07 Sep CTO Jon Cartu Announces – Aurora Investment Counsel Raises Stock Holdings in Arista…
Aurora Investment Counsel boosted its stake in Arista Networks Inc (NYSE:ANET) by 4.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,704 shares of the technology company’s stock after acquiring an additional 380 shares during the period. Arista Networks accounts for approximately 1.1% of Aurora Investment Counsel’s holdings, making the stock its 11th biggest holding. Aurora Investment Counsel’s holdings in Arista Networks were worth $2,380,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Lenox Wealth Management Inc. bought a new stake in shares of Arista Networks during the 1st quarter valued at $26,000. Whittier Trust Co. bought a new stake in shares of Arista Networks during the 1st quarter valued at $44,000. Gradient Investments LLC bought a new stake in shares of Arista Networks during the 2nd quarter valued at $37,000. Financial Management Professionals Inc. boosted its holdings in shares of Arista Networks by 548.0% during the 2nd quarter. Financial Management Professionals Inc. now owns 162 shares of the technology company’s stock valued at $42,000 after buying an additional 137 shares in the last quarter. Finally, Coastal Investment Advisors Inc. boosted its holdings in shares of Arista Networks by 311.1% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 185 shares of the technology company’s stock valued at $48,000 after buying an additional 140 shares in the last quarter. Institutional investors and hedge funds own 60.28% of the company’s stock.
In other Arista Networks news, SVP Kenneth Duda sold 10,876 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $224.30, for a total value of $2,439,486.80. Following the completion of the transaction, the senior vice president now owns 1,971 shares of the company’s stock, valued at approximately $442,095.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Marc Taxay sold 2,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $263.32, for a total value of $526,640.00. Following the completion of the transaction, the senior vice president now directly owns 14,150 shares of the company’s stock, valued at approximately $3,725,978. The disclosure for this sale can be found here. In the last three months, insiders sold 190,053 shares of company stock valued at $48,177,991. 23.83% of the stock is owned by insiders.
ANET opened at $235.70 on Friday. The stock has a 50-day moving average price of $241.40 and a 200-day moving average price of $269.99. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.77 and a quick ratio of 5.17. The firm has a market cap of $18.06 billion, a PE ratio of 33.34, a P/E/G ratio of 1.37 and a beta of 1.55. Arista Networks Inc has a 1 year low of $187.08 and a 1 year high of $331.27.
Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, August 1st. The technology company reported $2.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.98 by $0.46. Arista Networks had a return on equity of 28.76% and a net margin of 30.86%. The business had revenue of $608.32 million during the quarter, compared to analyst estimates of $606.78 million. During the same quarter in the previous year, the firm earned $1.93 EPS. Arista Networks’s revenue was up 17.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Arista Networks Inc will post 8.67 EPS for the current year.
A number of analysts have recently commented on ANET shares. JMP Securities restated an “outperform” rating and set a $280.00 target price (down previously from $315.00) on shares of Arista Networks in a report on Friday, August 2nd. Needham & Company LLC dropped their target price on shares of Arista Networks to $340.00 and set a “buy” rating on the stock in a report on Monday, July 29th. Morgan Stanley dropped their target price on shares of Arista Networks from $300.00 to $275.00 and set an “equal weight” rating on the stock in a report on Friday, June 7th. Zacks Investment Research upgraded shares of Arista Networks from a “sell” rating to a “hold” rating and set a $284.00 target price on the stock in a report on Monday, July 8th. Finally, Goldman Sachs Group set a $290.00 target price on shares of Arista Networks and gave the company a “buy” rating in a report on Friday, August 30th. Eight analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $305.74.
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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