Edgestream Partners L.P. Has $3.81 Million Holdings in Ubiquiti Inc. $UI

Edgestream Partners L.P. decreased its stake in shares of Ubiquiti Inc. (NYSE:UI) by 38.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,258 shares of the company’s stock after selling 5,770 shares during the period. Edgestream Partners L.P.’s holdings in Ubiquiti were worth $3,811,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Rhumbline Advisers lifted its stake in Ubiquiti by 856.8% in the 2nd quarter. Rhumbline Advisers now owns 42,787 shares of the company’s stock valued at $17,613,000 after acquiring an additional 38,315 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Ubiquiti in the second quarter valued at approximately $885,000. Greenleaf Trust bought a new stake in shares of Ubiquiti in the second quarter worth $227,000. Maverick Capital Ltd. acquired a new position in Ubiquiti during the first quarter worth $1,293,000. Finally, One Wealth Advisors LLC bought a new position in Ubiquiti in the second quarter valued at $219,000. 4.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Ubiquiti in a research report on Monday. Zacks Research lowered Ubiquiti from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. BWS Financial reissued a “buy” rating and set a $720.00 price target on shares of Ubiquiti in a research report on Tuesday, November 11th. Barclays boosted their price target on Ubiquiti from $299.00 to $455.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 11th. Finally, Wall Street Zen cut Ubiquiti from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $591.67.

Ubiquiti Stock Performance

Ubiquiti stock opened at $562.97 on Thursday. The stock has a 50-day simple moving average of $657.87 and a 200 day simple moving average of $527.92. The stock has a market capitalization of $34.06 billion, a P/E ratio of 43.04 and a beta of 1.38. Ubiquiti Inc. has a 52 week low of $255.00 and a 52 week high of $803.59.

Ubiquiti (NYSE:UI) last released its quarterly earnings data on Friday, November 7th. The company reported $3.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.98. Ubiquiti had a return on equity of 132.71% and a net margin of 28.72%.The company had revenue of $733.77 million during the quarter, compared to analysts’ expectations of $702.38 million. Research analysts forecast that Ubiquiti Inc. will post 7.21 earnings per share for the current year.

Ubiquiti Dividend Announcement

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

Insider Activity at Ubiquiti

In other news, CAO Kevin Radigan sold 350 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $576.58, for a total value of $201,803.00. Following the transaction, the chief accounting officer directly owned 2,768 shares of the company’s stock, valued at $1,595,973.44. This represents a 11.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 93.10% of the stock is currently owned by corporate insiders.

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.