Ubiquiti Networks Inc. (UBNT) Stake Raised by GAM Holding AG
GAM Holding AG boosted its stake in Ubiquiti Networks Inc. (NASDAQ:UBNT) by 210.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,390 shares of the company’s stock after buying an additional 74,150 shares during the period. GAM Holding AG owned about 0.13% of Ubiquiti Networks worth $5,878,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its position in Ubiquiti Networks by 234.1% in the third quarter. PNC Financial Services Group Inc. now owns 1,958 shares of the company’s stock valued at $105,000 after buying an additional 1,372 shares during the period. BNP Paribas Arbitrage SA raised its position in Ubiquiti Networks by 110.0% in the third quarter. BNP Paribas Arbitrage SA now owns 2,115 shares of the company’s stock valued at $113,000 after buying an additional 1,108 shares during the period. Orinda Asset Management LLC purchased a new position in Ubiquiti Networks during the third quarter valued at approximately $134,000. Daiwa Securities Group Inc. purchased a new position in Ubiquiti Networks during the third quarter valued at approximately $150,000. Finally, Teacher Retirement System of Texas raised its position in Ubiquiti Networks by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 4,140 shares of the company’s stock valued at $160,000 after buying an additional 501 shares during the period. Hedge funds and other institutional investors own 30.11% of the company’s stock.
Shares of Ubiquiti Networks Inc. (NASDAQ:UBNT) traded down 0.51% during mid-day trading on Tuesday, reaching $56.85. 219,473 shares of the company were exchanged. The stock has a market capitalization of $4.67 billion, a P/E ratio of 20.76 and a beta of 1.32. The stock has a 50 day moving average price of $53.10 and a 200-day moving average price of $47.34. Ubiquiti Networks Inc. has a 12 month low of $25.75 and a 12 month high of $57.74.
Ubiquiti Networks (NASDAQ:UBNT) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.10. Ubiquiti Networks had a net margin of 32.19% and a return on equity of 50.98%. The company earned $204.80 million during the quarter, compared to the consensus estimate of $183.58 million. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The firm’s quarterly revenue was up 35.3% on a year-over-year basis. Analysts predict that Ubiquiti Networks Inc. will post $3.08 earnings per share for the current year.
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A number of research analysts have issued reports on UBNT shares. Zacks Investment Research upgraded shares of Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research note on Tuesday, August 9th. Morgan Stanley set a $28.00 price target on shares of Ubiquiti Networks and gave the company a “sell” rating in a research note on Friday, August 5th. Wunderlich upped their price target on shares of Ubiquiti Networks from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, November 4th. JMP Securities upgraded shares of Ubiquiti Networks from an “underperform” rating to a “market perform” rating in a research note on Friday, October 21st. Finally, Deutsche Bank AG set a $31.00 price target on shares of Ubiquiti Networks and gave the company a “hold” rating in a research note on Friday, August 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $40.50.
In related news, VP Benjamin Moore sold 150,000 shares of Ubiquiti Networks stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $51.20, for a total value of $7,680,000.00. Following the completion of the transaction, the vice president now owns 758 shares in the company, valued at $38,809.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 70.34% of the stock is currently owned by corporate insiders.
Ubiquiti Networks Company 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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