Tealwood Asset Management Inc. reduced its holdings in shares of Ubiquiti Networks Inc (NASDAQ:UBNT) by 6.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,908 shares of the Wireless communications provider’s stock after selling 1,620 shares during the quarter. Ubiquiti Networks comprises 1.6% of Tealwood Asset Management Inc.’s investment portfolio, making the stock its 14th biggest position. Tealwood Asset Management Inc.’s holdings in Ubiquiti Networks were worth $3,729,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Enlightenment Research LLC purchased a new stake in Ubiquiti Networks in the 4th quarter worth approximately $80,000. Bremer Trust National Association purchased a new stake in Ubiquiti Networks in the 4th quarter worth approximately $80,000. NumerixS Investment Technologies Inc purchased a new stake in Ubiquiti Networks in the 4th quarter worth approximately $99,000. Strs Ohio purchased a new stake in Ubiquiti Networks in the 4th quarter worth approximately $175,000. Finally, Meeder Asset Management Inc. purchased a new stake in Ubiquiti Networks in the 4th quarter worth approximately $176,000. Institutional investors own 22.49% of the company’s stock.
Shares of UBNT stock traded up $1.54 on Monday, hitting $167.31. 20,054 shares of the company’s stock traded hands, compared to its average volume of 358,436. The company has a debt-to-equity ratio of 3.58, a quick ratio of 2.63 and a current ratio of 3.73. Ubiquiti Networks Inc has a one year low of $69.44 and a one year high of $166.63. The firm has a market cap of $11.71 billion, a P/E ratio of 45.62, a P/E/G ratio of 2.02 and a beta of 1.07.
Ubiquiti Networks (NASDAQ:UBNT) last released its earnings results on Friday, February 8th. The Wireless communications provider reported $1.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.30. Ubiquiti Networks had a net margin of 30.29% and a return on equity of 132.49%. The company had revenue of $307.28 million for the quarter, compared to analyst estimates of $276.44 million. During the same quarter last year, the firm earned $0.76 EPS. The firm’s quarterly revenue was up 22.5% compared to the same quarter last year. As a group, analysts forecast that Ubiquiti Networks Inc will post 4 EPS for the current year.
In related news, Director Ronald Sege sold 10,900 shares of the stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $147.60, for a total transaction of $1,608,840.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 78.70% of the stock is currently owned by company insiders.
A number of equities analysts have recently commented on the stock. Zacks Investment Research lowered shares of Ubiquiti Networks from a “buy” rating to a “hold” rating in a report on Monday, January 28th. Credit Suisse Group reissued a “hold” rating and issued a $86.00 price target on shares of Ubiquiti Networks in a report on Thursday, December 20th. BidaskClub lowered shares of Ubiquiti Networks from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 22nd. Finally, Deutsche Bank increased their price target on shares of Ubiquiti Networks from $67.00 to $75.00 and gave the stock a “hold” rating in a report on Monday, February 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $101.00.
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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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