Disciplined Growth Investors Inc. MN reduced its stake in Ubiquiti Networks Inc (NASDAQ:UBNT) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,536,461 shares of the Wireless communications provider’s stock after selling 22,513 shares during the period. Ubiquiti Networks makes up about 2.4% of Disciplined Growth Investors Inc. MN’s investment portfolio, making the stock its 12th biggest holding. Disciplined Growth Investors Inc. MN owned approximately 2.07% of Ubiquiti Networks worth $130,169,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in Ubiquiti Networks by 8.3% in the 1st quarter. BlackRock Inc. now owns 1,601,726 shares of the Wireless communications provider’s stock valued at $110,198,000 after purchasing an additional 123,254 shares in the last quarter. Anchor Capital Advisors LLC increased its holdings in Ubiquiti Networks by 1.0% in the 1st quarter. Anchor Capital Advisors LLC now owns 357,459 shares of the Wireless communications provider’s stock valued at $24,593,000 after purchasing an additional 3,679 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Ubiquiti Networks by 9.9% in the 2nd quarter. Renaissance Technologies LLC now owns 332,300 shares of the Wireless communications provider’s stock valued at $28,152,000 after purchasing an additional 29,800 shares in the last quarter. Sei Investments Co. increased its holdings in Ubiquiti Networks by 0.5% in the 2nd quarter. Sei Investments Co. now owns 208,321 shares of the Wireless communications provider’s stock valued at $17,648,000 after purchasing an additional 979 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in Ubiquiti Networks in the 2nd quarter valued at $15,342,000. Hedge funds and other institutional investors own 26.06% of the company’s stock.
NASDAQ:UBNT opened at $97.76 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 8.87 and a quick ratio of 7.96. The stock has a market capitalization of $7.10 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 1.52 and a beta of 1.16. Ubiquiti Networks Inc has a 1-year low of $47.78 and a 1-year high of $98.83.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 10th. Shareholders of record on Tuesday, September 4th were given a $0.25 dividend. The ex-dividend date was Friday, August 31st. This represents a $1.00 dividend on an annualized basis and a yield of 1.02%. Ubiquiti Networks’s payout ratio is currently 27.32%.
In other Ubiquiti Networks news, VP Benjamin Moore sold 100,000 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $87.91, for a total value of $8,791,000.00. Following the completion of the transaction, the vice president now directly owns 673,206 shares of the company’s stock, valued at approximately $59,181,539.46. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 70.34% of the company’s stock.
Several analysts recently issued reports on UBNT shares. TheStreet upgraded Ubiquiti Networks from a “c+” rating to a “b+” rating in a report on Wednesday, May 23rd. Zacks Investment Research downgraded Ubiquiti Networks from a “buy” rating to a “hold” rating in a report on Sunday, July 15th. Credit Suisse Group set a $73.00 price target on Ubiquiti Networks and gave the company a “hold” rating in a report on Wednesday, July 18th. ValuEngine downgraded Ubiquiti Networks from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 26th. Finally, BidaskClub downgraded Ubiquiti Networks from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 1st. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $78.35.
Ubiquiti Networks Profile
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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