Castleark Management LLC lessened its position in Arista Networks Inc (NYSE:ANET) by 30.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,010 shares of the technology company’s stock after selling 11,525 shares during the period. Castleark Management LLC’s holdings in Arista Networks were worth $6,127,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in ANET. Nationwide Fund Advisors grew its position in shares of Arista Networks by 79.3% in the 3rd quarter. Nationwide Fund Advisors now owns 9,017 shares of the technology company’s stock valued at $1,710,000 after acquiring an additional 3,989 shares during the period. Aperio Group LLC grew its position in shares of Arista Networks by 37.9% in the 3rd quarter. Aperio Group LLC now owns 3,479 shares of the technology company’s stock valued at $660,000 after acquiring an additional 956 shares during the period. Crossmark Global Holdings Inc. bought a new position in shares of Arista Networks in the 3rd quarter valued at about $261,000. BNP Paribas Arbitrage SA grew its position in shares of Arista Networks by 38.5% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 12,924 shares of the technology company’s stock valued at $2,451,000 after acquiring an additional 3,591 shares during the period. Finally, CIBC Asset Management Inc grew its position in shares of Arista Networks by 28.7% in the 3rd quarter. CIBC Asset Management Inc now owns 2,802 shares of the technology company’s stock valued at $531,000 after acquiring an additional 624 shares during the period. 56.47% of the stock is owned by institutional investors.
ANET has been the subject of several research analyst reports. Vetr downgraded shares of Arista Networks from a “strong-buy” rating to a “buy” rating and set a $321.08 target price for the company. in a report on Tuesday, March 6th. Citigroup lifted their target price on shares of Arista Networks to $250.00 and gave the stock a “buy” rating in a report on Friday, December 1st. Zacks Investment Research raised shares of Arista Networks from a “hold” rating to a “buy” rating and set a $267.00 target price for the company in a report on Thursday, February 22nd. KeyCorp reaffirmed an “overweight” rating and set a $240.00 target price (up previously from $213.00) on shares of Arista Networks in a report on Thursday, December 14th. Finally, JMP Securities lifted their target price on shares of Arista Networks from $230.00 to $315.00 and gave the stock a “market perform” rating in a report on Friday, January 26th. Fourteen research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $250.39.
Shares of Arista Networks stock opened at $293.72 on Monday. The stock has a market cap of $21,698.68, a PE ratio of 62.36, a price-to-earnings-growth ratio of 2.13 and a beta of 1.46. The company has a quick ratio of 3.70, a current ratio of 4.28 and a debt-to-equity ratio of 0.02. Arista Networks Inc has a twelve month low of $126.80 and a twelve month high of $311.67.
Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, February 15th. The technology company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.39 by $0.32. The company had revenue of $467.90 million during the quarter, compared to analysts’ expectations of $463.82 million. Arista Networks had a net margin of 25.71% and a return on equity of 25.86%. The business’s revenue for the quarter was up 42.7% compared to the same quarter last year. During the same period in the previous year, the company 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, SVP Kenneth Duda sold 127,576 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $235.15, for a total value of $29,999,496.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Marc Taxay sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $235.58, for a total transaction of $471,160.00. Following the completion of the transaction, the senior vice president now owns 13,460 shares of the company’s stock, valued at $3,170,906.80. The disclosure for this sale can be found here. Insiders sold a total of 225,742 shares of company stock valued at $56,033,731 over the last 90 days. Corporate 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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