28 Jan Specialist Jon Cartu Claims – Prentiss Smith & Co. Inc. Sells 7,951 Shares of Arista…
Prentiss Smith & Co. Inc. lessened its position in shares of Arista Networks Inc (NYSE:ANET) by 27.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,677 shares of the technology company’s stock after selling 7,951 shares during the quarter. Arista Networks accounts for 2.7% of Prentiss Smith & Co. Inc.’s portfolio, making the stock its 18th biggest holding. Prentiss Smith & Co. Inc.’s holdings in Arista Networks were worth $4,206,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Strategic Blueprint LLC bought a new stake in Arista Networks during the third quarter valued at about $35,000. Meeder Asset Management Inc. boosted its stake in Arista Networks by 1,281.8% during the third quarter. Meeder Asset Management Inc. now owns 152 shares of the technology company’s stock valued at $36,000 after buying an additional 141 shares during the last quarter. Neo Ivy Capital Management bought a new position in Arista Networks during the third quarter valued at approximately $67,000. North Star Investment Management Corp. bought a new position in Arista Networks during the third quarter valued at approximately $72,000. Finally, Focused Wealth Management Inc bought a new position in Arista Networks during the third quarter valued at approximately $72,000. 59.63% of the stock is owned by institutional investors and hedge funds.
ANET has been the topic of a number of recent research reports. UBS Group decreased their price objective on Arista Networks from $285.00 to $200.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Goldman Sachs Group downgraded Arista Networks from a “conviction-buy” rating to a “buy” rating and decreased their price objective for the company from $290.00 to $245.00 in a research report on Friday, November 1st. Morgan Stanley decreased their price objective on Arista Networks from $275.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Friday, November 1st. Piper Jaffray Companies reduced their price target on Arista Networks from $272.00 to $213.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Finally, New Street Research assumed coverage on Arista Networks in a report on Wednesday, November 27th. They issued a “buy” rating and a $250.00 price target on the stock. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Arista Networks has a consensus rating of “Hold” and an average target price of $227.72.
In other news, SVP Marc Taxay sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $181.52, for a total transaction of $363,040.00. Following the completion of the transaction, the senior vice president now directly owns 11,396 shares of the company’s stock, valued at approximately $2,068,601.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ann Mather sold 329 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was 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 have sold 52,646 shares of company stock valued at $10,565,871 in the last quarter. Insiders own 23.83% of the company’s stock.
ANET stock traded up $1.91 during midday trading on Tuesday, reaching $236.88. The stock had a trading volume of 32,310 shares, compared to its average volume of 615,177. The stock has a market cap of $18.19 billion, a PE ratio of 24.96, a P/E/G ratio of 2.01 and a beta of 1.49. 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 fifty day simple moving average of $208.56 and a two-hundred day simple moving average of $224.96. Arista Networks Inc has a 52-week low of $173.31 and a 52-week high of $331.27.
Arista Networks (NYSE:ANET) last announced its earnings results on Thursday, October 31st. The technology company reported $2.69 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $653.26 million. During the same quarter in the previous year, the company earned $2.11 earnings per share. The firm’s quarterly revenue was up 16.2% compared to the same quarter last year. On average, sell-side analysts predict that Arista Networks Inc will post 8.56 EPS 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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