Jackson Square Partners LLC Has $73.73 Million Position in Ubiquiti Networks, Inc. (UBNT)
Jackson Square Partners LLC lifted its position in Ubiquiti Networks, Inc. (NASDAQ:UBNT) by 21.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,316,083 shares of the Wireless communications provider’s stock after buying an additional 228,986 shares during the quarter. Jackson Square Partners LLC owned about 1.69% of Ubiquiti Networks worth $73,726,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Engineers Gate Manager LP bought a new position in Ubiquiti Networks during the third quarter worth $1,271,000. Envestnet Asset Management Inc. boosted its position in Ubiquiti Networks by 8,033.0% during the third quarter. Envestnet Asset Management Inc. now owns 16,998 shares of the Wireless communications provider’s stock worth $953,000 after purchasing an additional 16,789 shares during the period. Invictus RG bought a new position in Ubiquiti Networks during the third quarter worth $244,000. Pier Capital LLC bought a new position in Ubiquiti Networks during the third quarter worth $2,827,000. Finally, Stifel Financial Corp boosted its position in Ubiquiti Networks by 9.3% during the third quarter. Stifel Financial Corp now owns 59,438 shares of the Wireless communications provider’s stock worth $3,335,000 after purchasing an additional 5,038 shares during the period. 33.83% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on UBNT shares. Vetr raised Ubiquiti Networks from a “buy” rating to a “strong-buy” rating and set a $69.54 target price for the company in a report on Tuesday, August 29th. JMP Securities reissued a “market perform” rating on shares of Ubiquiti Networks in a report on Wednesday, September 27th. Zacks Investment Research raised Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a report on Thursday, October 5th. BMO Capital Markets dropped their target price on Ubiquiti Networks from $66.00 to $60.00 and set a “positive” rating for the company in a report on Friday, November 10th. Finally, ValuEngine raised Ubiquiti Networks from a “hold” rating to a “buy” rating in a report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $56.86.
Shares of Ubiquiti Networks, Inc. (NASDAQ:UBNT) opened at $66.67 on Thursday. Ubiquiti Networks, Inc. has a twelve month low of $45.71 and a twelve month high of $68.14. The firm has a market capitalization of $5,177.28, a price-to-earnings ratio of 21.18, a PEG ratio of 1.04 and a beta of 0.51.
Ubiquiti Networks (NASDAQ:UBNT) last posted its quarterly earnings results on Thursday, November 9th. The Wireless communications provider reported $0.92 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.06. The business had revenue of $245.90 million during the quarter, compared to the consensus estimate of $240.39 million. Ubiquiti Networks had a return on equity of 45.45% and a net margin of 28.76%. Ubiquiti Networks’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.79 earnings per share. equities research analysts anticipate that Ubiquiti Networks, Inc. will post 3.35 earnings per share for the current fiscal year.
Ubiquiti Networks declared that its board has approved a share buyback plan on Tuesday, September 5th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the Wireless communications provider to buy up to 18% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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Ubiquiti Networks Company Profile
Ubiquiti Networks, Inc develops performance networking technology for service providers and enterprises. The Company offers a portfolio of networking products and solutions. Its service provider product platforms provide carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems and routing.
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