Flinton Capital Management LLC raised its position in Arista Networks Inc (NYSE:ANET) by 85.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,704 shares of the technology company’s stock after acquiring an additional 5,856 shares during the quarter. Flinton Capital Management LLC’s holdings in Arista Networks were worth $2,993,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. raised its stake in shares of Arista Networks by 164.5% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 484 shares of the technology company’s stock worth $114,000 after buying an additional 301 shares during the period. Fieldpoint Private Securities LLC bought a new position in shares of Arista Networks in the third quarter worth about $130,000. TRUE Private Wealth Advisors bought a new position in shares of Arista Networks in the fourth quarter worth about $210,000. CrestPoint Capital Management LLC bought a new position in shares of Arista Networks in the fourth quarter worth about $212,000. Finally, Northstar Asset Management LLC bought a new position in shares of Arista Networks in the fourth quarter worth about $212,000. 56.52% of the stock is currently owned by institutional investors.
Several research analysts have recently commented on ANET shares. Vetr downgraded Arista Networks from a “strong-buy” rating to a “buy” rating and set a $321.08 price objective on the stock. in a research note on Tuesday, March 6th. Citigroup raised their price objective on Arista Networks to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research raised Arista Networks from a “hold” rating to a “buy” rating and set a $267.00 price objective on the stock in a research note on Thursday, February 22nd. KeyCorp reaffirmed an “overweight” rating and issued a $240.00 price objective (up previously from $213.00) on shares of Arista Networks in a research note on Thursday, December 14th. Finally, JMP Securities raised their price objective on Arista Networks from $230.00 to $315.00 and gave the stock a “market perform” rating in a research note on Friday, January 26th. Fourteen investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $249.42.
Arista Networks Inc (ANET) opened at $295.90 on Friday. The firm has a market capitalization of $22,051.80, a P/E ratio of 55.41, a price-to-earnings-growth ratio of 2.16 and a beta of 1.46. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.70 and a current ratio of 4.28. Arista Networks Inc has a 1-year low of $126.80 and a 1-year high of $311.67.
Arista Networks (NYSE:ANET) last announced its earnings results on Thursday, February 15th. The technology company reported $1.71 EPS for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.32. The firm had revenue of $467.90 million during the quarter, compared to analysts’ expectations of $463.82 million. Arista Networks had a return on equity of 25.86% and a net margin of 25.71%. The company’s quarterly revenue was up 42.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.04 EPS. equities research analysts expect that Arista Networks Inc will post 6.01 earnings per share for the current fiscal year.
In other news, CEO Jayshree Ullal sold 300 shares of Arista Networks stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $297.78, for a total value of $89,334.00. Following the completion of the transaction, the chief executive officer now owns 5,900 shares in the company, valued at approximately $1,756,902. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Kenneth Duda sold 127,576 shares of Arista Networks stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $235.15, for a total value of $29,999,496.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 225,742 shares of company stock valued at $56,033,731. Company insiders own 28.09% of the company’s stock.
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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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