Ubiquiti Networks Inc. (UBNT) Stake Raised by GAM Holding AG
GAM Holding AG increased its stake in Ubiquiti Networks Inc. (NASDAQ:UBNT) by 210.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 109,390 shares of the company’s stock after buying an additional 74,150 shares during the period. GAM Holding AG’s holdings in Ubiquiti Networks were worth $5,878,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in shares of Ubiquiti Networks by 234.1% in the third quarter. PNC Financial Services Group Inc. now owns 1,958 shares of the company’s stock valued at $105,000 after buying an additional 1,372 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Ubiquiti Networks by 110.0% in the third quarter. BNP Paribas Arbitrage SA now owns 2,115 shares of the company’s stock valued at $113,000 after buying an additional 1,108 shares in the last quarter. Orinda Asset Management LLC bought a new stake in shares of Ubiquiti Networks during the third quarter valued at $134,000. Daiwa Securities Group Inc. bought a new stake in shares of Ubiquiti Networks during the third quarter valued at $150,000. Finally, Teacher Retirement System of Texas increased its stake in shares of Ubiquiti Networks by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 4,140 shares of the company’s stock valued at $160,000 after buying an additional 501 shares in the last quarter. Institutional investors and hedge funds own 30.11% of the company’s stock.
Shares of Ubiquiti Networks Inc. (NASDAQ:UBNT) traded down 0.51% during trading on Tuesday, reaching $56.85. 219,473 shares of the company’s stock traded hands. The company has a 50 day moving average of $53.10 and a 200-day moving average of $47.34. Ubiquiti Networks Inc. has a 1-year low of $25.75 and a 1-year high of $57.74. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of 20.76 and a beta of 1.32.
Ubiquiti Networks (NASDAQ:UBNT) last released its earnings results on Thursday, November 3rd. The company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.10. The company earned $204.80 million during the quarter, compared to analysts’ expectations of $183.58 million. Ubiquiti Networks had a return on equity of 50.98% and a net margin of 32.19%. The business’s revenue was up 35.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 EPS. Equities analysts predict that Ubiquiti Networks Inc. will post $3.08 earnings per share for the current year.
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Several brokerages have recently weighed in on UBNT. Zacks Investment Research upgraded shares of Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Tuesday, August 9th. Morgan Stanley set a $28.00 price objective on shares of Ubiquiti Networks and gave the stock a “sell” rating in a research report on Friday, August 5th. Wunderlich boosted their price objective on shares of Ubiquiti Networks from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday, November 4th. JMP Securities upgraded shares of Ubiquiti Networks from an “underperform” rating to a “market perform” rating in a research report on Friday, October 21st. Finally, Deutsche Bank AG set a $31.00 target price on shares of Ubiquiti Networks and gave the company a “hold” rating in a report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Ubiquiti Networks presently has a consensus rating of “Hold” and a consensus target price of $40.50.
In other news, VP Benjamin Moore sold 150,000 shares of the stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $51.20, for a total transaction of $7,680,000.00. Following the completion of 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 document filed with the SEC, which is accessible through this link. Insiders own 70.34% of the company’s stock.
About Ubiquiti Networks
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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