Pres. Jon Cartu Writes - Janney Montgomery Scott LLC Purchases 7,372 Shares of... - Jonathan Cartu Computer Repair Consultant Services
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Pres. Jon Cartu Writes – Janney Montgomery Scott LLC Purchases 7,372 Shares of…

Arista Networks Inc logo

Pres. Jon Cartu Writes – Janney Montgomery Scott LLC Purchases 7,372 Shares of…

Janney Montgomery Scott LLC increased its position in shares of Arista Networks Inc (NYSE:ANET) by 79.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,620 shares of the technology company’s stock after purchasing an additional 7,372 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Arista Networks were worth $3,971,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Arista Networks by 2.5% during the second quarter. Vanguard Group Inc. now owns 5,777,829 shares of the technology company’s stock worth $1,500,040,000 after purchasing an additional 139,675 shares during the last quarter. BlackRock Inc. boosted its stake in Arista Networks by 4.7% in the second quarter. BlackRock Inc. now owns 3,904,300 shares of the technology company’s stock valued at $1,013,633,000 after acquiring an additional 174,887 shares during the last quarter. First Trust Advisors LP boosted its stake in Arista Networks by 53.1% in the second quarter. First Trust Advisors LP now owns 1,143,852 shares of the technology company’s stock valued at $296,967,000 after acquiring an additional 396,782 shares during the last quarter. Eaton Vance Management boosted its stake in Arista Networks by 2.8% in the second quarter. Eaton Vance Management now owns 964,428 shares of the technology company’s stock valued at $250,380,000 after acquiring an additional 26,627 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in Arista Networks by 65,325.6% in the second quarter. Nuveen Asset Management LLC now owns 817,820 shares of the technology company’s stock valued at $212,322,000 after acquiring an additional 816,570 shares during the last quarter. Institutional investors and hedge funds own 59.68% of the company’s stock.

In other news, SVP Marc Taxay sold 2,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $225.20, for a total value of $450,400.00. Following the transaction, the senior vice president now owns 13,228 shares of the company’s stock, valued at approximately $2,978,945.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ann Mather sold 329 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $194.00, for a total transaction of $63,826.00. The disclosure for this sale can be found here. Insiders sold a total of 38,953 shares of company stock worth $8,456,869 in the last three months. Insiders own 23.83% of the company’s stock.

A number of research analysts have weighed in on the stock. Credit Suisse Group cut shares of Arista Networks from an “outperform” rating to a “neutral” rating and set a $144.00 target price on the stock. in a research note on Friday, November 1st. Cowen dropped their target price on shares of Arista Networks from $295.00 to $212.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. MKM Partners dropped their target price on shares of Arista Networks from $275.00 to $210.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Citigroup upgraded shares of Arista Networks to a “buy” rating and dropped their target price for the company from $315.00 to $225.00 in a research note on Friday, November 1st. Finally, Deutsche Bank dropped their target price on shares of Arista Networks from $230.00 to $180.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $227.04.

Arista Networks stock traded down $1.64 during midday trading on Tuesday, reaching $196.27. 709,480 shares of the stock were exchanged, compared to its average volume of 905,716. The company’s fifty day moving average is $215.92 and its 200-day moving average is $239.76. 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 firm has a market cap of $14.98 billion, a PE ratio of 27.76, a PEG ratio of 1.49 and a beta of 1.60. Arista Networks Inc has a 52 week low of $173.31 and a 52 week high of $331.27.

Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, October 31st. The technology company reported $2.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.19 by $0.50. The business had revenue of $654.40 million for the quarter, compared to analyst estimates of $653.26 million. Arista Networks had a net margin of 32.68% and a return on equity of 28.94%. Arista Networks’s revenue was up 16.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.11 EPS. On average, sell-side analysts anticipate that Arista Networks Inc will post 8.55 earnings per share for the current fiscal year.

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



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