10 Sep VP Jon Cartu Claims – Everence Capital Management Inc. Purchases New Shares in…
Everence Capital Management Inc. purchased a new position in Arista Networks Inc (NYSE:ANET) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,120 shares of the technology company’s stock, valued at approximately $810,000.
Other large investors also recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC grew its holdings in Arista Networks by 24.2% in the second quarter. Valeo Financial Advisors LLC now owns 190 shares of the technology company’s stock worth $49,000 after purchasing an additional 37 shares during the period. Cigna Investments Inc. New grew its stake in shares of Arista Networks by 2.4% in the 1st quarter. Cigna Investments Inc. New now owns 1,675 shares of the technology company’s stock worth $528,000 after buying an additional 40 shares during the last quarter. CENTRAL TRUST Co increased its position in Arista Networks by 42.6% during the 1st quarter. CENTRAL TRUST Co now owns 201 shares of the technology company’s stock valued at $63,000 after buying an additional 60 shares in the last quarter. Montag & Caldwell LLC increased its position in Arista Networks by 4.5% during the 1st quarter. Montag & Caldwell LLC now owns 1,410 shares of the technology company’s stock valued at $443,000 after buying an additional 61 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in Arista Networks by 46.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the technology company’s stock valued at $61,000 after buying an additional 61 shares in the last quarter. Institutional investors and hedge funds own 58.78% of the company’s stock.
Shares of ANET stock traded down $4.57 on Monday, reaching $231.13. The company’s stock had a trading volume of 713,137 shares, compared to its average volume of 904,544. The stock’s fifty day simple moving average is $238.38 and its 200-day simple moving average is $269.47. The company has a current ratio of 5.77, a quick ratio of 5.17 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $18.15 billion, a price-to-earnings ratio of 32.69, a price-to-earnings-growth ratio of 1.42 and a beta of 1.55. Arista Networks Inc has a 1 year low of $187.08 and a 1 year high of $331.27.
Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.46. The business had revenue of $608.32 million during the quarter, compared to analyst estimates of $606.78 million. Arista Networks had a return on equity of 28.76% and a net margin of 30.86%. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period last year, the company earned $1.93 EPS. Equities research analysts forecast that Arista Networks Inc will post 8.67 earnings per share for the current year.
In related news, SVP Manuel Felix Rivelo sold 151 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $275.00, for a total value of $41,525.00. Following the transaction, the senior vice president now owns 422 shares of the company’s stock, valued at approximately $116,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Marc Taxay sold 2,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $263.32, for a total transaction of $526,640.00. Following the completion of the sale, the senior vice president now directly owns 14,150 shares of the company’s stock, valued at $3,725,978. The disclosure for this sale can be found here. In the last three months, insiders sold 38,936 shares of company stock worth $9,985,447. Insiders own 23.83% of the company’s stock.
ANET has been the topic of several analyst reports. JMP Securities reissued an “outperform” rating and issued a $280.00 target price (down from $315.00) on shares of Arista Networks in a report on Friday, August 2nd. Royal Bank of Canada set a $300.00 price target on shares of Arista Networks and gave the stock a “buy” rating in a research note on Friday, July 19th. Morgan Stanley cut their price objective on shares of Arista Networks from $300.00 to $275.00 and set an “equal weight” rating on the stock in a research report on Friday, June 7th. Goldman Sachs Group set a $290.00 price objective on shares of Arista Networks and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Needham & Company LLC dropped their target price on shares of Arista Networks to $340.00 and set a “buy” rating on the stock in a research note on Monday, July 29th. Eight equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $305.74.
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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