06 May Zeke Capital Advisors LLC Cuts Holdings in Arista Networks …
Zeke Capital Advisors LLC cut its stake in shares of Arista Networks Inc (NYSE:ANET) by 61.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 844 shares of the technology company’s stock after selling 1,362 shares during the period. Zeke Capital Advisors LLC’s holdings in Arista Networks were worth $265,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Larson Financial Group LLC bought a new position in shares of Arista Networks during the fourth quarter worth approximately $25,000. FTB Advisors Inc. bought a new position in shares of Arista Networks during the fourth quarter worth approximately $26,000. Kaizen Advisory LLC bought a new position in shares of Arista Networks during the fourth quarter worth approximately $27,000. CENTRAL TRUST Co increased its holdings in shares of Arista Networks by 53.3% during the fourth quarter. CENTRAL TRUST Co now owns 141 shares of the technology company’s stock worth $29,000 after purchasing an additional 49 shares during the period. Finally, Capital Investment Advisory Services LLC bought a new position in shares of Arista Networks during the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 56.12% of the company’s stock.
In other Arista Networks news, COO Anshul Sadana sold 4,129 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $314.28, for a total value of $1,297,662.12. Following the sale, the chief operating officer now owns 1,893 shares in the company, valued at $594,932.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jayshree Ullal sold 32,394 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $286.58, for a total transaction of $9,283,472.52. Following the completion of the sale, the chief executive officer now owns 10,425 shares in the company, valued at approximately $2,987,596.50. The disclosure for this sale can be found here. Insiders sold 243,441 shares of company stock worth $71,843,158 over the last three months. 23.83% of the stock is currently owned by insiders.
Shares of NYSE:ANET opened at $278.41 on Monday. The company has a market capitalization of $21.30 billion, a P/E ratio of 39.38, a PEG ratio of 1.68 and a beta of 1.47. The company has a current ratio of 4.48, a quick ratio of 4.04 and a debt-to-equity ratio of 0.02. Arista Networks Inc has a 1 year low of $187.08 and a 1 year high of $331.27.
Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, May 2nd. The technology company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.24. The business had revenue of $595.42 million for the quarter, compared to analysts’ expectations of $595.21 million. Arista Networks had a net margin of 30.36% and a return on equity of 31.12%. The firm’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same period last year, the firm posted $1.66 earnings per share. As a group, equities analysts predict that Arista Networks Inc will post 8.24 EPS for the current fiscal year.
Several research analysts have recently commented on the stock. Goldman Sachs Group raised their target price on shares of Arista Networks from $300.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. ValuEngine cut shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Saturday. Zacks Investment Research cut shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 16th. Morgan Stanley cut shares of Arista Networks from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $300.00 to $330.00 in a report on Tuesday, April 23rd. Finally, Credit Suisse Group raised their target price on shares of Arista Networks from $317.00 to $347.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the stock. Arista Networks currently has a consensus rating of “Buy” and a consensus target price of $313.26.
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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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