Guest Schwab711 Posted August 26, 2018 Share Posted August 26, 2018 I know the 2nd paragraph I quoted to be true for UBNT as well. It would be pretty funny if half of Silicon Valley is hiding corporate entities to improve their financial results. I think avoiding tariffs has been the key to their success in South America, so maybe the US/China trade war will actually increase margins/sales. Link to comment Share on other sites More sharing options...
Foreign Tuffett Posted September 10, 2018 Share Posted September 10, 2018 Ben Moore, who is effectively the COO of the company, has resigned. https://www.sec.gov/Archives/edgar/data/1511737/000141588918001336/form8k-09072018_010911.htm This leaves Pera and Chief Accounting Officer Kevin Radigan as the company's only executive officers. ??? I've owned oversized long positions in $UBNT twice in the past, but can't come close to underwriting an investment at the current price. Link to comment Share on other sites More sharing options...
gjangal Posted September 11, 2018 Share Posted September 11, 2018 Valuations wise it seems fully valued here. Ben Moore is a large shareholder ( if i m not mistaken it’s about 3-5mn shares). it will be interesting to see what he does. Link to comment Share on other sites More sharing options...
Foreign Tuffett Posted September 11, 2018 Share Posted September 11, 2018 Valuations wise it seems fully valued here. Ben Moore is a large shareholder ( if i m not mistaken it’s about 3-5mn shares). it will be interesting to see what he does. Moore has been selling big chunks of his UBNT shares. Link to comment Share on other sites More sharing options...
gjangal Posted September 11, 2018 Share Posted September 11, 2018 originally he had closer to 1.5mn shares( not 3 as mentioned above ), he is down to 675k now. Has been actively selling in the past year. Link to comment Share on other sites More sharing options...
gjangal Posted November 9, 2018 Share Posted November 9, 2018 https://finance.yahoo.com/news/ubiquiti-fiscal-1q-earnings-snapshot-123130130.html Link to comment Share on other sites More sharing options...
chrispy Posted November 9, 2018 Share Posted November 9, 2018 Very nice to see. Wish I would've keep my small position. Cutting the grass and watering the weeds... Link to comment Share on other sites More sharing options...
gjangal Posted February 8, 2019 Share Posted February 8, 2019 https://www.sec.gov/Archives/edgar/data/1511737/000151173719000007/exhibit991-12312018nex.htm Link to comment Share on other sites More sharing options...
rkbabang Posted February 8, 2019 Share Posted February 8, 2019 https://www.sec.gov/Archives/edgar/data/1511737/000151173719000007/exhibit991-12312018nex.htm Another great quarter. Share buybacks at a good average price ($34.7 million at an average price of $97.31) and keeping dividend the same. Link to comment Share on other sites More sharing options...
chrispy Posted February 9, 2019 Share Posted February 9, 2019 Very impressive results Link to comment Share on other sites More sharing options...
chrispy Posted August 9, 2019 Share Posted August 9, 2019 Switching to NYSE listing, most likely because of the listing requirement. They also announced today 0.5b worth of shares to be repurchased which is about 1/3 of the float not owned by Pera Link to comment Share on other sites More sharing options...
rkbabang Posted November 8, 2019 Share Posted November 8, 2019 Another amazing quarter. Stock way up today. https://www.businesswire.com/news/home/20191108005150/en/Ubiquiti-Reports-Quarter-Fiscal-2020-Financial-Results Revenues of $323.3 million, increasing 14.3% year-over-year GAAP diluted EPS of $1.43, increasing 23.3% year-over-year Non-GAAP diluted EPS of $1.44, increasing 23.1% year-over-year Repurchased 3,635,534 shares of common stock at an average price of $114.49 per share during the quarter and an additional 995,495 shares of common stock at an average price of $120.11 subsequent to September 30, 2019 Link to comment Share on other sites More sharing options...
chrispy Posted November 8, 2019 Share Posted November 8, 2019 Great quarter. Pera does his own thing and it has worked. Long term shareholders have been rewarded. Link to comment Share on other sites More sharing options...
gjangal Posted November 9, 2019 Share Posted November 9, 2019 not a shareholder currently , but hat tip to RJP for executing and pushing ahead with his vision. Buybacks have been timely and minority shareholder friendly. Link to comment Share on other sites More sharing options...
chrispy Posted November 9, 2019 Share Posted November 9, 2019 The shares arent necessarily expensive now although I am not buying here. New line of products released, trading at 30PE with 20 percent growth, small amount of publicly traded shares that will be bought back, shorts will have to cover. Pera is an inventor who makes products people use to build businesses and can keep r&d low. They continue to move up market Link to comment Share on other sites More sharing options...
