BNP Paribas Arbitrage SA increased its stake in shares of Ubiquiti Networks Inc. (NASDAQ:UBNT) by 110.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,115 shares of the company’s stock after buying an additional 1,108 shares during the period. BNP Paribas Arbitrage SA’s holdings in Ubiquiti Networks were worth $113,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Teacher Retirement System of Texas boosted 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 valued at $160,000 after buying an additional 501 shares during the last quarter. BlackRock Japan Co. Ltd boosted its position in Ubiquiti Networks by 177.1% in the second quarter. BlackRock Japan Co. Ltd now owns 4,373 shares of the company’s stock valued at $169,000 after buying an additional 2,795 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in Ubiquiti Networks during the second quarter valued at $182,000. Sawgrass Asset Management LLC bought a new position in Ubiquiti Networks during the second quarter valued at $205,000. Finally, Stifel Financial Corp bought a new position in Ubiquiti Networks during the second quarter valued at $209,000. 30.22% of the stock is owned by institutional investors.
Shares of Ubiquiti Networks Inc. (NASDAQ:UBNT) opened at 49.17 on Friday. The company has a market cap of $4.02 billion, a price-to-earnings ratio of 19.75 and a beta of 1.32. Ubiquiti Networks Inc. has a 12-month low of $25.75 and a 12-month high of $55.00. The stock has a 50 day moving average of $52.77 and a 200 day moving average of $43.06.
Ubiquiti Networks (NASDAQ:UBNT) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.05. The company earned $185.70 million during the quarter, compared to analysts’ expectations of $174.47 million. Ubiquiti Networks had a net margin of 32.06% and a return on equity of 47.65%. The firm’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 earnings per share. Equities research analysts predict that Ubiquiti Networks Inc. will post $2.78 earnings per share for the current fiscal year.
Several research firms recently weighed in on UBNT. Zacks Investment Research raised shares of Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research note on Tuesday, August 9th. Morgan Stanley set a $28.00 target price on shares of Ubiquiti Networks and gave the company a “sell” rating in a research note on Friday, August 5th. Wunderlich lifted their price objective on shares of Ubiquiti Networks from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. Finally, Deutsche Bank AG set a $31.00 price objective on shares of Ubiquiti Networks and gave the stock a “hold” rating in a research note on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. Ubiquiti Networks presently has an average rating of “Hold” and a consensus price target of $37.11.
In other Ubiquiti Networks news, VP Benjamin Moore sold 150,000 shares of the company’s stock in a transaction on Thursday, September 15th. The shares were 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 $38,809.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 69.08% of the company’s stock.
About Ubiquiti Networks
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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