23 Sep VP Jon Cartu Announced – Caisse DE Depot ET Placement DU Quebec Sells 9,500 Shares…
Caisse DE Depot ET Placement DU Quebec reduced its holdings in shares of Arista Networks Inc (NYSE:ANET) by 67.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,500 shares of the technology company’s stock after selling 9,500 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Arista Networks were worth $1,168,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC increased its stake in shares of Arista Networks by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 679,899 shares of the technology company’s stock worth $143,006,000 after purchasing an additional 15,438 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of Arista Networks during the first quarter valued at $386,000. Janney Montgomery Scott LLC lifted its holdings in shares of Arista Networks by 33.0% during the first quarter. Janney Montgomery Scott LLC now owns 8,622 shares of the technology company’s stock valued at $2,711,000 after acquiring an additional 2,137 shares during the period. HL Financial Services LLC bought a new position in shares of Arista Networks during the first quarter valued at $207,000. Finally, Sigma Planning Corp lifted its holdings in shares of Arista Networks by 48.3% during the first quarter. Sigma Planning Corp now owns 1,575 shares of the technology company’s stock valued at $495,000 after acquiring an additional 513 shares during the period. Institutional investors and hedge funds own 58.74% of the company’s stock.
A number of research analysts recently issued reports on ANET shares. Evercore ISI initiated coverage on Arista Networks in a report on Wednesday, September 11th. They issued an “inline” rating and a $240.00 price target for the company. JMP Securities reiterated an “outperform” rating and set a $280.00 price objective (down previously from $315.00) on shares of Arista Networks in a research note on Friday, August 2nd. Needham & Company LLC dropped their price target on Arista Networks to $340.00 and set a “buy” rating on the stock in a research note on Monday, July 29th. Zacks Investment Research raised Arista Networks from a “sell” rating to a “hold” rating and set a $284.00 price objective on the stock in a report on Monday, July 8th. Finally, Piper Jaffray Companies reissued an “overweight” rating and set a $330.00 target price (down from $340.00) on shares of Arista Networks in a report on Friday, June 7th. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $300.96.
ANET traded down $1.01 during trading on Monday, reaching $239.05. 3,013 shares of the company’s stock were exchanged, compared to its average volume of 589,897. Arista Networks Inc has a fifty-two week low of $187.08 and a fifty-two week high of $331.27. The company has a quick ratio of 5.17, a current ratio of 5.77 and a debt-to-equity ratio of 0.04. The business has a 50 day moving average price of $232.01 and a 200 day moving average price of $267.65. The company has a market capitalization of $18.71 billion, a P/E ratio of 33.76, a PEG ratio of 1.47 and a beta of 1.55.
Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, August 1st. The technology company reported $2.44 EPS for the quarter, beating the 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 firm had revenue of $608.32 million during the quarter, compared to the consensus estimate of $606.78 million. During the same period last year, the company earned $1.93 earnings per share. The business’s quarterly revenue was up 17.0% on a year-over-year basis. As a group, research analysts forecast that Arista Networks Inc will post 8.71 EPS for the current year.
In related news, COO Anshul Sadana sold 1,350 shares of Arista Networks stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $280.07, for a total transaction of $378,094.50. Following the sale, the chief operating officer now directly owns 1,783 shares in the company, valued at $499,364.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kenneth Duda sold 10,876 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $224.30, for a total value of $2,439,486.80. Following the completion of the sale, the senior vice president now owns 1,971 shares in the company, valued at $442,095.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,810 shares of company stock worth $12,538,880. 23.83% of the stock is owned by insiders.
About Arista Networks
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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