TRUE Private Wealth Advisors decreased its position in Arista Networks Inc (NYSE:ANET) by 21.8% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,242 shares of the technology company’s stock after selling 346 shares during the period. TRUE Private Wealth Advisors’ holdings in Arista Networks were worth $330,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Oakbrook Investments LLC raised its stake in shares of Arista Networks by 242.2% during the 3rd quarter. Oakbrook Investments LLC now owns 5,510 shares of the technology company’s stock worth $1,465,000 after purchasing an additional 3,900 shares in the last quarter. Foundry Partners LLC bought a new stake in shares of Arista Networks during the 3rd quarter worth approximately $200,000. MERIAN GLOBAL INVESTORS UK Ltd bought a new stake in shares of Arista Networks during the 3rd quarter worth approximately $1,010,000. First American Bank bought a new stake in shares of Arista Networks during the 3rd quarter worth approximately $272,000. Finally, Louisiana State Employees Retirement System bought a new stake in shares of Arista Networks during the 3rd quarter worth approximately $798,000. Hedge funds and other institutional investors own 54.66% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. Morgan Stanley cut Arista Networks from an “overweight” rating to an “equal weight” rating and set a $310.00 price objective on the stock. in a research note on Tuesday, September 4th. UBS Group began coverage on Arista Networks in a research note on Wednesday, September 26th. They issued a “neutral” rating and a $290.00 price target on the stock. Loop Capital increased their price target on Arista Networks to $260.00 and gave the company a “hold” rating in a research note on Friday, August 3rd. They noted that the move was a valuation call. DA Davidson increased their price target on Arista Networks from $300.00 to $312.00 and gave the company a “buy” rating in a research note on Friday, August 3rd. Finally, William Blair restated an “outperform” rating on shares of Arista Networks in a research note on Monday, September 17th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $287.73.
In other Arista Networks news, CEO Jayshree Ullal sold 64,750 shares of the company’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $305.94, for a total value of $19,809,615.00. Following the transaction, the chief executive officer now directly owns 14,704 shares of the company’s stock, valued at approximately $4,498,541.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Andreas Bechtolsheim sold 31,917 shares of the company’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $303.00, for a total value of $9,670,851.00. Following the completion of the transaction, the insider now directly owns 4,144 shares in the company, valued at $1,255,632. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 216,737 shares of company stock worth $64,326,230. Insiders own 24.95% of the company’s stock.
Shares of NYSE ANET opened at $233.09 on Friday. The company has a current ratio of 3.17, a quick ratio of 2.87 and a debt-to-equity ratio of 0.02. Arista Networks Inc has a one year low of $177.92 and a one year high of $313.37. The firm has a market capitalization of $17.88 billion, a price-to-earnings ratio of 50.13, a PEG ratio of 1.75 and a beta of 1.47.
Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, August 2nd. The technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.43. Arista Networks had a return on equity of 28.51% and a net margin of 28.07%. The firm had revenue of $519.85 million for the quarter, compared to analyst estimates of $509.62 million. During the same period in the prior year, the firm posted $1.34 EPS. The company’s revenue for the quarter was up 28.3% on a year-over-year basis. Equities analysts forecast that Arista Networks Inc will post 6.43 earnings per share for the current fiscal year.
About Arista Networks
Arista Networks, Inc provides cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of its extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.
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