Sentry Investment Management LLC Invests $832,000 in Arista Networks Inc (ANET) Stock

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Sentry Investment Management LLC acquired a new position in Arista Networks Inc (NYSE:ANET) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,128 shares of the technology company’s stock, valued at approximately $832,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. HRT Financial LLC bought a new stake in shares of Arista Networks during the 2nd quarter worth $252,000. NorthCoast Asset Management LLC lifted its holdings in shares of Arista Networks by 377.6% during the 2nd quarter. NorthCoast Asset Management LLC now owns 73,853 shares of the technology company’s stock worth $19,016,000 after acquiring an additional 58,389 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Arista Networks by 1.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 35,479 shares of the technology company’s stock worth $9,135,000 after acquiring an additional 484 shares during the last quarter. Stanley Laman Group Ltd. lifted its holdings in shares of Arista Networks by 1.5% during the 2nd quarter. Stanley Laman Group Ltd. now owns 22,688 shares of the technology company’s stock worth $5,842,000 after acquiring an additional 330 shares during the last quarter. Finally, Schroder Investment Management Group bought a new stake in shares of Arista Networks during the 2nd quarter worth $1,396,000. 54.32% of the stock is owned by institutional investors.

In other Arista Networks news, SVP Kenneth Duda sold 11,000 shares of the business’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $267.49, for a total value of $2,942,390.00. Following the transaction, the senior vice president now owns 2,664 shares in the company, valued at $712,593.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nikos Theodosopoulos sold 110 shares of the business’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $273.27, for a total transaction of $30,059.70. Following the completion of the transaction, the director now owns 2,073 shares in the company, valued at approximately $566,488.71. The disclosure for this sale can be found here. Insiders sold 203,820 shares of company stock worth $60,871,675 in the last 90 days. Corporate insiders own 24.95% of the company’s stock.

ANET has been the subject of a number of research analyst reports. Credit Suisse Group set a $311.00 price objective on shares of Arista Networks and gave the stock a “buy” rating in a report on Thursday, October 4th. Goldman Sachs Group downgraded shares of Arista Networks from a “conviction-buy” rating to a “buy” rating in a report on Thursday, October 4th. KeyCorp reaffirmed a “buy” rating and set a $310.00 price objective on shares of Arista Networks in a report on Friday, August 3rd. DA Davidson lifted their price objective on shares of Arista Networks from $300.00 to $312.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Finally, Argus lifted their price objective on shares of Arista Networks to $320.00 and gave the stock a “buy” rating in a report on Monday, August 6th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Arista Networks has a consensus rating of “Buy” and an average target price of $291.83.

Shares of NYSE:ANET opened at $244.43 on Friday. Arista Networks Inc has a 52 week low of $206.86 and a 52 week high of $313.37. The firm has a market capitalization of $19.12 billion, a P/E ratio of 52.57, a price-to-earnings-growth ratio of 1.76 and a beta of 1.56. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.11 and a current ratio of 4.51.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, November 1st. The technology company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.21. Arista Networks had a net margin of 28.05% and a return on equity of 29.06%. The firm had revenue of $563.31 million for the quarter, compared to analysts’ expectations of $548.81 million. During the same quarter in the previous year, the company earned $1.62 earnings per share. The company’s revenue for the quarter was up 28.7% compared to the same quarter last year. As a group, equities analysts forecast that Arista Networks Inc will post 6.77 earnings per share for the current fiscal year.

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Arista Networks Profile

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.

Further Reading: Hedge Funds Explained

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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