Ubiquiti Networks Inc. (NASDAQ:UBNT) VP Benjamin Moore sold 150,000 shares of Ubiquiti Networks stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $51.20, for a total value of $7,680,000.00. Following the transaction, the vice president now directly owns 758 shares in the company, valued at approximately $38,809.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Ubiquiti Networks Inc. (NASDAQ:UBNT) opened at 53.41 on Thursday. The stock has a market capitalization of $4.37 billion, a P/E ratio of 21.45 and a beta of 1.33. Ubiquiti Networks Inc. has a 1-year low of $25.75 and a 1-year high of $54.00. The company has a 50 day moving average price of $51.15 and a 200-day moving average price of $40.68.
Ubiquiti Networks (NASDAQ:UBNT) last released its earnings results on Thursday, August 4th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. Ubiquiti Networks had a return on equity of 47.65% and a net margin of 32.06%. The company had revenue of $185.70 million for the quarter, compared to the consensus estimate of $174.47 million. During the same quarter last year, the business posted $0.50 EPS. Ubiquiti Networks’s quarterly revenue was up 27.8% compared to the same quarter last year. On average, equities research analysts forecast that Ubiquiti Networks Inc. will post $2.78 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UBNT. UBS Asset Management Americas Inc. increased its position in Ubiquiti Networks by 2.1% in the second quarter. UBS Asset Management Americas Inc. now owns 19,800 shares of the company’s stock worth $765,000 after buying an additional 400 shares in the last quarter. AQR Capital Management LLC increased its position in Ubiquiti Networks by 0.5% in the second quarter. AQR Capital Management LLC now owns 97,443 shares of the company’s stock worth $3,767,000 after buying an additional 455 shares in the last quarter. Teacher Retirement System of Texas increased 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 worth $160,000 after buying an additional 501 shares in the last quarter. Bayesian Capital Management LP increased its position in Ubiquiti Networks by 8.1% in the first quarter. Bayesian Capital Management LP now owns 9,300 shares of the company’s stock worth $309,000 after buying an additional 700 shares in the last quarter. Finally, OLD National Bancorp IN increased its position in Ubiquiti Networks by 6.2% in the first quarter. OLD National Bancorp IN now owns 12,194 shares of the company’s stock worth $406,000 after buying an additional 716 shares in the last quarter. 30.22% of the stock is currently owned by institutional investors.
Several research analysts have commented on UBNT shares. Wunderlich lifted their price target on Ubiquiti Networks from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Zacks Investment Research raised Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a report on Tuesday, August 9th. Deutsche Bank AG set a $31.00 target price on Ubiquiti Networks and gave the company a “hold” rating in a report on Friday, August 5th. Finally, Morgan Stanley set a $35.00 target price on Ubiquiti Networks and gave the company a “sell” rating in a report on Thursday, August 11th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $37.11.
Ubiquiti Networks Company Profile
Ubiquiti Networks, Inc, develops high performance networking technology for service providers and enterprises. The Company’s technology platforms for service providers enable carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems and routing. The Company’s technology platforms for enterprises enable wireless local area network (WLAN) infrastructure, video surveillance products, and machine-to-machine communications.
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