issued its quarterly earnings results on Friday, February 14th. The company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the company posted $1.36 earnings per share. On average, sell-side analysts predict that Ubiquiti Inc. will post 7.21 EPS for the current year.

Ubiquiti Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Tuesday, February 18th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.70%. Ubiquiti’s payout ratio is presently 32.61%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. BWS Financial reissued a “buy” rating and issued a $440.00 price objective on shares of Ubiquiti in a research note on Friday, April 4th. Barclays reduced their price target on Ubiquiti from $236.00 to $222.00 and set an “underweight” rating on the stock in a research 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.