Ubiquiti (UBNT) -5.9% AH after filing to sell 7.7M shares on behalf of existing shareholders...

|About: Ubiquiti Networks, Inc. (UBNT)|By:, SA News Editor

Ubiquiti (UBNT) -5.9% AH after filing to sell 7.7M shares on behalf of existing shareholders through a public offering. CEO/NBA owner Robert Pera will be selling 1.7M shares, lowering his stake to 64.4% from 66.4%. Investment firm Summit Partners will be selling 6M, lowering its stake to 10.5% from 17.3%. The filing comes shortly after Ubiquiti closed near its 52-week high, and a week after shares took off in response to a Q1 beat and strong guidance. (S-1)