Ubiquiti (NYSE:UI) Given New $247.00 Price Target at Barclays

by · The Cerbat Gem

Ubiquiti (NYSE:UI – Get Free Report) had its price target upped by investment analysts at Barclays from $222.00 to $247.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Barclays‘s price target indicates a potential downside of 42.92% from the company’s current price.

Separately, BWS Financial reiterated a “buy” rating and issued a $440.00 price objective on shares of Ubiquiti in a research note on Monday.

Read Our Latest Analysis on Ubiquiti

Ubiquiti Stock Performance

Shares of NYSE:UI traded up $19.23 during trading on Monday, reaching $432.75. The company had a trading volume of 184,152 shares, compared to its average volume of 81,864. The firm has a market capitalization of $26.18 billion, a price-to-earnings ratio of 58.80 and a beta of 1.32. Ubiquiti has a fifty-two week low of $128.07 and a fifty-two week high of $469.98. The stock’s fifty day moving average price is $315.01 and its 200 day moving average price is $336.19. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.22 and a quick ratio of 0.98.

Ubiquiti (NYSE:UI – Get Free Report) last released its earnings results on Friday, February 14th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.12. Ubiquiti had a return on equity of 296.82% and a net margin of 20.68%. During the same quarter in the previous year, the business posted $1.36 EPS. As a group, equities research analysts predict that Ubiquiti will post 7.21 EPS for the current year.

Insider Buying and Selling

In other Ubiquiti news, CAO Kevin Radigan sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $347.99, for a total value of $347,990.00. Following the completion of the transaction, the chief accounting officer now owns 2,484 shares in the company, valued at $864,407.16. This represents a 28.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 93.10% of the company’s stock.

Hedge Funds Weigh In On Ubiquiti

Several institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC increased its holdings in Ubiquiti by 1.2% in the fourth quarter. Renaissance Technologies LLC now owns 199,964 shares of the company’s stock valued at $66,374,000 after buying an additional 2,400 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Ubiquiti by 926.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 113,305 shares of the company’s stock worth $37,609,000 after purchasing an additional 102,268 shares during the period. TD Asset Management Inc bought a new stake in Ubiquiti during the first quarter valued at $34,013,000. Pacer Advisors Inc. raised its holdings in shares of Ubiquiti by 76.2% during the first quarter. Pacer Advisors Inc. now owns 108,934 shares of the company’s stock worth $33,785,000 after purchasing an additional 47,109 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of Ubiquiti by 100.1% in the 4th quarter. AQR Capital Management LLC now owns 99,199 shares of the company’s stock worth $32,927,000 after buying an additional 49,616 shares during the last quarter. 4.00% of the stock is currently owned by hedge funds and other institutional investors.

About Ubiquiti

(Get Free Report)

Ubiquiti Inc develops networking technology for service providers, enterprises, and consumers. The company develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use. Its service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing and related software; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, door access systems, and other WLAN products.

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