Willis Investment Counsel Decreases Stock Holdings in Ubiquiti Inc. $UI

Willis Investment Counsel cut its stake in Ubiquiti Inc. (NYSE:UI) by 47.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,622 shares of the company’s stock after selling 2,323 shares during the period. Willis Investment Counsel’s holdings in Ubiquiti were worth $1,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in UI. Exchange Traded Concepts LLC boosted its stake in Ubiquiti by 31.0% during the third quarter. Exchange Traded Concepts LLC now owns 76 shares of the company’s stock worth $50,000 after buying an additional 18 shares during the last quarter. Cullen Frost Bankers Inc. raised its holdings in shares of Ubiquiti by 1,075.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 94 shares of the company’s stock worth $39,000 after acquiring an additional 86 shares during the period. Westside Investment Management Inc. boosted its position in shares of Ubiquiti by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 102 shares of the company’s stock valued at $69,000 after acquiring an additional 51 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of Ubiquiti by 200.0% in the second quarter. SBI Securities Co. Ltd. now owns 165 shares of the company’s stock valued at $68,000 after purchasing an additional 110 shares during the period. Finally, Financial Perspectives Inc raised its stake in Ubiquiti by 21.9% during the second quarter. Financial Perspectives Inc now owns 206 shares of the company’s stock worth $85,000 after purchasing an additional 37 shares during the period. Hedge funds and other institutional investors own 4.00% of the company’s stock.

Insider Buying and Selling at Ubiquiti

In related news, CAO Kevin Radigan sold 350 shares of Ubiquiti stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $576.58, for a total value of $201,803.00. Following the completion of the transaction, the chief accounting officer owned 2,768 shares in the company, valued at approximately $1,595,973.44. The trade was a 11.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 93.10% of the company’s stock.

Ubiquiti Stock Up 6.9%

NYSE:UI opened at $616.00 on Friday. Ubiquiti Inc. has a 52 week low of $255.00 and a 52 week high of $803.59. The stock’s fifty day moving average is $563.06 and its two-hundred day moving average is $577.91. The stock has a market capitalization of $37.27 billion, a price-to-earnings ratio of 47.82 and a beta of 1.40.

Ubiquiti (NYSE:UI) last posted its quarterly earnings data on Friday, February 6th. The company reported $3.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $1.07. Ubiquiti had a return on equity of 132.71% and a net margin of 28.72%.The firm had revenue of $814.87 million for the quarter, compared to the consensus estimate of $716.95 million. During the same quarter in the previous year, the business earned $2.28 EPS. The company’s quarterly revenue was up 35.8% compared to the same quarter last year. On average, sell-side analysts expect that Ubiquiti Inc. will post 7.21 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on UI shares. Barclays increased their price target on shares of Ubiquiti from $299.00 to $455.00 and gave the company an “underweight” rating in a research note on Tuesday, November 11th. Zacks Research upgraded Ubiquiti from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 3rd. Wall Street Zen cut Ubiquiti from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Ubiquiti in a research report on Monday, December 29th. Finally, BWS Financial reiterated a “buy” rating and set a $720.00 price target on shares of Ubiquiti in a report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $591.67.

About Ubiquiti

Ubiquiti Inc (NYSE: UI) is a U.S.-based technology company that designs and sells networking and wireless communication products for enterprise, service provider and consumer markets. Its product portfolio includes Wi?Fi access points, routers and gateways, managed Ethernet switches, network management software, and IP surveillance systems. Ubiquiti’s offerings are organized under several well?known lines—most notably UniFi for managed LAN/Wi?Fi and networked video, AmpliFi for consumer Wi?Fi, and product families targeting service?provider and point?to?point wireless broadband applications.

The company emphasizes integrated hardware and software solutions, with centralized management and cloud?enabled control as core features of its platform approach.