A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Arista Networks by 1.4% during the first quarter. Vanguard Group Inc. now owns 25,268,588 shares of the technology company’s stock valued at $3,511,828,000 after buying an additional 353,253 shares during the last quarter. Artisan Partners Limited Partnership increased its holdings in Arista Networks by 1.8% during the third quarter. Artisan Partners Limited Partnership now owns 5,826,032 shares of the technology company’s stock valued at $657,701,000 after buying an additional 101,128 shares during the last quarter. Legal & General Group Plc increased its holdings in Arista Networks by 5.7% during the second quarter. Legal & General Group Plc now owns 1,867,464 shares of the technology company’s stock valued at $175,058,000 after buying an additional 101,483 shares during the last quarter. Invesco Ltd. increased its holdings in Arista Networks by 3.2% during the first quarter. Invesco Ltd. now owns 1,823,080 shares of the technology company’s stock valued at $253,371,000 after buying an additional 57,203 shares during the last quarter. Finally, State Farm Mutual Automobile Insurance Co. increased its stake in shares of Arista Networks by 2.1% in the second quarter. State Farm Mutual Automobile Insurance Co. now owns 1,342,020 shares of the technology company’s stock worth $125,801,000 after purchasing an additional 27,369 shares in the last quarter. 64.30% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on ANET shares. Rosenblatt Securities increased their price objective on shares of Arista Networks from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, November 21st. Cowen increased their price objective on shares of Arista Networks from $203.00 to $212.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 13th. Cowen increased their price objective on shares of Arista Networks from $203.00 to $212.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 13th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Arista Networks from $135.00 to $140.00 in a research note on Thursday, November 3rd. Finally, Barclays increased their price objective on shares of Arista Networks from $131.00 to $143.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 1st. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $167.79.
Arista Networks Stock Up 2.0 %
ANET stock opened at $136.00 on Tuesday. Arista Networks, Inc. has a 52 week low of $89.11 and a 52 week high of $143.57. The company has a fifty day simple moving average of $123.19 and a two-hundred day simple moving average of $122.29. The firm has a market capitalization of $41.56 billion, a P/E ratio of 37.06, a price-to-earnings-growth ratio of 1.67 and a beta of 1.26.
Arista Networks (NYSE:ANET – Get Rating) last released its quarterly earnings data on Monday, February 13th. The technology company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.21 by $0.20. Arista Networks had a net margin of 29.63% and a return on equity of 27.23%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the business earned $0.66 earnings per share. Arista Networks’s quarterly revenue was up 54.7% compared to the same quarter last year. As a group, analysts anticipate that Arista Networks, Inc. will post 3.81 EPS for the current year.
Insider Buying and Selling at Arista Networks
In other Arista Networks news, SVP Marc Taxay sold 6,781 shares of the stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $139.68, for a total transaction of $947,170.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, January 10th. The shares were sold at an average price of $114.69, for a total value of $2,293,800.00. Following the completion of the sale, the senior vice president now owns 3,244 shares in the company, valued at approximately $372,054.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Marc Taxay sold 6,781 shares of the firm’s stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $139.68, for a total transaction of $947,170.08. The disclosure for this sale can be found here. Insiders sold 68,887 shares of company stock worth $8,794,165 over the last 90 days. 19.59% of the stock is owned by insiders.
About Arista Networks
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Arista Networks, Inc engages in the development, marketing, and sale of cloud networking solutions. Its cloud networking solutions consist of Extensible Operating System (EOS), a set of network applications and Ethernet switching, and routing platforms. The company was founded by Andreas Bechtolsheim, David Cheriton, and Kenneth Duda in October 2004 and is headquartered in Santa Clara, CA.
Further Reading
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