Insider Selling: Ubiquiti Networks, Inc. (UBNT) Insider Sells 1,000,000 Shares of Stock
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.
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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.
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