08 Jan President Jon Cartu Announces – Arista Networks Inc (NYSE:ANET) Stake Boosted by Man Group…
Man Group plc increased its position in shares of Arista Networks Inc (NYSE:ANET) by 42.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,064 shares of the technology company’s stock after purchasing an additional 907 shares during the quarter. Man Group plc’s holdings in Arista Networks were worth $732,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Strategic Blueprint LLC acquired a new position in Arista Networks during the 3rd quarter worth about $35,000. Meeder Asset Management Inc. lifted its stake in Arista Networks by 1,281.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 152 shares of the technology company’s stock worth $36,000 after acquiring an additional 141 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in Arista Networks during the 2nd quarter worth about $41,000. Coastal Investment Advisors Inc. lifted its stake in Arista Networks by 311.1% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 185 shares of the technology company’s stock worth $48,000 after acquiring an additional 140 shares in the last quarter. Finally, Rational Advisors LLC acquired a new position in Arista Networks during the 2nd quarter worth about $52,000. Hedge funds and other institutional investors own 59.72% of the company’s stock.
Shares of NYSE ANET traded up $1.99 during trading hours on Tuesday, reaching $204.85. The stock had a trading volume of 532,930 shares, compared to its average volume of 610,161. Arista Networks Inc has a fifty-two week low of $173.31 and a fifty-two week high of $331.27. The firm has a 50-day moving average of $197.78 and a 200-day moving average of $229.21. The company has a current ratio of 5.91, a quick ratio of 5.47 and a debt-to-equity ratio of 0.03. The firm has a market cap of $15.34 billion, a price-to-earnings ratio of 28.97, a PEG ratio of 1.69 and a beta of 1.49.
Arista Networks (NYSE:ANET) last posted its quarterly earnings data 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. Arista Networks had a return on equity of 28.94% and a net margin of 32.68%. The company had revenue of $654.40 million during the quarter, compared to analysts’ expectations of $653.26 million. During the same period last year, the firm earned $2.11 EPS. The firm’s revenue for the quarter was up 16.2% on a year-over-year basis. On average, equities analysts predict that Arista Networks Inc will post 8.55 EPS for the current year.
Several research firms recently issued reports on ANET. Barclays set a $210.00 target price on Arista Networks and gave the stock a “buy” rating in a research note on Friday, November 1st. JMP Securities cut their price target on Arista Networks from $280.00 to $216.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Rosenblatt Securities cut their price target on Arista Networks from $260.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Nomura cut their price target on Arista Networks from $230.00 to $190.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Finally, Goldman Sachs Group downgraded Arista Networks from a “conviction-buy” rating to a “buy” rating and cut their price target for the stock from $290.00 to $245.00 in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $227.72.
In related news, SVP Kenneth Duda sold 10,876 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $226.89, for a total value 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nikos Theodosopoulos sold 1,360 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $200.09, for a total value of $272,122.40. Following the completion of the transaction, the director now directly owns 4,957 shares of the company’s stock, valued at $991,846.13. The disclosure for this sale can be found here. Insiders sold a total of 43,315 shares of company stock valued at $8,717,480 over the last three months. Insiders own 23.83% of the company’s stock.
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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