Alps Advisors Inc. Decreases Position in Ubiquiti Networks Inc. (UBNT)
Alps Advisors Inc. cut its position in Ubiquiti Networks Inc. (NASDAQ:UBNT) by 6.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 12,680 shares of the company’s stock after selling 931 shares during the period. Alps Advisors Inc.’s holdings in Ubiquiti Networks were worth $490,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of UBNT. Menta Capital LLC acquired a new stake in shares of Ubiquiti Networks during the first quarter worth about $250,000. Parametrica Management Ltd acquired a new stake in shares of Ubiquiti Networks during the second quarter worth about $303,000. Bayesian Capital Management LP boosted its stake in shares of Ubiquiti Networks by 8.1% in the first quarter. Bayesian Capital Management LP now owns 9,300 shares of the company’s stock worth $309,000 after buying an additional 700 shares during the last quarter. Kempen Capital Management N.V. boosted its stake in shares of Ubiquiti Networks by 132.0% in the first quarter. Kempen Capital Management N.V. now owns 9,513 shares of the company’s stock worth $316,000 after buying an additional 5,413 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Ubiquiti Networks during the second quarter worth about $893,000. 30.22% of the stock is currently owned by institutional investors.
Shares of Ubiquiti Networks Inc. (NASDAQ:UBNT) traded down 0.41% on Tuesday, reaching $53.57. 217,146 shares of the company traded hands. The firm has a market capitalization of $4.38 billion, a P/E ratio of 21.51 and a beta of 1.32. The stock has a 50-day moving average price of $52.41 and a 200 day moving average price of $42.13. Ubiquiti Networks Inc. has a 1-year low of $25.75 and a 1-year high of $54.73.
Ubiquiti Networks (NASDAQ:UBNT) last issued its earnings results on Thursday, August 4th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.05. Ubiquiti Networks had a net margin of 32.06% and a return on equity of 47.65%. The company had revenue of $185.70 million for the quarter, compared to analysts’ expectations of $174.47 million. During the same quarter last year, the company posted $0.50 earnings per share. The firm’s quarterly revenue was up 27.8% on a year-over-year basis. Analysts anticipate that Ubiquiti Networks Inc. will post $2.78 EPS for the current fiscal year.
A number of brokerages have issued reports on UBNT. Zacks Investment Research raised shares of Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a report on Tuesday, August 9th. Morgan Stanley set a $28.00 target price on shares of Ubiquiti Networks and gave the company a “sell” rating in a report on Friday, August 5th. Wunderlich boosted their target price on shares of Ubiquiti Networks from $48.00 to $55.00 and gave the company a “buy” rating in a report on Friday, August 5th. Finally, Deutsche Bank AG set a $31.00 target price on shares of Ubiquiti Networks and gave the company a “hold” rating in a report on Friday, August 5th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. Ubiquiti Networks presently has an average rating of “Hold” and an average price target of $37.11.
In related news, VP Benjamin Moore sold 150,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $51.20, for a total value of $7,680,000.00. Following the sale, the vice president now owns 758 shares in the company, valued at $38,809.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 69.08% of the stock is currently owned by corporate insiders.
Ubiquiti Networks Company Profile
Ubiquiti Networks, Inc, develops high performance networking technology for service providers and enterprises. The Company’s technology platforms for service providers enable carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems and routing. The Company’s technology platforms for enterprises enable wireless local area network (WLAN) infrastructure, video surveillance products, and machine-to-machine communications.
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