Pacer Advisors Inc. Raises Stake in Ubiquiti Inc. $UI

Pacer Advisors Inc. increased its holdings in shares of Ubiquiti Inc. (NYSE:UI) by 26.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,594 shares of the company’s stock after purchasing an additional 1,593 shares during the quarter. Pacer Advisors Inc.’s holdings in Ubiquiti were worth $6,001,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. increased its position in shares of Ubiquiti by 87.5% in the fourth quarter. Blue Trust Inc. now owns 45 shares of the company’s stock worth $25,000 after acquiring an additional 21 shares in the last quarter. Vision Retirement LLC purchased a new position in shares of Ubiquiti in the 1st quarter valued at $25,000. Quarry LP acquired a new position in shares of Ubiquiti during the 3rd quarter valued at $34,000. CIBC Private Wealth Group LLC lifted its holdings in shares of Ubiquiti by 238.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 71 shares of the company’s stock valued at $39,000 after acquiring an additional 50 shares in the last quarter. Finally, Cherry Tree Wealth Management LLC boosted its position in Ubiquiti by 50.0% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 75 shares of the company’s stock worth $42,000 after purchasing an additional 25 shares during the period. Hedge funds and other institutional investors own 4.00% of the company’s stock.

Ubiquiti Price Performance

Ubiquiti stock opened at $568.45 on Thursday. Ubiquiti Inc. has a 12-month low of $380.00 and a 12-month high of $1,099.99. The company has a market capitalization of $34.40 billion, a price-to-earnings ratio of 36.53 and a beta of 1.31. The firm’s fifty day moving average price is $553.27 and its 200 day moving average price is $689.00.

Ubiquiti (NYSE:UI) last posted its quarterly earnings data on Friday, May 8th. The company reported $3.88 earnings per share for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.41). Ubiquiti had a net margin of 30.43% and a return on equity of 95.62%. The firm had revenue of $788.20 million during the quarter, compared to analysts’ expectations of $814.30 million. Ubiquiti’s quarterly revenue was up 18.7% on a year-over-year basis. Analysts forecast that Ubiquiti Inc. will post 14.82 earnings per share for the current fiscal year.

Analysts Set New Price Targets

UI has been the subject of several recent research reports. BWS Financial reiterated a “buy” rating and issued a $980.00 price target on shares of Ubiquiti in a report on Wednesday, July 8th. Barclays boosted their price objective on Ubiquiti from $527.00 to $672.00 and gave the stock an “underweight” rating in a research note on Monday, May 11th. Zacks Research raised Ubiquiti from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Wall Street Zen lowered Ubiquiti from a “buy” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Weiss Ratings downgraded Ubiquiti from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $750.67.

Ubiquiti Company Profile

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.