Harvest Fund Management Co. Ltd Grows Holdings in Ubiquiti Inc. (NYSE:UI)

Harvest Fund Management Co. Ltd increased its stake in Ubiquiti Inc. (NYSE:UI) by 578.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,866 shares of the company’s stock after buying an additional 3,296 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Ubiquiti were worth $1,284,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. grew its holdings 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 in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Ubiquiti during the fourth quarter worth about $15,425,000. Zacks Investment Management acquired a new position in Ubiquiti in the third quarter worth about $8,892,000. JPMorgan Chase & Co. increased its holdings in Ubiquiti by 20.4% in the third quarter. JPMorgan Chase & Co. now owns 29,813 shares of the company’s stock valued at $6,610,000 after buying an additional 5,045 shares during the last quarter. Finally, Wealthfront Advisers LLC acquired a new stake in Ubiquiti during the fourth quarter valued at approximately $9,274,000. 4.00% of the stock is owned by institutional investors and hedge funds.

Ubiquiti Price Performance

UI opened at $319.98 on Thursday. 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 company’s 50-day moving average price is $360.75 and its 200 day moving average price is $310.51. Ubiquiti Inc. has a fifty-two week low of $104.24 and a fifty-two week high of $469.98. The firm has a market cap of $19.36 billion, a price-to-earnings ratio of 43.48 and a beta of 1.12.

Ubiquiti (NYSE:UI) last announced its quarterly earnings results on Friday, February 14th. The company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates 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 previous year, the business posted $1.36 EPS. As a group, sell-side analysts expect that Ubiquiti Inc. will post 7.21 earnings per share for the current year.

Ubiquiti Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Tuesday, February 18th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.75%. The ex-dividend date was Tuesday, February 18th. Ubiquiti’s dividend payout ratio is presently 32.61%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. BWS Financial reiterated a “buy” rating and issued a $440.00 target price on shares of Ubiquiti in a research report on Monday, February 10th. Barclays decreased their price objective on shares of Ubiquiti from $236.00 to $222.00 and set an “underweight” rating for the company in a report on Monday, February 10th.

Insider Buying and Selling at Ubiquiti

In related news, CAO Kevin Radigan sold 1,000 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $347.99, for a total value of $347,990.00. Following the sale, the chief accounting officer now owns 2,484 shares of the company’s stock, valued at $864,407.16. This trade represents a 28.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 93.10% of the stock is currently owned by company 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.