Dimensional Fund Advisors LP Trims Position in Arista Networks Inc (ANET)

Dimensional Fund Advisors LP lessened its stake in shares of Arista Networks Inc (NYSE:ANET) by 2.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 205,474 shares of the technology company’s stock after selling 6,150 shares during the quarter. Dimensional Fund Advisors LP owned about 0.28% of Arista Networks worth $38,957,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its stake in Arista Networks by 20.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock worth $111,000 after purchasing an additional 126 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Arista Networks in the 3rd quarter worth about $151,000. D.A. Davidson & CO. raised its stake in Arista Networks by 3.2% in the 2nd quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock worth $147,000 after purchasing an additional 30 shares in the last quarter. Sigma Investment Counselors Inc. acquired a new stake in Arista Networks in the 3rd quarter worth about $228,000. Finally, Empirical Finance LLC acquired a new stake in Arista Networks in the 3rd quarter worth about $231,000. Institutional investors own 58.16% of the company’s stock.

Shares of Arista Networks Inc (ANET) traded down $1.52 during midday trading on Friday, hitting $273.48. 760,555 shares of the stock were exchanged, compared to its average volume of 739,062. The firm has a market cap of $19,990.00, a P/E ratio of 56.74, a P/E/G ratio of 2.12 and a beta of 1.47. Arista Networks Inc has a 1 year low of $93.69 and a 1 year high of $284.76. The company has a quick ratio of 3.07, a current ratio of 3.66 and a debt-to-equity ratio of 0.03.

Arista Networks (NYSE:ANET) last released its earnings results on Thursday, November 2nd. The technology company reported $1.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.33. Arista Networks had a net margin of 25.10% and a return on equity of 24.76%. sell-side analysts expect that Arista Networks Inc will post 4.63 earnings per share for the current year.

In other Arista Networks news, SVP Kenneth Duda sold 127,576 shares of the company’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $235.15, for a total transaction of $29,999,496.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Marc Taxay sold 2,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $275.31, for a total transaction of $550,620.00. Following the transaction, the senior vice president now owns 12,294 shares in the company, valued at approximately $3,384,661.14. The disclosure for this sale can be found here. Insiders have sold a total of 620,126 shares of company stock worth $143,322,584 in the last quarter. 28.09% of the stock is owned by corporate insiders.

Several equities analysts have recently commented on ANET shares. Oppenheimer boosted their target price on shares of Arista Networks from $200.00 to $270.00 and gave the company an “outperform” rating in a research report on Monday, January 8th. BidaskClub upgraded shares of Arista Networks from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 31st. Citigroup restated a “buy” rating and issued a $275.00 target price on shares of Arista Networks in a research report on Monday, December 18th. They noted that the move was a valuation call. Royal Bank of Canada upgraded shares of Arista Networks from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, November 8th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $270.00 target price on shares of Arista Networks in a research report on Thursday, December 14th. Sixteen research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Arista Networks currently has an average rating of “Buy” and an average target price of $216.59.

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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.

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

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