Geode Capital Management LLC raised its stake in shares of Ubiquiti Networks, Inc. (NASDAQ:UBNT) by 12.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 242,083 shares of the Wireless communications provider’s stock after buying an additional 26,557 shares during the period. Geode Capital Management LLC owned about 0.29% of Ubiquiti Networks worth $12,167,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of UBNT. Vanguard Group Inc. boosted its stake in shares of Ubiquiti Networks by 4.5% in the first quarter. Vanguard Group Inc. now owns 2,001,643 shares of the Wireless communications provider’s stock valued at $100,601,000 after buying an additional 86,845 shares during the last quarter. Koch Industries Inc. purchased a new stake in Ubiquiti Networks during the first quarter worth approximately $357,000. Legal & General Group Plc boosted its stake in Ubiquiti Networks by 10.5% in the first quarter. Legal & General Group Plc now owns 10,062 shares of the Wireless communications provider’s stock worth $507,000 after buying an additional 958 shares in the last quarter. Laurion Capital Management LP purchased a new stake in Ubiquiti Networks during the first quarter worth approximately $402,000. Finally, Origin Asset Management LLP boosted its stake in Ubiquiti Networks by 3.2% in the first quarter. Origin Asset Management LLP now owns 302,118 shares of the Wireless communications provider’s stock worth $15,184,000 after buying an additional 9,319 shares in the last quarter. Institutional investors own 30.91% of the company’s stock.
Ubiquiti Networks, Inc. (NASDAQ:UBNT) traded up 0.89% on Friday, reaching $65.94. 240,507 shares of the company’s stock traded hands. Ubiquiti Networks, Inc. has a 52-week low of $45.71 and a 52-week high of $67.80. The company’s 50 day moving average is $56.94 and its 200-day moving average is $52.26. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of 21.34 and a beta of 0.48.
Ubiquiti Networks (NASDAQ:UBNT) last announced its quarterly earnings results on Thursday, August 3rd. The Wireless communications provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.06. Ubiquiti Networks had a net margin of 29.76% and a return on equity of 47.10%. The company had revenue of $228.60 million for the quarter, compared to analysts’ expectations of $219.14 million. During the same quarter in the previous year, the business posted $0.69 earnings per share. Ubiquiti Networks’s quarterly revenue was up 23.1% on a year-over-year basis. Equities analysts expect that Ubiquiti Networks, Inc. will post $3.66 EPS for the current year.
A number of brokerages recently weighed in on UBNT. Vetr lowered shares of Ubiquiti Networks from a “buy” rating to a “hold” rating and set a $56.18 target price for the company. in a research note on Monday, July 31st. BidaskClub raised shares of Ubiquiti Networks from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 8th. Deutsche Bank AG increased their price objective on shares of Ubiquiti Networks from $40.00 to $44.00 and gave the stock a “hold” rating in a research note on Monday, August 7th. ValuEngine downgraded shares of Ubiquiti Networks from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, Credit Suisse Group restated a “sell” rating and set a $54.00 price objective on shares of Ubiquiti Networks in a research note on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $54.87.
About Ubiquiti Networks
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.
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