14 Sep Dr. Jon Cartu Says – Arista Networks Inc (NYSE:ANET) Shares Sold by Aperio Group…
Aperio Group LLC decreased its holdings in Arista Networks Inc (NYSE:ANET) by 10.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,010 shares of the technology company’s stock after selling 1,813 shares during the quarter. Aperio Group LLC’s holdings in Arista Networks were worth $4,156,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Swedbank acquired a new stake in Arista Networks during the 1st quarter worth approximately $152,582,000. Artisan Partners Limited Partnership acquired a new position in shares of Arista Networks during the 1st quarter worth $132,213,000. First Trust Advisors LP raised its holdings in shares of Arista Networks by 53.1% during the 2nd quarter. First Trust Advisors LP now owns 1,143,852 shares of the technology company’s stock worth $296,967,000 after buying an additional 396,782 shares in the last quarter. FMR LLC raised its holdings in shares of Arista Networks by 25.1% during the 1st quarter. FMR LLC now owns 1,956,747 shares of the technology company’s stock worth $615,319,000 after buying an additional 392,021 shares in the last quarter. Finally, Carillon Tower Advisers Inc. raised its holdings in shares of Arista Networks by 105.1% during the 1st quarter. Carillon Tower Advisers Inc. now owns 329,500 shares of the technology company’s stock worth $103,615,000 after buying an additional 168,875 shares in the last quarter. 58.78% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ANET stock traded down $6.18 on Friday, reaching $243.76. The company’s stock had a trading volume of 606,971 shares, compared to its average volume of 902,211. The company has a quick ratio of 5.17, a current ratio of 5.77 and a debt-to-equity ratio of 0.04. Arista Networks Inc has a 12-month low of $187.08 and a 12-month high of $331.27. The company has a market capitalization of $18.91 billion, a P/E ratio of 34.48, a PEG ratio of 1.44 and a beta of 1.55. The stock’s 50 day simple moving average is $236.05 and its 200-day simple moving average is $269.00.
Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $2.44 earnings per share (EPS) 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 company had revenue of $608.32 million for the quarter, compared to the consensus estimate of $606.78 million. During the same quarter last year, the business posted $1.93 earnings per share. The firm’s revenue was up 17.0% compared to the same quarter last year. Research analysts expect that Arista Networks Inc will post 8.67 EPS for the current year.
A number of equities analysts have recently commented on the company. Piper Jaffray Companies reissued an “overweight” rating and set a $330.00 price target (down previously from $340.00) on shares of Arista Networks in a report on Friday, June 7th. JMP Securities restated an “outperform” rating and set a $280.00 price objective (down previously from $315.00) on shares of Arista Networks in a research report on Friday, August 2nd. Evercore ISI started coverage on Arista Networks in a research report on Wednesday. They issued an “inline” rating and a $240.00 price target on the stock. Goldman Sachs Group set a $290.00 price target on Arista Networks and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, Needham & Company LLC reduced their price target on Arista Networks to $340.00 and set a “buy” rating on the stock in a research report on Monday, July 29th. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $303.00.
In related news, COO Anshul Sadana sold 1,350 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $280.07, for a total value of $378,094.50. Following the completion of the transaction, the chief operating officer now owns 1,783 shares of the company’s stock, valued at approximately $499,364.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Kenneth Duda sold 10,874 shares of the stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $271.29, for a total transaction of $2,950,007.46. Following the transaction, the senior vice president now directly owns 1,971 shares of the company’s stock, valued at approximately $534,712.59. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,810 shares of company stock valued at $12,538,880. 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.
Further Reading: Rule of 72
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