Lagoda Investment Management L.P. Sells 14,817 Shares of Ubiquiti Networks, Inc. (UBNT)

Lagoda Investment Management L.P. reduced its stake in shares of Ubiquiti Networks, Inc. (NASDAQ:UBNT) by 3.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 441,077 shares of the Wireless communications provider’s stock after selling 14,817 shares during the quarter. Ubiquiti Networks accounts for approximately 8.9% of Lagoda Investment Management L.P.’s holdings, making the stock its 3rd biggest position. Lagoda Investment Management L.P. owned 0.57% of Ubiquiti Networks worth $24,709,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the stock. Alps Advisors Inc. raised its stake in Ubiquiti Networks by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 9,389 shares of the Wireless communications provider’s stock valued at $488,000 after purchasing an additional 24 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Ubiquiti Networks by 4.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,958 shares of the Wireless communications provider’s stock valued at $102,000 after purchasing an additional 80 shares during the last quarter. Renaissance Group LLC raised its stake in Ubiquiti Networks by 2.1% during the 2nd quarter. Renaissance Group LLC now owns 6,612 shares of the Wireless communications provider’s stock valued at $344,000 after purchasing an additional 136 shares during the last quarter. Pacer Advisors Inc. raised its stake in Ubiquiti Networks by 11.8% during the 2nd quarter. Pacer Advisors Inc. now owns 3,019 shares of the Wireless communications provider’s stock valued at $157,000 after purchasing an additional 319 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in Ubiquiti Networks by 6.1% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 15,894 shares of the Wireless communications provider’s stock valued at $826,000 after purchasing an additional 916 shares during the last quarter. Hedge funds and other institutional investors own 33.83% of the company’s stock.

Several equities analysts recently commented on UBNT shares. Vetr cut shares of Ubiquiti Networks from a “strong-buy” rating to a “buy” rating and set a $65.54 target price for the company. in a research note on Wednesday, August 30th. ValuEngine upgraded shares of Ubiquiti Networks from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. Zacks Investment Research upgraded shares of Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Thursday, October 5th. BidaskClub cut shares of Ubiquiti Networks from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 2nd. Finally, JMP Securities reiterated a “market perform” rating on shares of Ubiquiti Networks in a research note on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Ubiquiti Networks presently has an average rating of “Hold” and an average target price of $56.86.

Ubiquiti Networks, Inc. (UBNT) opened at $67.23 on Friday. Ubiquiti Networks, Inc. has a one year low of $45.71 and a one year high of $68.14. The stock has a market cap of $5,177.28, a price-to-earnings ratio of 21.18, a PEG ratio of 1.04 and a beta of 0.51.

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

Ubiquiti Networks declared that its Board of Directors has initiated a share repurchase plan on Tuesday, September 5th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the Wireless communications provider to reacquire up to 18% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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Ubiquiti Networks 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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