Regal Investment Advisors LLC decreased its position in shares of Ubiquiti Networks, Inc. (NASDAQ:UBNT) by 10.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,821 shares of the Wireless communications provider’s stock after selling 5,286 shares during the period. Regal Investment Advisors LLC owned 0.05% of Ubiquiti Networks worth $2,277,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Ameritas Investment Partners Inc. purchased a new stake in Ubiquiti Networks during the first quarter valued at approximately $113,000. Pacer Advisors Inc. lifted its position in Ubiquiti Networks by 22.2% during the first quarter. Pacer Advisors Inc. now owns 2,700 shares of the Wireless communications provider’s stock valued at $136,000 after acquiring an additional 490 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Ubiquiti Networks during the second quarter valued at approximately $144,000. Lazard Asset Management LLC lifted its position in Ubiquiti Networks by 26.0% during the first quarter. Lazard Asset Management LLC now owns 3,683 shares of the Wireless communications provider’s stock valued at $185,000 after acquiring an additional 760 shares during the last quarter. Finally, Hikari Power Ltd purchased a new stake in Ubiquiti Networks during the second quarter valued at approximately $205,000. 30.88% of the stock is owned by institutional investors.
In other news, insider Robert J. Pera sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $61.25, for a total transaction of $61,250,000.00. Following the completion of the sale, the insider now owns 56,278,181 shares in the company, valued at approximately $3,447,038,586.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 70.34% of the stock is currently owned by insiders.
A number of research firms recently commented on UBNT. Vetr raised shares of Ubiquiti Networks from a “buy” rating to a “strong-buy” rating and set a $65.54 target price for the company in a research report on Wednesday. BidaskClub raised shares of Ubiquiti Networks from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 8th. Deutsche Bank AG upped their price target on shares of Ubiquiti Networks from $40.00 to $44.00 and gave the company a “hold” rating in a research note on Monday, August 7th. Credit Suisse Group restated a “sell” rating and set a $54.00 price target on shares of Ubiquiti Networks in a research note on Friday, August 4th. Finally, ValuEngine lowered shares of Ubiquiti Networks from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $56.31.
Shares of Ubiquiti Networks, Inc. (NASDAQ UBNT) traded down 1.31% on Friday, reaching $57.86. 713,699 shares of the company’s stock were exchanged. The firm has a market capitalization of $4.65 billion, a P/E ratio of 18.72 and a beta of 0.51. Ubiquiti Networks, Inc. has a one year low of $45.71 and a one year high of $67.80. The firm has a 50 day moving average of $60.81 and a 200 day moving average of $52.66.
Ubiquiti Networks (NASDAQ:UBNT) last issued its quarterly earnings data 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. The business had revenue of $228.60 million during the quarter, compared to the consensus estimate of $219.14 million. Ubiquiti Networks had a net margin of 29.76% and a return on equity of 45.87%. The company’s revenue was up 23.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.69 EPS. On average, equities research analysts predict that Ubiquiti Networks, Inc. will post $3.61 EPS for the current year.
Ubiquiti Networks announced that its Board of Directors has authorized a stock repurchase program on Tuesday, September 5th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the Wireless communications provider to buy up to 18% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.
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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