Wells Fargo & Company MN Increases Position in Ubiquiti Networks Inc (UBNT)

Wells Fargo & Company MN raised its holdings in shares of Ubiquiti Networks Inc (NASDAQ:UBNT) by 20.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 169,969 shares of the Wireless communications provider’s stock after acquiring an additional 29,090 shares during the quarter. Wells Fargo & Company MN owned about 0.22% of Ubiquiti Networks worth $9,521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of UBNT. Schwab Charles Investment Management Inc. raised its holdings in Ubiquiti Networks by 5.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 142,522 shares of the Wireless communications provider’s stock valued at $7,407,000 after acquiring an additional 7,334 shares during the period. SG Americas Securities LLC bought a new stake in Ubiquiti Networks during the 2nd quarter valued at $144,000. Bank of New York Mellon Corp raised its holdings in Ubiquiti Networks by 1.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 154,884 shares of the Wireless communications provider’s stock valued at $8,049,000 after acquiring an additional 1,482 shares during the period. BNP Paribas Arbitrage SA raised its holdings in Ubiquiti Networks by 138.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,198 shares of the Wireless communications provider’s stock valued at $218,000 after acquiring an additional 2,440 shares during the period. Finally, Virginia Retirement Systems ET AL raised its holdings in Ubiquiti Networks by 82.9% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 46,100 shares of the Wireless communications provider’s stock valued at $2,396,000 after acquiring an additional 20,900 shares during the period. 33.80% of the stock is currently owned by institutional investors and hedge funds.

UBNT has been the topic of a number of analyst reports. BidaskClub raised shares of Ubiquiti Networks from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 19th. ValuEngine raised shares of Ubiquiti Networks from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Zacks Investment Research cut shares of Ubiquiti Networks from a “buy” rating to a “hold” rating in a report on Thursday, November 16th. Vetr cut shares of Ubiquiti Networks from a “hold” rating to a “sell” rating and set a $71.07 target price on the stock. in a report on Thursday, January 4th. Finally, JMP Securities restated a “market perform” rating on shares of Ubiquiti Networks in a research report on Wednesday, September 27th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Ubiquiti Networks presently has a consensus rating of “Hold” and a consensus target price of $58.61.

Ubiquiti Networks Inc (NASDAQ UBNT) opened at $73.75 on Friday. The company has a market cap of $5,740.00, a price-to-earnings ratio of 23.41, a PEG ratio of 1.16 and a beta of 0.51. Ubiquiti Networks Inc has a 1 year low of $45.71 and a 1 year high of $76.93.

Ubiquiti Networks (NASDAQ:UBNT) last released its quarterly earnings results on Thursday, November 9th. The Wireless communications provider reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.06. The firm had revenue of $245.90 million during the quarter, compared to analyst estimates of $240.39 million. Ubiquiti Networks had a net margin of 28.76% and a return on equity of 45.45%. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.79 EPS. analysts forecast that Ubiquiti Networks Inc will post 3.35 EPS for the current year.

Ubiquiti Networks declared that its Board of Directors has initiated a stock repurchase program on Monday, September 18th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the Wireless communications provider to purchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

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Ubiquiti Networks Company Profile

Ubiquiti Networks, Inc develops performance networking technology for service providers and enterprises. The Company offers a portfolio of networking products and solutions. Its service provider product platforms provide carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems and routing.

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

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