Zweig DiMenna Associates LLC Invests $267,000 in Ubiquiti Networks Inc (UBNT)

Zweig DiMenna Associates LLC purchased a new stake in shares of Ubiquiti Networks Inc (NASDAQ:UBNT) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,700 shares of the Wireless communications provider’s stock, valued at approximately $267,000.

A number of other institutional investors have also added to or reduced their stakes in UBNT. FTB Advisors Inc. raised its stake in shares of Ubiquiti Networks by 1,940.8% in the second quarter. FTB Advisors Inc. now owns 2,000 shares of the Wireless communications provider’s stock valued at $169,000 after acquiring an additional 1,902 shares during the period. Public Employees Retirement Association of Colorado raised its stake in shares of Ubiquiti Networks by 48.6% in the second quarter. Public Employees Retirement Association of Colorado now owns 2,182 shares of the Wireless communications provider’s stock valued at $185,000 after acquiring an additional 714 shares during the period. State of Alaska Department of Revenue purchased a new stake in shares of Ubiquiti Networks in the second quarter valued at $198,000. CIBC Asset Management Inc purchased a new stake in shares of Ubiquiti Networks in the second quarter valued at $232,000. Finally, HPM Partners LLC purchased a new stake in shares of Ubiquiti Networks in the second quarter valued at $258,000. 26.05% of the stock is currently owned by institutional investors.

UBNT stock opened at $90.24 on Wednesday. The stock has a market capitalization of $7.32 billion, a P/E ratio of 24.66, a P/E/G ratio of 1.57 and a beta of 1.18. Ubiquiti Networks Inc has a 12 month low of $49.40 and a 12 month high of $101.33. The company has a current ratio of 8.87, a quick ratio of 7.96 and a debt-to-equity ratio of 1.46.

Ubiquiti Networks (NASDAQ:UBNT) last posted its quarterly earnings results on Friday, August 24th. The Wireless communications provider reported $1.01 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.01. The company had revenue of $269.80 million for the quarter, compared to the consensus estimate of $256.03 million. Ubiquiti Networks had a net margin of 19.30% and a return on equity of 69.24%. The firm’s revenue was up 18.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.75 EPS. On average, equities research analysts expect that Ubiquiti Networks Inc will post 3.4 EPS for the current fiscal year.

In other Ubiquiti Networks news, VP Benjamin Moore sold 100,000 shares of the stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $87.91, for a total transaction of $8,791,000.00. Following the transaction, the vice president now directly owns 673,206 shares in the company, valued at approximately $59,181,539.46. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 72.80% of the stock is owned by corporate insiders.

Several brokerages have recently weighed in on UBNT. BidaskClub downgraded shares of Ubiquiti Networks from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 9th. Zacks Investment Research raised shares of Ubiquiti Networks from a “hold” rating to a “strong-buy” rating and set a $103.00 target price on the stock in a research note on Thursday, August 30th. BMO Capital Markets increased their target price on shares of Ubiquiti Networks to $80.00 and gave the company a “market perform” rating in a research note on Monday, August 27th. Credit Suisse Group set a $79.00 target price on shares of Ubiquiti Networks and gave the company a “hold” rating in a research note on Monday, August 27th. Finally, ValuEngine downgraded shares of Ubiquiti Networks from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 26th. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Ubiquiti Networks presently has a consensus rating of “Buy” and a consensus target price of $78.35.

About Ubiquiti Networks

Ubiquiti Networks, Inc develops networking technology for service providers, enterprises, and consumers. It focuses on three principal technologies, including high-capacity distributed Internet access, unified information technology, and consumer electronics for home and personal use. The company's service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, and other WLAN products, as well as offers consumer products under the Ubiquiti Labs brand name.

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

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