Fiera Capital Corp reduced its position in shares of Ubiquiti Networks, Inc. (NASDAQ:UBNT) by 13.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 101,402 shares of the Wireless communications provider’s stock after selling 16,099 shares during the quarter. Fiera Capital Corp owned about 0.13% of Ubiquiti Networks worth $5,270,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of UBNT. Ameritas Investment Partners Inc. bought a new stake in Ubiquiti Networks in the first quarter worth $113,000. Pacer Advisors Inc. lifted its position in shares of Ubiquiti Networks by 22.2% during the first quarter. Pacer Advisors Inc. now owns 2,700 shares of the Wireless communications provider’s stock worth $136,000 after purchasing an additional 490 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Ubiquiti Networks during the second quarter worth $144,000. Lazard Asset Management LLC lifted its position in shares of Ubiquiti Networks by 26.0% during the first quarter. Lazard Asset Management LLC now owns 3,683 shares of the Wireless communications provider’s stock worth $185,000 after purchasing an additional 760 shares during the last quarter. Finally, Hikari Power Ltd bought a new stake in shares of Ubiquiti Networks during the second quarter worth $205,000. Hedge funds and other institutional investors own 30.85% of the company’s stock.
Several analysts have recently weighed in on the company. Vetr downgraded Ubiquiti Networks from a “strong-buy” rating to a “buy” rating and set a $55.50 target price for the company. in a research report on Monday, June 5th. BidaskClub upgraded Ubiquiti Networks from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Deutsche Bank AG raised their price target on Ubiquiti Networks from $40.00 to $44.00 and gave the stock a “hold” rating in a report on Monday, August 7th. Zacks Investment Research downgraded Ubiquiti Networks from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Finally, ValuEngine downgraded Ubiquiti Networks from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $56.31.
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In other news, insider Robert J. Pera sold 1,000,000 shares of Ubiquiti Networks stock in a transaction on Monday, August 28th. The stock was sold at an average price of $61.25, for a total value of $61,250,000.00. Following the completion of the sale, the insider now owns 56,278,181 shares of the company’s stock, valued at $3,447,038,586.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 70.34% of the stock is owned by insiders.
Shares of Ubiquiti Networks, Inc. (NASDAQ UBNT) opened at 54.95 on Monday. Ubiquiti Networks, Inc. has a one year low of $45.71 and a one year high of $67.80. The stock has a market capitalization of $4.42 billion, a PE ratio of 17.78 and a beta of 0.51. The firm has a 50-day moving average price of $61.45 and a 200 day moving average price of $52.94.
Ubiquiti Networks (NASDAQ:UBNT) last announced its quarterly earnings data on Thursday, August 3rd. The Wireless communications provider reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.06. The business had revenue of $228.60 million during the quarter, compared to the consensus estimate of $219.14 million. Ubiquiti Networks had a return on equity of 45.87% and a net margin of 29.76%. The business’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.69 earnings per share. On average, equities analysts expect that Ubiquiti Networks, Inc. will post $3.61 EPS for the current fiscal year.
Ubiquiti Networks declared that its Board of Directors has authorized a share buyback plan on Tuesday, September 5th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the Wireless communications provider to reacquire up to 18% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
Ubiquiti Networks Profile
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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