Profund Advisors LLC raised its holdings in Arista Networks Inc (NYSE:ANET) by 1.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,796 shares of the technology company’s stock after purchasing an additional 268 shares during the quarter. Profund Advisors LLC’s holdings in Arista Networks were worth $3,416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Man Group plc boosted its position in Arista Networks by 42.0% during the 3rd quarter. Man Group plc now owns 3,064 shares of the technology company’s stock valued at $732,000 after acquiring an additional 907 shares in the last quarter. Worldquant Millennium Advisors LLC acquired a new stake in shares of Arista Networks in the 3rd quarter worth $8,921,000. National Pension Service boosted its position in shares of Arista Networks by 5.5% in the 3rd quarter. National Pension Service now owns 75,963 shares of the technology company’s stock worth $18,149,000 after purchasing an additional 3,964 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of Arista Networks by 1.3% in the 3rd quarter. California State Teachers Retirement System now owns 97,937 shares of the technology company’s stock worth $23,399,000 after purchasing an additional 1,260 shares in the last quarter. Finally, Amalgamated Bank boosted its position in shares of Arista Networks by 4.5% in the 4th quarter. Amalgamated Bank now owns 10,119 shares of the technology company’s stock worth $2,058,000 after purchasing an additional 433 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.
A number of analysts have recently weighed in on the company. Argus raised their price objective on Arista Networks from $245.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Citigroup lowered their price objective on Arista Networks from $225.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, March 16th. Barclays cut Arista Networks from an “overweight” rating to an “equal weight” rating and set a $220.00 price objective for the company. in a research report on Thursday, January 30th. JPMorgan Chase & Co. raised Arista Networks from an “underweight” rating to a “neutral” rating and set a $182.00 price objective for the company in a research report on Wednesday, March 4th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $220.00 price objective on shares of Arista Networks in a research report on Friday, February 14th. Eighteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $226.80.
Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported $2.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.83 by $0.46. The company had revenue of $552.55 million for the quarter, compared to analysts’ expectations of $550.63 million. Arista Networks had a return on equity of 27.00% and a net margin of 37.20%. During the same period in the previous year, the firm posted $2.25 EPS. As a group, sell-side analysts expect that Arista Networks Inc will post 7.55 EPS for the current fiscal year.
In other news, SVP Marc Taxay sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $204.62, for a total transaction of $409,240.00. Following the transaction, the senior vice president now directly owns 7,449 shares in the company, valued at approximately $1,524,214.38. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Kenneth Duda sold 1,089 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $168.99, for a total value of $184,030.11. Following the transaction, the senior vice president now owns 5,294 shares in the company, valued at $894,633.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,281 shares of company stock worth $14,287,013. Insiders own 23.83% of the company’s stock.
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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