Wealthfront Advisers LLC Purchases Shares of 27,939 Ubiquiti Inc. (NYSE:UI)

Wealthfront Advisers LLC purchased a new stake in shares of Ubiquiti Inc. (NYSE:UI) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 27,939 shares of the company’s stock, valued at approximately $9,274,000.

Other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE raised its holdings in Ubiquiti by 3.9% in the 3rd quarter. US Bancorp DE now owns 1,537 shares of the company’s stock worth $341,000 after purchasing an additional 57 shares in the last quarter. Atria Investments Inc bought a new position in Ubiquiti in the 3rd quarter worth $210,000. Versor Investments LP bought a new position in Ubiquiti in the 3rd quarter worth $244,000. Huntington National Bank raised its holdings in Ubiquiti by 267.6% in the 3rd quarter. Huntington National Bank now owns 125 shares of the company’s stock worth $28,000 after purchasing an additional 91 shares in the last quarter. Finally, CIBC Asset Management Inc raised its holdings in Ubiquiti by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 1,768 shares of the company’s stock worth $392,000 after purchasing an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 4.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. BWS Financial restated a “buy” rating and issued a $440.00 price objective on shares of Ubiquiti in a report on Monday, February 10th. Barclays decreased their price objective on shares of Ubiquiti from $236.00 to $222.00 and set an “underweight” rating for the company in a report on Monday, February 10th. Finally, StockNews.com upgraded shares of Ubiquiti from a “hold” rating to a “buy” rating in a research note on Sunday, November 17th.

Ubiquiti Stock Up 1.7 %

Shares of Ubiquiti stock opened at $307.75 on Thursday. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.22 and a quick ratio of 0.98. The company has a 50-day moving average of $364.18 and a 200 day moving average of $306.25. The firm has a market cap of $18.62 billion, a price-to-earnings ratio of 41.81 and a beta of 1.12. Ubiquiti Inc. has a 1 year low of $104.24 and a 1 year high of $469.98.

Ubiquiti (NYSE:UI) last issued its quarterly earnings results on Friday, February 14th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period last year, the business posted $1.36 earnings per share. As a group, sell-side analysts anticipate that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.

Ubiquiti Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Tuesday, February 18th were paid 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 yield of 0.78%. Ubiquiti’s dividend payout ratio is currently 32.61%.

Insider Buying and Selling at Ubiquiti

In other Ubiquiti news, CAO Kevin Radigan sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were 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 directly owns 2,484 shares in the company, valued at approximately $864,407.16. This trade represents a 28.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 93.10% of the stock is owned by company insiders.

About Ubiquiti

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.