3,753 Shares in Ubiquiti Inc. (NYSE:UI) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in Ubiquiti Inc. (NYSE:UI) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,753 shares of the company’s stock, valued at approximately $1,246,000.

Several other institutional investors have also added to or reduced their stakes in the business. Pacer Advisors Inc. lifted its position in Ubiquiti by 95.0% during the 4th quarter. Pacer Advisors Inc. now owns 61,825 shares of the company’s stock worth $20,522,000 after acquiring an additional 30,118 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Ubiquiti during the fourth quarter worth about $15,425,000. Zacks Investment Management acquired a new position in Ubiquiti in the 3rd quarter worth approximately $8,892,000. JPMorgan Chase & Co. increased its holdings in Ubiquiti by 20.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 29,813 shares of the company’s stock worth $6,610,000 after buying an additional 5,045 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in Ubiquiti during the 4th quarter worth approximately $8,619,000. Institutional investors and hedge funds own 4.00% of the company’s stock.

Insider Activity at Ubiquiti

In related 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 93.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

UI has been the topic of a number of research reports. BWS Financial reiterated a “buy” rating and issued a $440.00 price objective on shares of Ubiquiti in a research note on Monday, February 10th. Barclays cut their price target on Ubiquiti from $236.00 to $222.00 and set an “underweight” rating on the stock in a research report on Monday, February 10th.

Ubiquiti Price Performance

Shares of Ubiquiti stock opened at $325.74 on Thursday. The firm has a market cap of $19.70 billion, a PE ratio of 44.26 and a beta of 1.12. Ubiquiti Inc. has a twelve month low of $104.24 and a twelve month high of $469.98. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.31. The business has a 50-day moving average price of $345.36 and a 200 day moving average price of $319.07.

Ubiquiti (NYSE:UI) last announced its earnings results on Friday, February 14th. The company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.12. Ubiquiti had a return on equity of 296.82% and a net margin of 20.68%. During the same quarter in the prior year, the business posted $1.36 earnings per share. Sell-side analysts predict that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.

Ubiquiti Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Tuesday, February 18th were given a dividend of $0.60 per share. The ex-dividend date was Tuesday, February 18th. This represents a $2.40 dividend on an annualized basis and a yield of 0.74%. Ubiquiti’s payout ratio is presently 32.61%.

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.