Harvest Fund Management Co. Ltd Sells 1,557 Shares of Ubiquiti Networks Inc (NASDAQ:UBNT)

Harvest Fund Management Co. Ltd lessened its holdings in shares of Ubiquiti Networks Inc (NASDAQ:UBNT) by 80.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 369 shares of the Wireless communications provider’s stock after selling 1,557 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Ubiquiti Networks were worth $49,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Advisors Preferred LLC bought a new position in shares of Ubiquiti Networks during the second quarter valued at approximately $30,000. Resources Investment Advisors LLC. bought a new position in Ubiquiti Networks in the second quarter worth $46,000. Flagship Harbor Advisors LLC raised its holdings in Ubiquiti Networks by 31.3% in the second quarter. Flagship Harbor Advisors LLC now owns 394 shares of the Wireless communications provider’s stock worth $51,000 after purchasing an additional 94 shares in the last quarter. Pearl River Capital LLC bought a new position in Ubiquiti Networks in the second quarter worth $56,000. Finally, Advisory Services Network LLC bought a new position in Ubiquiti Networks in the first quarter worth $92,000. Institutional investors own 19.58% of the company’s stock.

UBNT remained flat at $$110.59 during trading on Tuesday. The stock’s fifty day moving average is $110.88 and its 200-day moving average is $133.03. The company has a debt-to-equity ratio of 2.33, a current ratio of 5.03 and a quick ratio of 3.40. The firm has a market cap of $7.81 billion, a price-to-earnings ratio of 23.33, a P/E/G ratio of 2.23 and a beta of 1.28. Ubiquiti Networks Inc has a twelve month low of $81.26 and a twelve month high of $174.95.

Ubiquiti Networks (NASDAQ:UBNT) last posted its quarterly earnings data on Friday, August 9th. The Wireless communications provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.03. Ubiquiti Networks had a return on equity of 180.91% and a net margin of 27.78%. The business 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 company earned $1.01 earnings per share. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. Research analysts predict that Ubiquiti Networks Inc will post 5.52 earnings per share for the current fiscal year.

A number of equities analysts have issued reports on the company. BidaskClub downgraded Ubiquiti Networks from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 20th. ValuEngine downgraded Ubiquiti Networks from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Barclays reiterated a “sell” rating and issued a $100.00 price objective on shares of Ubiquiti Networks in a report on Monday, August 12th. Finally, Zacks Investment Research upgraded Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $116.00 price objective for the company in a report on Monday, August 19th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target 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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