Ubiquiti Inc. (NYSE:UI) Shares Sold by Claret Asset Management Corp

Claret Asset Management Corp trimmed its holdings in shares of Ubiquiti Inc. (NYSE:UI) by 1.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,623 shares of the company’s stock after selling 540 shares during the period. Ubiquiti comprises approximately 1.6% of Claret Asset Management Corp’s investment portfolio, making the stock its 16th biggest position. Claret Asset Management Corp’s holdings in Ubiquiti were worth $9,833,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in UI. Farther Finance Advisors LLC increased its position in shares of Ubiquiti by 47.0% in the fourth quarter. Farther Finance Advisors LLC now owns 122 shares of the company’s stock worth $40,000 after acquiring an additional 39 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in Ubiquiti by 71.1% in the 4th quarter. Venturi Wealth Management LLC now owns 130 shares of the company’s stock worth $43,000 after purchasing an additional 54 shares during the period. Blue Trust Inc. grew its position in Ubiquiti by 78.8% during the 4th quarter. Blue Trust Inc. now owns 143 shares of the company’s stock worth $47,000 after purchasing an additional 63 shares in the last quarter. Sterling Capital Management LLC raised its stake in Ubiquiti by 30.2% during the 4th quarter. Sterling Capital Management LLC now owns 168 shares of the company’s stock valued at $56,000 after purchasing an additional 39 shares during the period. Finally, Financial Perspectives Inc raised its stake in Ubiquiti by 152.2% during the 4th quarter. Financial Perspectives Inc now owns 169 shares of the company’s stock valued at $56,000 after purchasing an additional 102 shares during the period. Institutional investors and hedge funds own 4.00% of the company’s stock.

Analysts Set New Price Targets

UI has been the subject of several research analyst reports. Barclays reduced their price objective on Ubiquiti from $236.00 to $222.00 and set an “underweight” rating for the company in a research note on Monday, February 10th. BWS Financial reissued a “buy” rating and issued a $440.00 price target on shares of Ubiquiti in a research report on Friday, April 4th.

Ubiquiti Stock Down 3.3 %

UI opened at $296.55 on Friday. Ubiquiti Inc. has a twelve month low of $104.46 and a twelve month high of $469.98. 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 business has a 50 day moving average price of $316.19 and a 200 day moving average price of $325.50. The firm has a market cap of $17.94 billion, a P/E ratio of 40.29 and a beta of 1.31.

Ubiquiti (NYSE:UI) last posted its quarterly earnings data on Friday, February 14th. The company reported $2.26 earnings per share (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 quarter in the prior year, the company posted $1.36 earnings per share. Research 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. Stockholders of record on Tuesday, February 18th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend was Tuesday, February 18th. Ubiquiti’s dividend payout ratio is currently 32.61%.

Insider Transactions at Ubiquiti

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 currently owned by corporate insiders.

Ubiquiti 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.