Virginia Retirement Systems ET AL increased its stake in shares of Arista Networks Inc (NYSE:ANET) by 51.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,100 shares of the technology company’s stock after buying an additional 22,500 shares during the quarter. Virginia Retirement Systems ET AL owned 0.09% of Arista Networks worth $17,573,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. OLD Mutual Customised Solutions Proprietary Ltd. bought a new position in Arista Networks in the 2nd quarter valued at $129,000. Signet Financial Management LLC bought a new position in Arista Networks in the 2nd quarter valued at $142,000. Bbva Compass Bancshares Inc. bought a new position in Arista Networks in the 3rd quarter valued at $157,000. NewSquare Capital LLC bought a new position in Arista Networks in the 2nd quarter valued at $181,000. Finally, Foundry Partners LLC purchased a new position in shares of Arista Networks during the 3rd quarter valued at $200,000. Institutional investors and hedge funds own 54.32% of the company’s stock.
In other Arista Networks news, SVP Kenneth Duda sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, October 10th. The stock was sold at an average price of $229.24, for a total value of $2,521,640.00. Following the sale, the senior vice president now owns 2,664 shares of the company’s stock, valued at approximately $610,695.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Nikos Theodosopoulos sold 110 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $273.27, for a total value of $30,059.70. Following the completion of the sale, the director now directly owns 2,073 shares in the company, valued at approximately $566,488.71. The disclosure for this sale can be found here. Insiders have sold a total of 214,820 shares of company stock worth $63,827,705 in the last three months. 24.95% of the stock is currently owned by insiders.
ANET traded up $3.89 during trading on Wednesday, reaching $249.00. 1,192 shares of the company were exchanged, compared to its average volume of 1,268,889. The stock has a market capitalization of $19.29 billion, a price-to-earnings ratio of 53.24, a price-to-earnings-growth ratio of 1.88 and a beta of 1.56. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.11 and a current ratio of 4.51. Arista Networks Inc has a 12-month low of $206.60 and a 12-month high of $313.37.
Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, November 1st. The technology company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.21. The business had revenue of $563.31 million for the quarter, compared to analysts’ expectations of $548.81 million. Arista Networks had a return on equity of 29.06% and a net margin of 28.05%. The firm’s quarterly revenue was up 28.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.62 EPS. On average, research analysts forecast that Arista Networks Inc will post 6.48 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION WARNING: “Virginia Retirement Systems ET AL Buys 22,500 Shares of Arista Networks Inc (ANET)” was reported by WKRB News and is the property of of WKRB News. If you are viewing this report on another site, it was illegally stolen and republished in violation of US and international copyright & trademark laws. The legal version of this report can be viewed at https://www.wkrb13.com/2018/11/07/virginia-retirement-systems-et-al-buys-22500-shares-of-arista-networks-inc-anet.html.
Arista Networks Profile
Arista Networks, Inc provides cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of its 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.
Featured Story: How Important is Technical Analysis of Stocks
Want to see what other hedge funds are holding ANET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arista Networks Inc (NYSE:ANET).
Receive News & Ratings for Arista Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks and related companies with MarketBeat.com's FREE daily email newsletter.