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.
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.
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