1,655 Shares in Ubiquiti Inc. (NYSE:UI) Bought by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC bought a new stake in Ubiquiti Inc. (NYSE:UI) during the fourth quarter, Holdings Channel reports. The firm bought 1,655 shares of the company’s stock, valued at approximately $549,000.

Several other institutional investors have also recently bought and sold shares of UI. Versor Investments LP grew its position in shares of Ubiquiti by 254.5% in the fourth quarter. Versor Investments LP now owns 3,900 shares of the company’s stock valued at $1,295,000 after purchasing an additional 2,800 shares during the last quarter. Barclays PLC boosted its stake in Ubiquiti by 4,880.2% during the 3rd quarter. Barclays PLC now owns 13,347 shares of the company’s stock valued at $2,959,000 after purchasing an additional 13,079 shares during the period. Convergence Investment Partners LLC acquired a new stake in Ubiquiti in the 4th quarter valued at approximately $2,180,000. MML Investors Services LLC bought a new position in Ubiquiti in the 3rd quarter worth approximately $327,000. Finally, Monument Capital Management acquired a new position in shares of Ubiquiti during the fourth quarter worth approximately $354,000. Institutional investors own 4.00% of the company’s stock.

Ubiquiti Stock Performance

UI opened at $274.04 on Monday. The stock’s 50 day simple moving average is $339.36 and its 200-day simple moving average is $320.91. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 1.31. The stock has a market cap of $16.58 billion, a PE ratio of 37.23 and a beta of 1.31. Ubiquiti Inc. has a 1 year low of $104.24 and a 1 year high of $469.98.

Ubiquiti (NYSE:UI) last announced its quarterly earnings results on Friday, February 14th. The company reported $2.26 earnings per share (EPS) for the quarter, beating 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 firm posted $1.36 EPS. Sell-side analysts forecast that Ubiquiti Inc. will post 7.21 EPS for the current year.

Ubiquiti Announces Dividend

The firm also recently declared 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. This represents a $2.40 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend was Tuesday, February 18th. Ubiquiti’s dividend payout ratio is 32.61%.

Insider Buying and Selling at Ubiquiti

In other Ubiquiti news, CAO Kevin Radigan sold 1,000 shares of the stock in a transaction 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 transaction, the chief accounting officer now directly owns 2,484 shares in the company, valued at $864,407.16. This represents a 28.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 93.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on UI. BWS Financial restated a “buy” rating and issued a $440.00 price objective on shares of Ubiquiti in a research note on Friday. Barclays dropped their price objective on shares of Ubiquiti from $236.00 to $222.00 and set an “underweight” rating on the stock in a report on Monday, February 10th.

Ubiquiti Company 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.