Symmetry Peak Management LLC Reduces Stake in Arista Networks, Inc. (ANET)

Symmetry Peak Management LLC lowered its position in shares of Arista Networks, Inc. (NYSE:ANET) by 63.1% during the first quarter, Holdings Channel reports. The institutional investor owned 12,000 shares of the technology company’s stock after selling 20,500 shares during the period. Symmetry Peak Management LLC’s holdings in Arista Networks were worth $1,587,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ANET. First Personal Financial Services increased its stake in Arista Networks by 3.3% in the first quarter. First Personal Financial Services now owns 1,984 shares of the technology company’s stock worth $262,000 after buying an additional 63 shares in the last quarter. Profund Advisors LLC increased its stake in Arista Networks by 1.7% in the first quarter. Profund Advisors LLC now owns 12,569 shares of the technology company’s stock worth $1,663,000 after buying an additional 209 shares in the last quarter. IFP Advisors Inc increased its stake in Arista Networks by 16.5% in the first quarter. IFP Advisors Inc now owns 1,697 shares of the technology company’s stock worth $224,000 after buying an additional 240 shares in the last quarter. First Republic Investment Management Inc. increased its stake in Arista Networks by 4.3% in the fourth quarter. First Republic Investment Management Inc. now owns 6,065 shares of the technology company’s stock worth $587,000 after buying an additional 252 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in Arista Networks by 2.6% in the first quarter. Stifel Financial Corp now owns 10,170 shares of the technology company’s stock worth $1,349,000 after buying an additional 256 shares in the last quarter. 60.68% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

Arista Networks, Inc. (NYSE:ANET) traded up 0.23% during midday trading on Friday, hitting $151.58. The stock had a trading volume of 1,558,087 shares. The firm has a market cap of $10.91 billion, a price-to-earnings ratio of 48.96 and a beta of 1.35. The firm has a 50 day moving average of $146.71 and a 200 day moving average of $120.06. Arista Networks, Inc. has a 52 week low of $60.51 and a 52 week high of $158.57.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, May 4th. The technology company reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.09. Arista Networks had a return on equity of 20.94% and a net margin of 18.95%. The firm had revenue of $335.48 million during the quarter, compared to analyst estimates of $326.19 million. During the same period last year, the company earned $0.68 EPS. Arista Networks’s quarterly revenue was up 38.5% compared to the same quarter last year. Equities research analysts predict that Arista Networks, Inc. will post $3.95 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: This piece was posted by WKRB News and is owned by of WKRB News. If you are reading this piece on another site, it was stolen and reposted in violation of U.S. and international copyright & trademark legislation. The legal version of this piece can be read at https://www.wkrb13.com/markets/2228888/symmetry-peak-management-llc-reduces-stake-in-arista-networks-inc-anet.html.

A number of research firms have weighed in on ANET. Cowen and Company increased their target price on shares of Arista Networks from $123.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, May 5th. Gabelli reissued a “hold” rating on shares of Arista Networks in a research report on Friday, April 14th. BMO Capital Markets increased their target price on shares of Arista Networks from $145.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, May 5th. DA Davidson downgraded shares of Arista Networks from a “buy” rating to a “neutral” rating and set a $153.00 target price for the company. in a research report on Monday, May 22nd. Finally, Barclays PLC increased their target price on shares of Arista Networks from $161.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday. Fifteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $134.30.

In other Arista Networks news, SVP Marc Taxay sold 2,000 shares of Arista Networks stock in a transaction on Monday, May 1st. The stock was sold at an average price of $139.51, for a total transaction of $279,020.00. Following the completion of the sale, the senior vice president now directly owns 10,650 shares of the company’s stock, valued at approximately $1,485,781.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Anshul Sadana sold 21,000 shares of Arista Networks stock in a transaction on Monday, March 20th. The shares were sold at an average price of $130.00, for a total value of $2,730,000.00. Following the sale, the insider now directly owns 103,524 shares of the company’s stock, valued at $13,458,120. The disclosure for this sale can be found here. Insiders have sold a total of 416,901 shares of company stock valued at $60,971,211 over the last three months. 32.39% of the stock is owned by corporate insiders.

Arista Networks Company Profile

Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.

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).

This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2228888/symmetry-peak-management-llc-reduces-stake-in-arista-networks-inc-anet.html

Receive News & Ratings for Arista Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

 


Leave a Reply

 
© 2006-2017 WKRB News.