New York State Common Retirement Fund Sells 500 Shares of Ubiquiti Inc. (NYSE:UI)

New York State Common Retirement Fund lowered its holdings in shares of Ubiquiti Inc. (NYSE:UI) by 17.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,335 shares of the company’s stock after selling 500 shares during the period. New York State Common Retirement Fund’s holdings in Ubiquiti were worth $724,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in UI. Golden State Wealth Management LLC purchased a new stake in shares of Ubiquiti during the first quarter worth about $25,000. Versant Capital Management Inc increased its holdings in Ubiquiti by 484.2% during the 1st quarter. Versant Capital Management Inc now owns 111 shares of the company’s stock valued at $34,000 after purchasing an additional 92 shares during the period. Sterling Capital Management LLC raised its position in Ubiquiti by 30.2% during the 4th quarter. Sterling Capital Management LLC now owns 168 shares of the company’s stock valued at $56,000 after purchasing an additional 39 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Ubiquiti in the 4th quarter worth approximately $74,000. Finally, Aster Capital Management DIFC Ltd lifted its holdings in Ubiquiti by 49.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 235 shares of the company’s stock worth $78,000 after buying an additional 78 shares during the period. Hedge funds and other institutional investors own 4.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. BWS Financial reaffirmed a “buy” rating and issued a $440.00 target price on shares of Ubiquiti in a research report on Friday, July 11th. Barclays upped their target price on Ubiquiti from $222.00 to $247.00 and gave the stock an “underweight” rating in a report on Monday, May 12th.

Ubiquiti Trading Down 0.4%

Shares of UI stock opened at $445.38 on Friday. Ubiquiti Inc. has a 12-month low of $156.94 and a 12-month high of $469.98. The stock has a market capitalization of $26.94 billion, a P/E ratio of 49.05 and a beta of 1.34. The firm’s 50 day moving average is $407.77 and its 200 day moving average is $367.22.

Ubiquiti Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Monday, May 19th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Monday, May 19th. Ubiquiti’s payout ratio is 26.43%.

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.