Norges Bank Investment Management recently announced the acquisition of new stake in Ubiquiti Inc. (NYSE:UI). The institutional investor has increased its shareholding in the Technology company by 19.19% to 59971.0 shares with purchase of 9655.0 shares. This fresh investment now brings its stake to 0.10% valued currently at $16.4 million.
With over 74868.0 Ubiquiti Inc. (UI) shares trading Tuesday and a closing price of $284.30 on the day, the dollar volume was approximately $21.28 million. The shares have shown a positive half year performance of 4.56% and its price on 01/24/23 lost nearly -2.28%. Currently, there are 60.43M common shares owned by the public and among those 4.14M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for UI have a consensus price objective of $298.00. The analysts have set the share’s price value over the next 12 months at a high of $375.00 and a low of $221.00. The average price target is 4.81% above its recent price level and a downside to the estimated low will see the stock lose -28.64% over that period. But an upside of 24.19% will see the stock hit the forecast high price target while median target price for the stock is $298.00.
Insiders at the company have transacted a total of 14 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 7 of these insider trades were purchases, accounting for 7,759 shares. Insider sales of the common stock occurred on 7 occasions, with total insider shares sold totaling 7,003 shares.
The top 3 mutual fund holders in Ubiquiti Inc. are Government Pension Fund – Global, Vanguard Extended Market Index Fu, and iShares IV Plc – Digital Security. Government Pension Fund – Global owns 57632.0 shares of the company’s stock, all valued at over $15.76 million. The company sold 36994.0 shares recently to bring their total holdings to about 0.10% of the shares outstanding. Vanguard Extended Market Index Fu bought 330.0 shares to see its total holdings expand to 56328.0 shares valued at over $15.41 million and representing 0.09% of the shares outstanding. iShares IV Plc – Digital Security now owns shares totaling to 0.08% of the shares outstanding.
Shares of Ubiquiti Inc. (NYSE: UI) opened at $285.25, down -$5.69 from a prior closing price of $290.94. However, the script later moved the day high at 289.80, down -2.28%. The company’s stock has a 5-day price change of -2.26% and -11.71% over the past three months. UI shares are trading 3.94% year to date (YTD), with the 12-month market performance up to 0.51% higher. It has a 12-month low price of $218.15 and touched a high of $350.63 over the same period. UI has an average intraday trading volume of 70.65K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.97%, 0.04%, and -0.59% respectively.
Institutional ownership of Ubiquiti Inc. (NYSE: UI) shares accounts for 3.90% of the company’s 60.43M shares outstanding. Mutual fund holders own 1.26%, while other institutional holders and individual stakeholders account for 2.55% and 0.00% respectively.
It has a market capitalization of $16.74B and a beta (3y monthly) value of 1.30. The stock’s trailing 12-month PE ratio is 51.21, while the earnings-per-share (ttm) stands at $5.55. The company has a PEG of 2.14 and a Quick Ratio of 1.00. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.75% over the week and 2.85% over the month.
Analysts forecast that Ubiquiti Inc. (UI) will achieve an EPS of $2.07 for the current quarter, $2.16 for the next quarter and $9.45 for 2024. The lowest estimate earnings-per-share for the quarter is $2.07 while analysts give the company a high EPS estimate of $2.07. Comparatively, EPS for the current quarter was $1.66 a year ago. Earnings per share for the fiscal year are expected to decrease by -37.30%, and 30.79% over the next financial year. EPS should grow at an annualized rate of 23.90% over the next five years, compared to 14.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate Ubiquiti Inc. (UI) as a “Hold” at a consensus score of 3.20. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 3 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the UI, a number of firms have released research notes about the stock. BWS Financial stated their Buy rating for the stock in a research note on February 08, 2021, with the firm’s price target at $290-$370. Credit Suisse coverage for the Ubiquiti Inc. (UI) stock in a research note released on January 15, 2020 offered a Underperform rating with a price target of $134. BWS Financial was of a view on November 11, 2019 that the stock is Buy, while BWS Financial gave the stock Buy rating on October 09, 2019, issuing a price target of $150.
