Ubiquiti Networks Inc (UBNT) Shares Sold by Bank of Montreal Can

Bank of Montreal Can cut its stake in Ubiquiti Networks Inc (NASDAQ:UBNT) by 34.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,298 shares of the Wireless communications provider’s stock after selling 7,631 shares during the period. Bank of Montreal Can’s holdings in Ubiquiti Networks were worth $719,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Renaissance Technologies LLC boosted its position in shares of Ubiquiti Networks by 17.7% in the fourth quarter. Renaissance Technologies LLC now owns 754,200 shares of the Wireless communications provider’s stock valued at $43,593,000 after buying an additional 113,400 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of Ubiquiti Networks by 6.9% in the third quarter. BlackRock Fund Advisors now owns 692,737 shares of the Wireless communications provider’s stock valued at $37,061,000 after buying an additional 44,636 shares during the last quarter. State Street Corp boosted its position in shares of Ubiquiti Networks by 3.5% in the fourth quarter. State Street Corp now owns 494,652 shares of the Wireless communications provider’s stock valued at $28,591,000 after buying an additional 16,542 shares during the last quarter. Norges Bank purchased a new position in shares of Ubiquiti Networks during the fourth quarter valued at approximately $24,664,000. Finally, Origin Asset Management LLP boosted its position in shares of Ubiquiti Networks by 16.0% in the fourth quarter. Origin Asset Management LLP now owns 292,799 shares of the Wireless communications provider’s stock valued at $16,924,000 after buying an additional 40,300 shares during the last quarter. 30.70% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Ubiquiti Networks (NASDAQ:UBNT)

Ubiquiti Networks Inc (NASDAQ:UBNT) traded up 0.35% during mid-day trading on Friday, hitting $48.47. 452,503 shares of the company traded hands. Ubiquiti Networks Inc has a one year low of $36.13 and a one year high of $64.62. The company has a market capitalization of $3.89 billion, a price-to-earnings ratio of 15.93 and a beta of 0.31. The company’s 50-day moving average price is $48.84 and its 200 day moving average price is $52.93.

Ubiquiti Networks (NASDAQ:UBNT) last issued its quarterly earnings data on Thursday, May 4th. The Wireless communications provider reported $0.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.09. Ubiquiti Networks had a return on equity of 46.25% and a net margin of 29.51%. The business had revenue of $218.36 million during the quarter, compared to analyst estimates of $213.63 million. During the same period in the previous year, the firm earned $0.63 EPS. Ubiquiti Networks’s quarterly revenue was up 30.4% compared to the same quarter last year. On average, analysts anticipate that Ubiquiti Networks Inc will post $3.02 earnings per share for the current fiscal year.

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Several brokerages have commented on UBNT. Vetr cut shares of Ubiquiti Networks from a “strong-buy” rating to a “buy” rating and set a $55.50 target price for the company. in a report on Monday, June 5th. Zacks Investment Research upgraded shares of Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a report on Saturday, February 18th. Deutsche Bank AG raised their target price on shares of Ubiquiti Networks from $38.00 to $40.00 and gave the stock a “hold” rating in a report on Monday, May 8th. Finally, Credit Suisse Group reiterated a “sell” rating and issued a $44.00 target price on shares of Ubiquiti Networks in a report on Tuesday, May 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $48.75.

About Ubiquiti Networks

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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