Barclays PLC Cuts Stock Position in Ubiquiti Inc. (NYSE:UI)

Barclays PLC reduced its position in shares of Ubiquiti Inc. (NYSE:UI) by 21.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,493 shares of the company’s stock after selling 2,854 shares during the period. Barclays PLC’s holdings in Ubiquiti were worth $3,483,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Arrowstreet Capital Limited Partnership increased its stake in shares of Ubiquiti by 926.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 113,305 shares of the company’s stock worth $37,609,000 after acquiring an additional 102,268 shares during the period. Norges Bank purchased a new stake in shares of Ubiquiti in the fourth quarter valued at about $16,166,000. Proficio Capital Partners LLC purchased a new stake in shares of Ubiquiti in the fourth quarter valued at about $15,425,000. Pacer Advisors Inc. lifted its holdings in shares of Ubiquiti by 95.0% in the fourth quarter. Pacer Advisors Inc. now owns 61,825 shares of the company’s stock valued at $20,522,000 after purchasing an additional 30,118 shares in the last quarter. Finally, Wealthfront Advisers LLC purchased a new stake in shares of Ubiquiti in the fourth quarter valued at about $9,274,000. 4.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on UI shares. BWS Financial restated a “buy” rating and set a $440.00 price objective on shares of Ubiquiti in a report on Friday, April 4th. Barclays reduced their price objective on Ubiquiti from $236.00 to $222.00 and set an “underweight” rating on the stock in a research note on Monday, February 10th.

Insider Activity

In related news, CAO Kevin Radigan sold 1,000 shares of the company’s stock in a transaction on 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 93.10% of the stock is owned by corporate insiders.

Ubiquiti Trading Up 1.9 %

NYSE:UI opened at $319.17 on Tuesday. Ubiquiti Inc. has a 1 year low of $106.99 and a 1 year high of $469.98. The business has a fifty day moving average of $311.71 and a 200-day moving average of $329.96. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.98 and a current ratio of 2.22. The stock has a market cap of $19.31 billion, a price-to-earnings ratio of 43.36 and a beta of 1.31.

Ubiquiti (NYSE:UI) last issued its quarterly earnings results on Friday, February 14th. The company reported $2.26 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 in the previous year, the firm earned $1.36 EPS. Equities analysts predict that Ubiquiti Inc. will post 7.21 earnings per share for the current year.

Ubiquiti Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Tuesday, February 18th were issued a $0.60 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.75%. Ubiquiti’s dividend payout ratio is 32.61%.

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.