Zurcher Kantonalbank Zurich Cantonalbank Reduces Stake in Ubiquiti Networks Inc (UBNT)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in Ubiquiti Networks Inc (NASDAQ:UBNT) by 10.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,161 shares of the Wireless communications provider’s stock after selling 141 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ubiquiti Networks were worth $174,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of UBNT. CENTRAL TRUST Co grew its position in shares of Ubiquiti Networks by 700.0% during the 1st quarter. CENTRAL TRUST Co now owns 200 shares of the Wireless communications provider’s stock worth $30,000 after buying an additional 175 shares during the period. Bank of Montreal Can grew its position in shares of Ubiquiti Networks by 127.2% during the 1st quarter. Bank of Montreal Can now owns 1,956 shares of the Wireless communications provider’s stock worth $293,000 after buying an additional 9,139 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Ubiquiti Networks during the 1st quarter worth approximately $1,410,000. NewSquare Capital LLC grew its position in shares of Ubiquiti Networks by 5.3% during the 1st quarter. NewSquare Capital LLC now owns 2,185 shares of the Wireless communications provider’s stock worth $327,000 after buying an additional 110 shares during the period. Finally, Pennsylvania Trust Co acquired a new stake in shares of Ubiquiti Networks during the 1st quarter worth approximately $2,340,000. 22.21% of the stock is owned by hedge funds and other institutional investors.

Shares of UBNT opened at $128.08 on Friday. Ubiquiti Networks Inc has a 12-month low of $79.25 and a 12-month high of $174.95. The company has a current ratio of 5.03, a quick ratio of 2.63 and a debt-to-equity ratio of 2.33. The firm has a market capitalization of $9.04 billion, a P/E ratio of 34.99, a PEG ratio of 1.61 and a beta of 1.10.

Ubiquiti Networks (NASDAQ:UBNT) last issued its quarterly earnings data on Friday, May 10th. The Wireless communications provider reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.16. Ubiquiti Networks had a return on equity of 152.60% and a net margin of 28.11%. The business had revenue of $284.90 million for the quarter, compared to analysts’ expectations of $285.96 million. During the same period last year, the business earned $0.98 EPS. The business’s revenue was up 13.8% on a year-over-year basis. As a group, sell-side analysts forecast that Ubiquiti Networks Inc will post 4 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Monday, May 20th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.78%. The ex-dividend date is Friday, May 17th. Ubiquiti Networks’s dividend payout ratio (DPR) is presently 27.32%.

In other Ubiquiti Networks news, Director Ronald Sege sold 10,900 shares of the firm’s stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $147.60, for a total transaction of $1,608,840.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 78.70% of the stock is currently owned by company insiders.

UBNT has been the topic of a number of recent research reports. ValuEngine upgraded Ubiquiti Networks from a “buy” rating to a “strong-buy” rating in a report on Friday, February 8th. Deutsche Bank increased their target price on Ubiquiti Networks from $67.00 to $75.00 and gave the stock a “hold” rating in a report on Monday, February 11th. Zacks Investment Research cut Ubiquiti Networks from a “buy” rating to a “hold” rating in a report on Monday, February 18th. BidaskClub cut Ubiquiti Networks from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 25th. Finally, BMO Capital Markets increased their target price on Ubiquiti Networks from $99.00 to $120.00 and gave the stock a “market perform” rating in a report on Monday, February 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. Ubiquiti Networks presently has a consensus rating of “Hold” and a consensus price target of $101.00.

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Ubiquiti Networks Company 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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Institutional Ownership by Quarter for Ubiquiti Networks (NASDAQ:UBNT)

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