Trimtabs Asset Management Lowers stake in Ubiquiti Networks Inc (UBNT)

Ubiquiti Networks Inc (UBNT) : Trimtabs Asset Management reduced its stake in Ubiquiti Networks Inc by 10.4% during the most recent quarter end. The investment management company now holds a total of 44,230 shares of Ubiquiti Networks Inc which is valued at $1,970,447 after selling 5,135 shares in Ubiquiti Networks Inc , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Ubiquiti Networks Inc makes up approximately 1.23% of Trimtabs Asset Management’s portfolio.

Other Hedge Funds, Including , Old Mutual Global Investors (uk) Ltd. boosted its stake in UBNT in the latest quarter, The investment management firm added 64,612 additional shares and now holds a total of 102,094 shares of Ubiquiti Networks Inc which is valued at $4,300,199. Ubiquiti Networks Inc makes up approx 0.08% of Old Mutual Global Investors (uk) Ltd.’s portfolio. Meritage Portfolio Management added UBNT to its portfolio by purchasing 106,778 company shares during the most recent quarter which is valued at $4,497,489. Ubiquiti Networks Inc makes up approx 0.49% of Meritage Portfolio Management’s portfolio.Cutler Group Lp boosted its stake in UBNT in the latest quarter, The investment management firm added 1,679 additional shares and now holds a total of 2,439 shares of Ubiquiti Networks Inc which is valued at $97,340. Ubiquiti Networks Inc makes up approx 0.01% of Cutler Group Lp’s portfolio.

Ubiquiti Networks Inc opened for trading at $44.38 and hit $45.74 on the upside on Thursday, eventually ending the session at $45.06, with a gain of 1.14% or 0.51 points. The heightened volatility saw the trading volume jump to 8,15,310 shares. Company has a market cap of $3,736 M.

On the company’s financial health, Ubiquiti Networks Inc reported $0.69 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.64. The company had revenue of $185.70 million for the quarter, compared to analysts expectations of $174.47 million. The company’s revenue was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS.

Many Wall Street Analysts have commented on Ubiquiti Networks Inc. Company shares were Upgraded by BMO Capital Markets on May 6, 2016 to ” Market Perform”, Firm has raised the Price Target to $ 37 from a previous price target of $30 .Company shares were Reiterated by Wunderlich on May 6, 2016 to “Buy”, Firm has raised the Price Target to $ 43 from a previous price target of $40 .

Ubiquiti Networks Inc. develops high performance networking technology for service providers and enterprises. The Company’s technology platforms for service providers enable carrier-class network infrastructure for fixed wireless broadband wireless backhaul systems and routing. The Company’s technology platforms for enterprises enable wireless local area network (WLAN) infrastructure video surveillance products and machine-to-machine communications. The Company offers products and solutions based on its proprietary technology with disruptive price-performance characteristics across multiple markets.

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