Renaissance Technologies LLC Sells 3,920 Shares of Ubiquiti Inc. $UI

Renaissance Technologies LLC trimmed its stake in Ubiquiti Inc. (NYSE:UI) by 1.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 218,944 shares of the company’s stock after selling 3,920 shares during the quarter. Renaissance Technologies LLC owned approximately 0.36% of Ubiquiti worth $173,029,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in UI. M&T Bank Corp grew its position in shares of Ubiquiti by 7,845.7% in the 4th quarter. M&T Bank Corp now owns 98,527 shares of the company’s stock valued at $54,520,000 after acquiring an additional 97,287 shares during the period. Tudor Investment Corp ET AL boosted its stake in shares of Ubiquiti by 2,268.1% during the 3rd quarter. Tudor Investment Corp ET AL now owns 20,271 shares of the company’s stock worth $13,391,000 after acquiring an additional 19,415 shares during the period. Hsbc Holdings PLC increased its holdings in shares of Ubiquiti by 112.5% during the 4th quarter. Hsbc Holdings PLC now owns 4,138 shares of the company’s stock worth $2,290,000 after acquiring an additional 2,191 shares during the last quarter. Hussman Strategic Advisors Inc. increased its holdings in shares of Ubiquiti by 100.0% during the 4th quarter. Hussman Strategic Advisors Inc. now owns 8,400 shares of the company’s stock worth $4,648,000 after acquiring an additional 4,200 shares during the last quarter. Finally, Militia Capital Management LLC acquired a new position in shares of Ubiquiti during the 1st quarter worth approximately $1,581,000. Institutional investors and hedge funds own 4.00% of the company’s stock.

Ubiquiti Price Performance

Shares of NYSE:UI opened at $525.53 on Friday. Ubiquiti Inc. has a 1 year low of $380.00 and a 1 year high of $1,099.99. The stock has a market capitalization of $31.81 billion, a price-to-earnings ratio of 33.77 and a beta of 1.31. The company’s 50 day simple moving average is $562.09 and its 200 day simple moving average is $689.17.

Ubiquiti (NYSE:UI) last released its earnings results on Friday, May 8th. The company reported $3.88 earnings per share for the quarter, missing the consensus estimate of $4.29 by ($0.41). The business had revenue of $788.20 million for the quarter, compared to the consensus estimate of $814.30 million. Ubiquiti had a return on equity of 95.62% and a net margin of 30.43%.The business’s revenue was up 18.7% compared to the same quarter last year. As a group, analysts anticipate that Ubiquiti Inc. will post 14.82 EPS for the current fiscal year.

Ubiquiti Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Monday, May 18th were given a $0.80 dividend. The ex-dividend date was Monday, May 18th. This represents a $3.20 dividend on an annualized basis and a yield of 0.6%. Ubiquiti’s dividend payout ratio (DPR) is currently 20.57%.

Wall Street Analyst Weigh In

Several analysts recently commented on UI shares. Weiss Ratings downgraded shares of Ubiquiti from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 29th. BWS Financial restated a “buy” rating and issued a $980.00 price target on shares of Ubiquiti in a research note on Wednesday, July 8th. Zacks Research raised Ubiquiti from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Barclays lifted their price objective on shares of Ubiquiti from $527.00 to $672.00 and gave the stock an “underweight” rating in a research note on Monday, May 11th. Finally, Wall Street Zen downgraded shares of Ubiquiti from a “buy” rating to a “hold” rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $750.67.

Ubiquiti Profile

Ubiquiti Inc (NYSE: UI) is a U.S.-based technology company that designs and sells networking and wireless communication products for enterprise, service provider and consumer markets. Its product portfolio includes Wi?Fi access points, routers and gateways, managed Ethernet switches, network management software, and IP surveillance systems. Ubiquiti’s offerings are organized under several well?known lines—most notably UniFi for managed LAN/Wi?Fi and networked video, AmpliFi for consumer Wi?Fi, and product families targeting service?provider and point?to?point wireless broadband applications.

The company emphasizes integrated hardware and software solutions, with centralized management and cloud?enabled control as core features of its platform approach.