Arizona State Retirement System acquired a new position in shares of Arista Networks Inc (NYSE:ANET) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 12,796 shares of the technology company’s stock, valued at approximately $3,402,000.
Other large investors also recently bought and sold shares of the company. HRT Financial LLC acquired a new stake in shares of Arista Networks during the second quarter worth $252,000. NorthCoast Asset Management LLC raised its holdings in shares of Arista Networks by 377.6% during the second quarter. NorthCoast Asset Management LLC now owns 73,853 shares of the technology company’s stock worth $19,016,000 after purchasing an additional 58,389 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Arista Networks by 1.4% during the second quarter. Public Employees Retirement System of Ohio now owns 35,479 shares of the technology company’s stock worth $9,135,000 after purchasing an additional 484 shares during the last quarter. Stanley Laman Group Ltd. raised its holdings in shares of Arista Networks by 1.5% during the second quarter. Stanley Laman Group Ltd. now owns 22,688 shares of the technology company’s stock worth $5,842,000 after purchasing an additional 330 shares during the last quarter. Finally, Schroder Investment Management Group purchased a new position in shares of Arista Networks during the second quarter worth $1,396,000. Institutional investors and hedge funds own 54.32% of the company’s stock.
ANET has been the subject of several recent research reports. Credit Suisse Group set a $311.00 target price on shares of Arista Networks and gave the stock a “buy” rating in a report on Thursday, October 4th. Goldman Sachs Group cut shares of Arista Networks from a “conviction-buy” rating to a “buy” rating in a report on Thursday, October 4th. KeyCorp reissued a “buy” rating and set a $310.00 target price on shares of Arista Networks in a report on Friday, August 3rd. DA Davidson raised their target price 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 raised their target price on shares of Arista Networks to $320.00 and gave the stock a “buy” rating in a report on Monday, August 6th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Arista Networks presently has an average rating of “Buy” and an average target price of $291.83.
ANET opened at $244.43 on Friday. Arista Networks Inc has a fifty-two week low of $206.86 and a fifty-two week high of $313.37. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.51 and a quick ratio of 4.11. The firm has a market capitalization of $18.49 billion, a price-to-earnings ratio of 52.57, a PEG ratio of 1.70 and a beta of 1.56.
Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, November 1st. The technology company reported $1.83 earnings per share 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 company had revenue of $563.31 million during 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 firm’s revenue for the quarter was up 28.7% on a year-over-year basis. As a group, equities analysts anticipate that Arista Networks Inc will post 6.77 EPS for the current year.
In other 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 transaction of $2,942,390.00. Following the completion of the sale, the senior vice president now owns 2,664 shares of the company’s stock, valued at $712,593.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Marc Taxay sold 2,000 shares of the business’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $263.31, for a total transaction of $526,620.00. Following the sale, the senior vice president now directly owns 16,963 shares of the company’s stock, valued at approximately $4,466,527.53. The disclosure for this sale can be found here. Insiders sold 203,820 shares of company stock valued at $60,871,675 in the last ninety days. 24.95% of the stock is owned by corporate insiders.
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Arista Networks Company 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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