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Keybank National Association OH decreased its holdings in shares of Arista Networks Inc (NYSE:ANET) by 36.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,005 shares of the technology company’s stock after selling 3,427 shares during the period. Keybank National Association OH’s holdings in Arista Networks were worth $1,435,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in Arista Networks by 2.5% in the second quarter. Vanguard Group Inc. now owns 5,777,829 shares of the technology company’s stock valued at $1,500,040,000 after purchasing an additional 139,675 shares during the period. BlackRock Inc. lifted its position in Arista Networks by 4.7% during the 2nd quarter. BlackRock Inc. now owns 3,904,300 shares of the technology company’s stock worth $1,013,633,000 after acquiring an additional 174,887 shares in the last quarter. First Trust Advisors LP boosted its holdings in Arista Networks by 53.1% in the 2nd quarter. First Trust Advisors LP now owns 1,143,852 shares of the technology company’s stock worth $296,967,000 after acquiring an additional 396,782 shares during the period. Eaton Vance Management grew its holdings in Arista Networks by 2.8% during the 2nd quarter. Eaton Vance Management now owns 964,428 shares of the technology company’s stock valued at $250,380,000 after purchasing an additional 26,627 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in Arista Networks by 65,325.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 817,820 shares of the technology company’s stock worth $212,322,000 after buying an additional 816,570 shares in the last quarter. 59.68% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently commented on ANET. Evercore ISI assumed coverage on Arista Networks in a report on Wednesday, September 11th. They issued an “inline” rating and a $240.00 price target for the company. Deutsche Bank decreased their price objective on shares of Arista Networks from $230.00 to $180.00 and set a “hold” rating for the company in a report on Friday, November 1st. Stifel Nicolaus downgraded Arista Networks from a “buy” rating to a “hold” rating and reduced their target price for the stock from $287.00 to $193.00 in a report on Friday, November 1st. Nomura decreased their price objective on shares of Arista Networks from $230.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Finally, Cowen dropped their price target on Arista Networks from $295.00 to $212.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the company. Arista Networks has a consensus rating of “Hold” and a consensus target price of $230.50.
Shares of NYSE:ANET opened at $191.99 on Wednesday. The business has a 50 day moving average price of $210.61 and a 200 day moving average price of $237.56. The company has a market cap of $14.67 billion, a price-to-earnings ratio of 27.16, a PEG ratio of 1.49 and a beta of 1.54. The company has a quick ratio of 5.47, a current ratio of 5.91 and a debt-to-equity ratio of 0.03. Arista Networks Inc has a twelve month low of $173.31 and a twelve month high of $331.27.
Arista Networks (NYSE:ANET) last released its earnings results on Thursday, October 31st. The technology company reported $2.69 earnings per share for the quarter, topping analysts’ consensus estimates of $2.19 by $0.50. The business had revenue of $654.40 million for the quarter, compared to the consensus estimate of $653.26 million. Arista Networks had a return on equity of 28.94% and a net margin of 32.68%. The firm’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same period last year, the business earned $2.11 earnings per share. Analysts anticipate that Arista Networks Inc will post 8.55 EPS for the current year.
In other news, SVP Kenneth Duda sold 10,874 shares of Arista Networks stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $234.82, for a total value of $2,553,432.68. Following the completion of the transaction, the senior vice president now owns 2,979 shares in the company, valued at $699,528.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ann Mather sold 329 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $194.00, for a total value of $63,826.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,953 shares of company stock worth $8,006,469. 23.83% of the stock is owned by company insiders.
Arista Networks Profile
Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company’s cloud networking solutions consist of 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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