Morgan Stanley Sells 36,844 Shares of Ubiquiti Networks, Inc. (UBNT)

Morgan Stanley decreased its stake in Ubiquiti Networks, Inc. (NASDAQ:UBNT) by 26.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 100,055 shares of the Wireless communications provider’s stock after selling 36,844 shares during the period. Morgan Stanley owned approximately 0.12% of Ubiquiti Networks worth $5,028,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. acquired a new stake in Ubiquiti Networks during the first quarter worth approximately $113,000. Pacer Advisors Inc. increased its stake in Ubiquiti Networks by 22.2% in the first quarter. Pacer Advisors Inc. now owns 2,700 shares of the Wireless communications provider’s stock worth $136,000 after buying an additional 490 shares during the last quarter. Lazard Asset Management LLC boosted its stake in Ubiquiti Networks by 26.0% in the first quarter. Lazard Asset Management LLC now owns 3,683 shares of the Wireless communications provider’s stock valued at $185,000 after buying an additional 760 shares during the period. Principal Financial Group Inc. boosted its stake in Ubiquiti Networks by 3.8% in the first quarter. Principal Financial Group Inc. now owns 6,069 shares of the Wireless communications provider’s stock valued at $305,000 after buying an additional 223 shares during the period. Finally, Koch Industries Inc. purchased a new stake in Ubiquiti Networks during the first quarter valued at $357,000. Hedge funds and other institutional investors own 30.91% of the company’s stock.

Shares of Ubiquiti Networks, Inc. (NASDAQ UBNT) traded up 0.89% on Friday, reaching $65.94. 240,507 shares of the company’s stock traded hands. The company has a 50 day moving average of $56.94 and a 200-day moving average of $52.26. The stock has a market capitalization of $5.29 billion, a PE ratio of 21.34 and a beta of 0.48. Ubiquiti Networks, Inc. has a 52 week low of $45.71 and a 52 week high of $67.80.

Ubiquiti Networks (NASDAQ:UBNT) last announced its quarterly earnings data on Thursday, August 3rd. The Wireless communications provider reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.06. The firm had revenue of $228.60 million during the quarter, compared to analysts’ expectations of $219.14 million. Ubiquiti Networks had a return on equity of 47.10% and a net margin of 29.76%. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.69 EPS. Equities research analysts forecast that Ubiquiti Networks, Inc. will post $3.66 earnings per share for the current year.

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Several research firms have recently weighed in on UBNT. Credit Suisse Group reissued a “sell” rating and issued a $54.00 price target on shares of Ubiquiti Networks in a research note on Friday, August 4th. Deutsche Bank AG raised their price target on shares of Ubiquiti Networks from $40.00 to $44.00 and gave the company a “hold” rating in a research report on Monday, August 7th. BidaskClub raised 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 lowered shares of Ubiquiti Networks from a “buy” rating to a “hold” rating and set a $56.18 price objective on the stock. in a report on Monday, July 31st. One analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $54.87.

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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