Alliancebernstein L.P. Boosts Holdings in Ubiquiti Networks, Inc. (UBNT)

Alliancebernstein L.P. raised its stake in Ubiquiti Networks, Inc. (NASDAQ:UBNT) by 15.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 45,550 shares of the Wireless communications provider’s stock after buying an additional 6,000 shares during the period. Alliancebernstein L.P. owned approximately 0.06% of Ubiquiti Networks worth $2,367,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of UBNT. Ameritas Investment Partners Inc. bought a new position in shares of Ubiquiti Networks in the first quarter valued at $113,000. Pacer Advisors Inc. grew its position in Ubiquiti Networks by 22.2% during the 1st quarter. Pacer Advisors Inc. now owns 2,700 shares of the Wireless communications provider’s stock worth $136,000 after purchasing an additional 490 shares in the last quarter. SG Americas Securities LLC purchased a new position in Ubiquiti Networks during the 2nd quarter worth approximately $144,000. Lazard Asset Management LLC grew its position in Ubiquiti Networks by 26.0% during the 1st quarter. Lazard Asset Management LLC now owns 3,683 shares of the Wireless communications provider’s stock worth $185,000 after purchasing an additional 760 shares in the last quarter. Finally, Hikari Power Ltd purchased a new position in Ubiquiti Networks during the 2nd quarter worth approximately $205,000. 30.85% of the stock is currently owned by institutional investors.

Several equities analysts have weighed in on the stock. Deutsche Bank AG lifted their price objective on shares of Ubiquiti Networks from $40.00 to $44.00 and gave the stock a “hold” rating in a research report on Monday, August 7th. Credit Suisse Group reiterated a “sell” rating and set a $54.00 price objective on shares of Ubiquiti Networks in a research report on Friday, August 4th. BidaskClub upgraded shares of Ubiquiti Networks from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 8th. ValuEngine cut shares of Ubiquiti Networks from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, Vetr upgraded shares of Ubiquiti Networks from a “buy” rating to a “strong-buy” rating and set a $69.54 price objective on the stock in a research report on Tuesday, August 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $58.06.

In related news, insider Robert J. Pera sold 1,000,000 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 56,278,181 shares in the company, valued at $3,447,038,586.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 70.34% of the company’s stock.

Ubiquiti Networks, Inc. (UBNT) opened at 60.32 on Friday. Ubiquiti Networks, Inc. has a 52-week low of $45.71 and a 52-week high of $67.80. The stock has a market capitalization of $4.85 billion, a PE ratio of 19.52 and a beta of 0.51. The firm’s 50-day moving average is $56.74 and its 200 day moving average is $53.72.

Ubiquiti Networks (NASDAQ:UBNT) last issued its quarterly earnings data on Thursday, August 3rd. The Wireless communications provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. Ubiquiti Networks had a net margin of 29.76% and a return on equity of 45.87%. The business had revenue of $228.60 million for the quarter, compared to analyst estimates of $219.14 million. During the same period last year, the business posted $0.69 earnings per share. The firm’s quarterly revenue was up 23.1% on a year-over-year basis. On average, equities analysts forecast that Ubiquiti Networks, Inc. will post $3.68 earnings per share for the current year.

Ubiquiti Networks announced that its Board of Directors has approved a share repurchase program on Tuesday, September 5th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the Wireless communications provider to purchase up to 18% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

WARNING: “Alliancebernstein L.P. Boosts Holdings in Ubiquiti Networks, Inc. (UBNT)” was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece on another domain, it was stolen and reposted in violation of United States & international copyright & trademark laws. The or

Several other hedge funds and other institutional investors also recently bought and sold shares of UBNT. Ameritas Investment Partners Inc. bought a new position in shares of Ubiquiti Networks in the first quarter valued at $113,000. Pacer Advisors Inc. grew its position in Ubiquiti Networks by 22.2% during the 1st quarter. Pacer Advisors Inc. now owns 2,700 shares of the Wireless communications provider’s stock worth $136,000 after purchasing an additional 490 shares in the last quarter. SG Americas Securities LLC purchased a new position in Ubiquiti Networks during the 2nd quarter worth approximately $144,000. Lazard Asset Management LLC grew its position in Ubiquiti Networks by 26.0% during the 1st quarter. Lazard Asset Management LLC now owns 3,683 shares of the Wireless communications provider’s stock worth $185,000 after purchasing an additional 760 shares in the last quarter. Finally, Hikari Power Ltd purchased a new position in Ubiquiti Networks during the 2nd quarter worth approximately $205,000. 30.85% of the stock is currently owned by institutional investors.

Several equities analysts have weighed in on the stock. Deutsche Bank AG lifted their price objective on shares of Ubiquiti Networks from $40.00 to $44.00 and gave the stock a “hold” rating in a research report on Monday, August 7th. Credit Suisse Group reiterated a “sell” rating and set a $54.00 price objective on shares of Ubiquiti Networks in a research report on Friday, August 4th. BidaskClub upgraded shares of Ubiquiti Networks from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 8th. ValuEngine cut shares of Ubiquiti Networks from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, Vetr upgraded shares of Ubiquiti Networks from a “buy” rating to a “strong-buy” rating and set a $69.54 price objective on the stock in a research report on Tuesday, August 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $58.06.

In related news, insider Robert J. Pera sold 1,000,000 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 56,278,181 shares in the company, valued at $3,447,038,586.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 70.34% of the company’s stock.

Ubiquiti Networks, Inc. (UBNT) opened at 60.32 on Friday. Ubiquiti Networks, Inc. has a 52-week low of $45.71 and a 52-week high of $67.80. The stock has a market capitalization of $4.85 billion, a PE ratio of 19.52 and a beta of 0.51. The firm’s 50-day moving average is $56.74 and its 200 day moving average is $53.72.

Ubiquiti Networks (NASDAQ:UBNT) last issued its quarterly earnings data on Thursday, August 3rd. The Wireless communications provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. Ubiquiti Networks had a net margin of 29.76% and a return on equity of 45.87%. The business had revenue of $228.60 million for the quarter, compared to analyst estimates of $219.14 million. During the same period last year, the business posted $0.69 earnings per share. The firm’s quarterly revenue was up 23.1% on a year-over-year basis. On average, equities analysts forecast that Ubiquiti Networks, Inc. will post $3.68 earnings per share for the current year.

Ubiquiti Networks announced that its Board of Directors has approved a share repurchase program on Tuesday, September 5th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the Wireless communications provider to purchase up to 18% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

WARNING: “Alliancebernstein L.P. Boosts Holdings in Ubiquiti Networks, Inc. (UBNT)” was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece on another domain, it was stolen and reposted in violation of United States & international copyright & trademark laws. The original version of this piece can be accessed at https://ledgergazette.com/2017/10/15/alliancebernstein-l-p-boosts-holdings-in-ubiquiti-networks-inc-ubnt.html.

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.

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

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