Oppenheimer & Co. Inc. Trims Stake in Ubiquiti Inc. (NYSE:UI)

Oppenheimer & Co. Inc. trimmed its stake in Ubiquiti Inc. (NYSE:UI) by 2.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,434 shares of the company’s stock after selling 437 shares during the period. Oppenheimer & Co. Inc.’s holdings in Ubiquiti were worth $5,455,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Huntington National Bank increased its stake in shares of Ubiquiti by 267.6% in the 3rd quarter. Huntington National Bank now owns 125 shares of the company’s stock worth $28,000 after purchasing an additional 91 shares in the last quarter. Venturi Wealth Management LLC increased its stake in shares of Ubiquiti by 71.1% in the 4th quarter. Venturi Wealth Management LLC now owns 130 shares of the company’s stock worth $43,000 after purchasing an additional 54 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Ubiquiti by 78.8% in the 4th quarter. Blue Trust Inc. now owns 143 shares of the company’s stock worth $47,000 after purchasing an additional 63 shares in the last quarter. Financial Perspectives Inc increased its stake in Ubiquiti by 152.2% in the 4th quarter. Financial Perspectives Inc now owns 169 shares of the company’s stock worth $56,000 after buying an additional 102 shares in the last quarter. Finally, Principal Securities Inc. increased its stake in Ubiquiti by 89.3% in the 4th quarter. Principal Securities Inc. now owns 229 shares of the company’s stock worth $76,000 after buying an additional 108 shares in the last quarter. 4.00% of the stock is currently owned by hedge funds and other institutional investors.

Ubiquiti Trading Up 2.7 %

Shares of UI stock opened at $341.70 on Friday. The stock has a fifty day simple moving average of $368.39 and a two-hundred day simple moving average of $297.77. Ubiquiti Inc. has a 52-week low of $104.24 and a 52-week high of $469.98. The firm has a market capitalization of $20.67 billion, a PE ratio of 46.43 and a beta of 1.14. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.98 and a current ratio of 2.22.

Ubiquiti (NYSE:UI) last released its quarterly earnings data on Friday, February 14th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.14 by $0.12. Ubiquiti had a net margin of 20.68% and a return on equity of 296.82%. During the same quarter in the prior year, the firm posted $1.36 earnings per share. On average, analysts predict that Ubiquiti Inc. will post 7.21 EPS for the current fiscal year.

Ubiquiti Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Tuesday, February 18th. Ubiquiti’s dividend payout ratio (DPR) is presently 32.61%.

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 completion of the transaction, the chief accounting officer now owns 2,484 shares of the company’s stock, valued at approximately $864,407.16. This trade represents a 28.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 93.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Barclays cut their price target on Ubiquiti from $236.00 to $222.00 and set an “underweight” rating for the company in a research note on Monday, February 10th. StockNews.com upgraded Ubiquiti from a “hold” rating to a “buy” rating in a research note on Sunday, November 17th. Finally, BWS Financial reiterated a “buy” rating and issued a $440.00 price target on shares of Ubiquiti in a research note on Monday, February 10th.

About Ubiquiti

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.