SP Asset Management LLC Sells 673 Shares of Ubiquiti Inc. $UI

SP Asset Management LLC cut its stake in shares of Ubiquiti Inc. (NYSE:UI) by 51.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 627 shares of the company’s stock after selling 673 shares during the period. SP Asset Management LLC’s holdings in Ubiquiti were worth $347,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in UI. Blue Trust Inc. boosted its holdings in Ubiquiti by 87.5% during the fourth quarter. Blue Trust Inc. now owns 45 shares of the company’s stock worth $25,000 after buying an additional 21 shares during the last quarter. Cherry Tree Wealth Management LLC acquired a new position in shares of Ubiquiti during the 3rd quarter worth about $33,000. Quarry LP bought a new stake in shares of Ubiquiti in the 3rd quarter valued at about $34,000. Exchange Traded Concepts LLC increased its stake in shares of Ubiquiti by 31.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 76 shares of the company’s stock valued at $50,000 after acquiring an additional 18 shares during the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of Ubiquiti in the 4th quarter valued at approximately $65,000. Institutional investors own 4.00% of the company’s stock.

Ubiquiti Price Performance

NYSE:UI opened at $1,038.43 on Friday. Ubiquiti Inc. has a fifty-two week low of $302.76 and a fifty-two week high of $1,099.99. The stock has a market capitalization of $62.85 billion, a PE ratio of 70.74 and a beta of 1.32. The business’s 50-day simple moving average is $827.29 and its 200-day simple moving average is $687.38.

Ubiquiti (NYSE:UI) last posted its earnings results on Friday, February 6th. The company reported $3.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.08 by $0.80. The business had revenue of $814.87 million during the quarter, compared to analysts’ expectations of $716.95 million. Ubiquiti had a return on equity of 113.21% and a net margin of 29.90%.Ubiquiti’s revenue for the quarter was up 35.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.28 EPS. On average, research analysts expect that Ubiquiti Inc. will post 14.04 earnings per share for the current year.

Ubiquiti Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 23rd. Stockholders of record on Tuesday, February 17th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Tuesday, February 17th. Ubiquiti’s dividend payout ratio is 21.80%.

Analysts Set New Price Targets

Several research analysts recently weighed in on UI shares. Zacks Research lowered shares of Ubiquiti from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Wall Street Zen raised shares of Ubiquiti from a “hold” rating to a “buy” rating in a research note on Sunday, April 19th. BWS Financial increased their target price on shares of Ubiquiti from $720.00 to $980.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Weiss Ratings raised shares of Ubiquiti from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 23rd. Finally, Barclays boosted their price target on shares of Ubiquiti from $455.00 to $527.00 and gave the company an “underweight” rating in a report on Friday, February 6th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $702.33.

About Ubiquiti

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.