Creative Planning Cuts Stake in Ubiquiti Inc. $UI

Creative Planning lowered its holdings in shares of Ubiquiti Inc. (NYSE:UI) by 4.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,358 shares of the company’s stock after selling 198 shares during the period. Creative Planning’s holdings in Ubiquiti were worth $1,794,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the business. Brooklyn Investment Group grew its stake in shares of Ubiquiti by 78.8% during the first quarter. Brooklyn Investment Group now owns 93 shares of the company’s stock valued at $29,000 after buying an additional 41 shares during the last quarter. Cullen Frost Bankers Inc. boosted its holdings in Ubiquiti by 1,075.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 94 shares of the company’s stock valued at $39,000 after acquiring an additional 86 shares during the period. Main Street Group LTD bought a new position in Ubiquiti during the 2nd quarter worth approximately $41,000. Iron Horse Wealth Management LLC bought a new position in Ubiquiti during the 2nd quarter worth approximately $54,000. Finally, GAMMA Investing LLC increased its stake in Ubiquiti by 20.5% in the 2nd quarter. GAMMA Investing LLC now owns 159 shares of the company’s stock worth $65,000 after purchasing an additional 27 shares during the period. 4.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wall Street Zen lowered Ubiquiti from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ubiquiti in a report on Tuesday. UBS Group set a $600.00 price target on shares of Ubiquiti in a report on Monday, August 25th. Zacks Research downgraded shares of Ubiquiti from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Finally, BWS Financial reiterated a “buy” rating and set a $720.00 target price on shares of Ubiquiti in a report on Tuesday, November 11th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $591.67.

Insider Buying and Selling at Ubiquiti

In other news, CAO Kevin Radigan sold 350 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $576.58, for a total value of $201,803.00. Following the completion of the transaction, the chief accounting officer owned 2,768 shares of the company’s stock, valued at approximately $1,595,973.44. This represents a 11.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 93.10% of the company’s stock.

Ubiquiti Stock Up 1.1%

NYSE:UI opened at $576.94 on Thursday. The firm’s fifty day simple moving average is $664.88 and its 200 day simple moving average is $523.17. The stock has a market cap of $34.90 billion, a P/E ratio of 49.02 and a beta of 1.50. Ubiquiti Inc. has a twelve month low of $255.00 and a twelve month high of $803.59.

Ubiquiti (NYSE:UI) last posted its earnings results on Friday, November 7th. The company reported $3.46 EPS for the quarter, topping the consensus estimate of $2.48 by $0.98. Ubiquiti had a net margin of 27.66% and a return on equity of 166.22%. The firm had revenue of $733.77 million during the quarter, compared to analysts’ expectations of $702.38 million. On average, analysts expect that Ubiquiti Inc. will post 7.21 EPS for the current fiscal year.

Ubiquiti Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 17th were issued a dividend of $0.80 per share. The ex-dividend date was Monday, November 17th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.6%. Ubiquiti’s dividend payout ratio is 24.46%.

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.