25 Dec Adv. Jonathan Cartu Announces – National Pension Service Acquires 3,964 Shares of Arista…
National Pension Service boosted its holdings in Arista Networks Inc (NYSE:ANET) by 5.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,963 shares of the technology company’s stock after acquiring an additional 3,964 shares during the quarter. National Pension Service owned 0.10% of Arista Networks worth $18,149,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the business. Penserra Capital Management LLC grew its stake in shares of Arista Networks by 27.1% in the 3rd quarter. Penserra Capital Management LLC now owns 2,736 shares of the technology company’s stock worth $652,000 after purchasing an additional 583 shares during the last quarter. California State Teachers Retirement System grew its position in Arista Networks by 1.3% in the third quarter. California State Teachers Retirement System now owns 97,937 shares of the technology company’s stock worth $23,399,000 after buying an additional 1,260 shares during the last quarter. Andra AP fonden increased its holdings in shares of Arista Networks by 9.1% in the third quarter. Andra AP fonden now owns 12,000 shares of the technology company’s stock valued at $2,867,000 after buying an additional 1,000 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Arista Networks in the third quarter valued at $252,000. Finally, Chevy Chase Trust Holdings Inc. lifted its position in shares of Arista Networks by 3.0% during the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 45,441 shares of the technology company’s stock valued at $10,857,000 after acquiring an additional 1,309 shares during the last quarter. 59.72% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Arista Networks stock traded down $0.23 during midday trading on Tuesday, reaching $204.64. 264,018 shares of the company’s stock traded hands, compared to its average volume of 894,257. The company’s 50 day simple moving average is $194.43 and its 200 day simple moving average is $232.10. Arista Networks Inc has a 52 week low of $173.31 and a 52 week high of $331.27. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.47 and a current ratio of 5.91. The company has a market cap of $15.63 billion, a price-to-earnings ratio of 28.94, a price-to-earnings-growth ratio of 1.58 and a beta of 1.54.
Arista Networks (NYSE:ANET) last released its earnings results on Thursday, October 31st. The technology company reported $2.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.19 by $0.50. Arista Networks had a net margin of 32.68% and a return on equity of 28.94%. The firm had revenue of $654.40 million during the quarter, compared to analysts’ expectations of $653.26 million. During the same period in the prior year, the company earned $2.11 EPS. The business’s quarterly revenue was up 16.2% compared to the same quarter last year. As a group, equities research analysts predict that Arista Networks Inc will post 8.55 earnings per share for the current year.
Several research analysts have commented on the stock. Rosenblatt Securities decreased their target price on shares of Arista Networks from $260.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Bank of America downgraded shares of Arista Networks from a “buy” rating to a “neutral” rating in a research report on Friday, November 1st. JMP Securities decreased their target price on Arista Networks from $280.00 to $216.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Nomura dropped their price target on Arista Networks from $230.00 to $190.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Finally, Barclays set a $210.00 price objective on Arista Networks and gave the stock a “buy” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $227.72.
In other news, SVP Kenneth Duda sold 10,876 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $226.89, for a total transaction of $2,467,655.64. Following the completion of the transaction, the senior vice president now directly owns 2,979 shares of the company’s stock, valued at approximately $675,905.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nikos Theodosopoulos sold 1,360 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $200.09, for a total transaction of $272,122.40. Following the completion of the sale, the director now directly owns 4,957 shares in the company, valued at approximately $991,846.13. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,315 shares of company stock worth $8,782,100. 23.83% of the stock is owned by company insiders.
Arista Networks Company 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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