Prudential Financial Inc. Acquires 3,600 Shares of Ubiquiti Networks Inc (NASDAQ:UBNT)

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Prudential Financial Inc. increased its holdings in shares of Ubiquiti Networks Inc (NASDAQ:UBNT) by 89.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,622 shares of the Wireless communications provider’s stock after buying an additional 3,600 shares during the period. Prudential Financial Inc.’s holdings in Ubiquiti Networks were worth $1,002,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. First Trust Advisors LP raised its stake in shares of Ubiquiti Networks by 3.6% during the first quarter. First Trust Advisors LP now owns 334,984 shares of the Wireless communications provider’s stock worth $50,150,000 after buying an additional 11,615 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Ubiquiti Networks by 7,992.1% during the second quarter. JPMorgan Chase & Co. now owns 163,380 shares of the Wireless communications provider’s stock worth $21,439,000 after buying an additional 161,361 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Ubiquiti Networks by 10.0% during the second quarter. Wells Fargo & Company MN now owns 72,351 shares of the Wireless communications provider’s stock worth $9,515,000 after buying an additional 6,571 shares during the last quarter. FMR LLC increased its stake in Ubiquiti Networks by 34.7% in the first quarter. FMR LLC now owns 71,225 shares of the Wireless communications provider’s stock valued at $10,663,000 after purchasing an additional 18,361 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Ubiquiti Networks by 344.0% in the first quarter. Envestnet Asset Management Inc. now owns 51,802 shares of the Wireless communications provider’s stock valued at $7,755,000 after purchasing an additional 40,134 shares in the last quarter. 19.58% of the stock is owned by institutional investors and hedge funds.

NASDAQ:UBNT remained flat at $$110.59 during trading hours on Friday. 618,700 shares of the company’s stock traded hands, compared to its average volume of 380,066. Ubiquiti Networks Inc has a 1 year low of $81.26 and a 1 year high of $174.95. The company has a debt-to-equity ratio of 2.33, a quick ratio of 3.40 and a current ratio of 5.03. The stock has a market cap of $7.81 billion, a P/E ratio of 23.33, a price-to-earnings-growth ratio of 2.23 and a beta of 1.28. The firm has a 50 day moving average price of $112.74 and a 200 day moving average price of $134.60.

Ubiquiti Networks (NASDAQ:UBNT) last issued its earnings results on Friday, August 9th. The Wireless communications provider reported $1.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.03. Ubiquiti Networks had a net margin of 27.78% and a return on equity of 180.91%. The firm had revenue of $286.64 million during the quarter, compared to the consensus estimate of $303.58 million. During the same quarter in the prior year, the firm earned $1.01 earnings per share. The business’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, sell-side analysts expect that Ubiquiti Networks Inc will post 5.52 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 19th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.09%. The ex-dividend date was Friday, August 16th. Ubiquiti Networks’s dividend payout ratio is 25.32%.

UBNT has been the subject of several recent analyst reports. Barclays reaffirmed a “sell” rating and issued a $100.00 target price on shares of Ubiquiti Networks in a research note on Monday, August 12th. BidaskClub downgraded shares of Ubiquiti Networks from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 20th. ValuEngine downgraded shares of Ubiquiti Networks from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Zacks Investment Research raised shares of Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $116.00 target price for the company in a research note on Monday, August 19th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. Ubiquiti Networks currently has a consensus rating of “Hold” and a consensus target price of $96.00.

Ubiquiti Networks Profile

Ubiquiti Networks, Inc develops networking technology for service providers, enterprises, and consumers. It focuses on three principal technologies, including high-capacity distributed Internet access, unified information technology, and consumer electronics for home and personal use. The company's service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, and other WLAN products, as well as offers consumer products under the Ubiquiti Labs brand name.

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

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