BlackRock Investment Management LLC increased its stake in Ubiquiti Networks Inc. (NASDAQ:UBNT) by 0.0% during the third quarter, Holdings Channel reports. The fund owned 96,990 shares of the company’s stock after buying an additional 8 shares during the period. BlackRock Investment Management LLC owned approximately 0.12% of Ubiquiti Networks worth $5,189,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of UBNT. PNC Financial Services Group Inc. boosted its position in shares of Ubiquiti Networks by 234.1% in the third quarter. PNC Financial Services Group Inc. now owns 1,958 shares of the company’s stock valued at $105,000 after buying an additional 1,372 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Ubiquiti Networks by 110.0% in the third quarter. BNP Paribas Arbitrage SA now owns 2,115 shares of the company’s stock valued at $113,000 after buying an additional 1,108 shares during the last quarter. Orinda Asset Management LLC bought a new position in shares of Ubiquiti Networks during the third quarter valued at approximately $134,000. Daiwa Securities Group Inc. bought a new position in shares of Ubiquiti Networks during the third quarter valued at approximately $150,000. Finally, Teacher Retirement System of Texas boosted its position in shares of Ubiquiti Networks by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 4,140 shares of the company’s stock valued at $160,000 after buying an additional 501 shares during the last quarter. 29.39% of the stock is currently owned by institutional investors and hedge funds.
Shares of Ubiquiti Networks Inc. (NASDAQ:UBNT) opened at 58.55 on Friday. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of 21.38 and a beta of 1.30. Ubiquiti Networks Inc. has a 1-year low of $27.52 and a 1-year high of $60.30. The company’s 50-day moving average is $57.64 and its 200 day moving average is $52.00.
Ubiquiti Networks (NASDAQ:UBNT) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.10. Ubiquiti Networks had a net margin of 32.19% and a return on equity of 50.98%. The firm earned $204.80 million during the quarter, compared to analyst estimates of $183.58 million. During the same quarter last year, the business earned $0.51 EPS. The company’s revenue was up 35.3% compared to the same quarter last year. On average, equities research analysts expect that Ubiquiti Networks Inc. will post $3.09 EPS for the current fiscal year.
UBNT has been the topic of several research analyst reports. Wunderlich increased their price target on shares of Ubiquiti Networks from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday, November 4th. Zacks Investment Research cut shares of Ubiquiti Networks from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 6th. Finally, JMP Securities raised shares of Ubiquiti Networks from an “underperform” rating to a “market perform” rating in a research report on Friday, October 21st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $42.00.
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.
Want to see what other hedge funds are holding UBNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ubiquiti Networks Inc. (NASDAQ:UBNT).