Marshall Wace North America L.P. Takes $19.48 Million Position in Arista Networks Inc (ANET)

Marshall Wace North America L.P. bought a new stake in shares of Arista Networks Inc (NYSE:ANET) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 73,280 shares of the technology company’s stock, valued at approximately $19,482,000. Marshall Wace North America L.P. owned approximately 0.10% of Arista Networks at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dupont Capital Management Corp acquired a new stake in shares of Arista Networks in the 3rd quarter worth $109,000. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new stake in shares of Arista Networks in the 2nd quarter worth $129,000. Signet Financial Management LLC acquired a new stake in shares of Arista Networks in the 2nd quarter worth $142,000. Bbva Compass Bancshares Inc. acquired a new stake in shares of Arista Networks in the 3rd quarter worth $157,000. Finally, Atlas Capital Advisors LLC acquired a new stake in shares of Arista Networks in the 3rd quarter worth $164,000. 58.54% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently weighed in on ANET shares. Morgan Stanley cut Arista Networks from an “overweight” rating to an “equal weight” rating and set a $310.00 price objective for the company. in a research report on Tuesday, September 4th. William Blair reissued an “outperform” rating on shares of Arista Networks in a research report on Monday, September 17th. Goldman Sachs Group cut Arista Networks from a “conviction-buy” rating to a “buy” rating in a research report on Thursday, October 4th. Credit Suisse Group set a $315.00 price objective on Arista Networks and gave the stock a “buy” rating in a research report on Friday, November 2nd. Finally, Berenberg Bank set a $350.00 price objective on Arista Networks and gave the stock a “buy” rating in a research report on Wednesday, September 19th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Arista Networks presently has an average rating of “Buy” and a consensus price target of $295.40.

In other Arista Networks news, SVP Marc Taxay sold 2,000 shares of Arista Networks 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 completion of the transaction, the senior vice president now owns 16,963 shares in the company, valued at approximately $4,466,527.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kenneth Duda sold 11,000 shares of Arista Networks stock in a transaction dated Wednesday, October 10th. The shares were sold at an average price of $229.24, for a total value of $2,521,640.00. Following the transaction, the senior vice president now owns 2,664 shares of the company’s stock, valued at approximately $610,695.36. The disclosure for this sale can be found here. Insiders have sold a total of 43,241 shares of company stock valued at $10,545,875 in the last quarter. Company insiders own 24.95% of the company’s stock.

Shares of ANET opened at $225.09 on Friday. Arista Networks Inc has a one year low of $210.55 and a one year high of $313.37. The company has a quick ratio of 4.11, a current ratio of 4.51 and a debt-to-equity ratio of 0.02. The stock has a market cap of $17.98 billion, a price-to-earnings ratio of 48.41, a PEG ratio of 1.64 and a beta of 1.56.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, November 1st. The technology company reported $1.83 EPS for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.21. Arista Networks had a return on equity of 29.06% and a net margin of 28.05%. 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 firm posted $1.62 EPS. The firm’s revenue was up 28.7% compared to the same quarter last year. As a group, equities research analysts expect that Arista Networks Inc will post 6.84 earnings per share for the current 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.

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

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