Ubiquiti Networks, Inc. (NASDAQ:UBNT) insider Robert J. Pera sold 1,000,000 shares of Ubiquiti Networks stock in a transaction that occurred on Monday, August 28th. The shares were 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 in the company, valued at $3,447,038,586.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Ubiquiti Networks, Inc. (NASDAQ UBNT) traded up 0.57% during mid-day trading on Wednesday, reaching $61.80. The company’s stock had a trading volume of 427,122 shares. The firm’s 50 day moving average price is $58.67 and its 200 day moving average price is $52.35. The firm has a market capitalization of $4.97 billion, a P/E ratio of 20.00 and a beta of 0.48. Ubiquiti Networks, Inc. has a 52 week low of $45.71 and a 52 week high of $67.80.

Ubiquiti Networks (NASDAQ:UBNT) last released its earnings results on Thursday, August 3rd. The Wireless communications provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. Ubiquiti Networks had a net margin of 29.76% and a return on equity of 47.10%. The firm had revenue of $228.60 million during the quarter, compared to analyst estimates of $219.14 million. During the same quarter in the previous year, the business earned $0.69 EPS. The business’s quarterly revenue was up 23.1% compared to the same quarter last year. On average, analysts anticipate that Ubiquiti Networks, Inc. will post $3.61 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This piece was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece on another site, it was copied illegally and republished in violation of United States and international copyright and trademark law. The original version of this piece can be accessed at https://www.thecerbatgem.com/2017/08/30/insider-selling-ubiquiti-networks-inc-ubnt-insider-sells-1000000-shares-of-stock.html.

Hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in Ubiquiti Networks by 4.3% in the second quarter. PNC Financial Services Group Inc. now owns 1,958 shares of the Wireless communications provider’s stock worth $102,000 after buying an additional 80 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Ubiquiti Networks during the first quarter worth approximately $113,000. Pacer Advisors Inc. raised its stake in Ubiquiti Networks by 22.2% in the first quarter. Pacer Advisors Inc. now owns 2,700 shares of the Wireless communications provider’s stock worth $136,000 after buying an additional 490 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Ubiquiti Networks during the second quarter worth approximately $144,000. Finally, Lazard Asset Management LLC raised its stake in Ubiquiti Networks by 26.0% in the first quarter. Lazard Asset Management LLC now owns 3,683 shares of the Wireless communications provider’s stock worth $185,000 after buying an additional 760 shares in the last quarter. 30.95% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently weighed in on UBNT shares. Vetr downgraded Ubiquiti Networks from a “strong-buy” rating to a “buy” rating and set a $55.50 price target on the stock. in a research note on Monday, June 26th. Deutsche Bank AG lifted their price target on Ubiquiti Networks from $40.00 to $44.00 and gave the company a “hold” rating in a research note on Monday, August 7th. Zacks Investment Research downgraded Ubiquiti Networks from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. Credit Suisse Group restated a “sell” rating and issued a $44.00 price target on shares of Ubiquiti Networks in a research note on Tuesday, May 2nd. Finally, BidaskClub upgraded Ubiquiti Networks from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $56.31.

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.

Receive News & Stock Ratings for Ubiquiti Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ubiquiti Networks Inc. and related stocks with our FREE daily email newsletter.