Wealth Enhancement Advisory Services LLC grew its stake in Ubiquiti Inc. (NYSE:UI - Free Report) by 1,396.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,235 shares of the company's stock after buying an additional 24,482 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Ubiquiti were worth $8,136,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. Renaissance Technologies LLC grew its position 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 purchasing an additional 2,400 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Ubiquiti by 926.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 113,305 shares of the company's stock worth $37,609,000 after buying an additional 102,268 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Ubiquiti by 100.1% during 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. Vanguard Group Inc. grew its holdings in shares of Ubiquiti by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 94,505 shares of the company's stock valued at $31,369,000 after acquiring an additional 2,294 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Ubiquiti by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 63,840 shares of the company's stock valued at $21,197,000 after acquiring an additional 765 shares in the last quarter. Institutional investors own 4.00% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on the stock. Barclays boosted their target price on shares of Ubiquiti from $222.00 to $247.00 and gave the stock an "underweight" rating in a report on Monday, May 12th. BWS Financial reissued a "buy" rating and issued a $440.00 price objective on shares of Ubiquiti in a research report on Monday, May 12th.
Read Our Latest Stock Analysis on Ubiquiti
Ubiquiti Stock Performance
NYSE:UI traded up $7.31 during mid-day trading on Friday, hitting $403.21. 195,453 shares of the stock were exchanged, compared to its average volume of 85,728. The firm's 50-day simple moving average is $380.46 and its 200 day simple moving average is $356.03. The stock has a market capitalization of $24.39 billion, a price-to-earnings ratio of 44.41 and a beta of 1.35. Ubiquiti Inc. has a fifty-two week low of $145.35 and a fifty-two week high of $469.98.
Ubiquiti Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Monday, May 19th were given a dividend of $0.60 per share. The ex-dividend date was Monday, May 19th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.60%. Ubiquiti's dividend payout ratio (DPR) is 26.43%.
Ubiquiti Company Profile
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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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