chrispy Posted August 21, 2020 Share Posted August 21, 2020 http://otp.investis.com/clients/us/ubiquiti_networks_inc/usn/usnews-story.aspx?newsid=70243&cid=2283 "Repurchased 5,842,800 shares of common stock at an average of $119.45 per share" The market value is ~50% greater than the average purchase price paid for ~5% of the company this year. Pera has been remarkably steady and timely with share repurchases. He is close to 80% ownership now. I do wish Pera would provide an annual letter to shareholders Link to comment Share on other sites More sharing options...
rkbabang Posted August 21, 2020 Share Posted August 21, 2020 http://otp.investis.com/clients/us/ubiquiti_networks_inc/usn/usnews-story.aspx?newsid=70243&cid=2283 "Repurchased 5,842,800 shares of common stock at an average of $119.45 per share" The market value is ~50% greater than the average purchase price paid for ~5% of the company this year. Pera has been remarkably steady and timely with share repurchases. He is close to 80% ownership now. I do wish Pera would provide an annual letter to shareholders A letter would be nice, but it is more important that he just keep doing what he's been doing. Actions speak louder than words. How many CEOs make a big deal about share repurchase at the top of the market only to suspend them as soon as the price drops a little bit? Link to comment Share on other sites More sharing options...
chrispy Posted August 21, 2020 Share Posted August 21, 2020 I completely agree and glad he is willing to be unique, shun terrible analysts, and do a terrific job. Just interested in his thoughts on the industry and UI but I guess their product line tells the story Link to comment Share on other sites More sharing options...
chrispy Posted October 15, 2020 Share Posted October 15, 2020 Article on Pera buying properties (nothing more then entertainment here) Grizzlies Owner Robert J. Pera Goes Coast to Coast Buying Trophy Homes https://www.wsj.com/articles/grizzlies-robert-pera-homes-11602783796 Link to comment Share on other sites More sharing options...
rkbabang Posted October 16, 2020 Share Posted October 16, 2020 Article on Pera buying properties (nothing more then entertainment here) Grizzlies Owner Robert J. Pera Goes Coast to Coast Buying Trophy Homes https://www.wsj.com/articles/grizzlies-robert-pera-homes-11602783796 Thanks for the article. Pera is definitely a character. "Mr. Pera's company ultimately filed plans for a residence on the site by Seattle architect Eric Cobb, which called for a 17,000-square-foot, 70-foot-high building made largely of glass and granite. Community Board 1's Landmarks and Preservation Committee initially rejected the proposal late last year, but later approved a modified version, according to Bruce Ehrmann, chair of the committee who had criticized the original design as hostile. "The original proposal was intended to shelter whoever was the purchaser from the neighborhood," Mr. Ehrmann said. "The lower levels looked like the ramparts of a medieval fort."" Link to comment Share on other sites More sharing options...
ValueMaven Posted October 16, 2020 Share Posted October 16, 2020 Amazing multi-bagger. Extremely focused on customers, and owns 90% of the float. Wow. Very few people own this. You'd have to wonder why he still stays public... Link to comment Share on other sites More sharing options...
rkbabang Posted October 16, 2020 Share Posted October 16, 2020 Amazing multi-bagger. Extremely focused on customers, and owns 90% of the float. Wow. Very few people own this. You'd have to wonder why he still stays public... I don't know why he stays public. There are few owners and fewer all the time the way they keep buying back shares. It was trading at $150-$160 a few weeks ago and if the past is any indication I'd bet they bought back some shares under $160. Link to comment Share on other sites More sharing options...
chrispy Posted October 17, 2020 Share Posted October 17, 2020 It appeared like the main benefit of switching to NYSE was the ability to buy back even more shares. Who knows what happens when he nears the NYSE's limit on outstanding shares Link to comment Share on other sites More sharing options...
rkbabang Posted October 17, 2020 Share Posted October 17, 2020 If I'm reading the requirements correctly, the NYSE requires $100M in publicly held shares, so for a $12+B company that is less that 1% that needs to be publicly held. It also requires a minimum number of publicly held shares, but he could split the stock if he needed to in order to keep buying back. So he can stay listed until he owns about 99%, more if the marketcap increases. Link to comment Share on other sites More sharing options...
chrispy Posted October 17, 2020 Share Posted October 17, 2020 Ah well I guess that answers it. I obviously had not looked Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now