Jaffetilchin Investment Partners LLC cut its stake in shares of Arista Networks Inc (NYSE:ANET) by 72.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,566 shares of the technology company’s stock after selling 9,211 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in Arista Networks were worth $840,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Capital Research Global Investors grew its stake in Arista Networks by 2.8% in the second quarter. Capital Research Global Investors now owns 7,579,814 shares of the technology company’s stock valued at $1,135,380,000 after acquiring an additional 209,783 shares during the period. Vanguard Group Inc. grew its stake in Arista Networks by 7.1% in the second quarter. Vanguard Group Inc. now owns 3,763,999 shares of the technology company’s stock valued at $563,810,000 after acquiring an additional 249,753 shares during the period. BlackRock Inc. grew its stake in Arista Networks by 41.1% in the second quarter. BlackRock Inc. now owns 2,376,973 shares of the technology company’s stock valued at $356,048,000 after acquiring an additional 692,651 shares during the period. State Street Corp grew its stake in Arista Networks by 44.7% in the second quarter. State Street Corp now owns 1,063,294 shares of the technology company’s stock valued at $159,278,000 after acquiring an additional 328,534 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in Arista Networks by 2.9% in the third quarter. Ameriprise Financial Inc. now owns 649,475 shares of the technology company’s stock valued at $123,136,000 after acquiring an additional 18,465 shares during the period. 58.16% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on ANET shares. Citigroup boosted their target price on Arista Networks to $250.00 and gave the company a “buy” rating in a research note on Friday, December 1st. Needham & Company LLC restated a “buy” rating and issued a $217.00 price target (up from $175.00) on shares of Arista Networks in a report on Friday, November 3rd. They noted that the move was a valuation call. KeyCorp restated an “overweight” rating and issued a $240.00 price target (up from $213.00) on shares of Arista Networks in a report on Thursday, December 14th. Nomura boosted their price target on Arista Networks from $173.00 to $185.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Finally, BMO Capital Markets boosted their price target on Arista Networks from $190.00 to $205.00 and gave the company a “market perform” rating in a report on Friday, November 3rd. They noted that the move was a valuation call. Sixteen analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $216.59.
In related news, insider Jayshree Ullal sold 81,380 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $211.89, for a total transaction of $17,243,608.20. Following the sale, the insider now owns 3,564 shares of the company’s stock, valued at $755,175.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Marc Taxay sold 2,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $275.31, for a total value of $550,620.00. Following the sale, the senior vice president now directly owns 12,294 shares in the company, valued at approximately $3,384,661.14. The disclosure for this sale can be found here. Insiders sold 620,126 shares of company stock worth $143,322,584 in the last ninety days. 28.09% of the stock is owned by company insiders.
Arista Networks Inc (ANET) traded down $1.52 during trading hours on Friday, reaching $273.48. The company’s stock had a trading volume of 760,346 shares, compared to its average volume of 739,062. The company has a quick ratio of 3.07, a current ratio of 3.66 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $19,990.00, a price-to-earnings ratio of 56.74, a price-to-earnings-growth ratio of 2.07 and a beta of 1.47. Arista Networks Inc has a 12-month low of $93.65 and a 12-month high of $284.76.
Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, November 2nd. The technology company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.04 by $0.33. Arista Networks had a return on equity of 24.76% and a net margin of 25.10%. equities research analysts forecast that Arista Networks Inc will post 4.63 earnings per share for the current fiscal year.
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Arista Networks 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.
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