Flinton Capital Management LLC increased its stake in Arista Networks (NYSE:ANET) by 85.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 12,704 shares of the technology company’s stock after purchasing 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 reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of ANET. Bronfman E.L. Rothschild L.P. grew its position in 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 valued at $114,000 after acquiring an additional 301 shares during the period. Fieldpoint Private Securities LLC acquired a new position in Arista Networks in the third quarter worth $130,000. TRUE Private Wealth Advisors acquired a new position in shares of Arista Networks during the fourth quarter valued at $210,000. CrestPoint Capital Management LLC acquired a new position in shares of Arista Networks during the fourth quarter valued at $212,000. Finally, Northstar Asset Management LLC acquired a new position in shares of Arista Networks during the fourth quarter valued at $212,000. 56.48% of the stock is currently owned by institutional investors.
In related news, Director Ann Mather sold 433 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $245.37, for a total value of $106,245.21. Following the transaction, the director now owns 5,833 shares in the company, valued at $1,431,243.21. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jayshree Ullal sold 4,933 shares of the company’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $299.39, for a total value of $1,476,890.87. Following the completion of the transaction, the insider now owns 5,900 shares in the company, valued at approximately $1,766,401. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 98,166 shares of company stock valued at $26,069,035. 28.09% of the stock is currently owned by corporate insiders.
Arista Networks stock traded down $4.02 during midday trading on Friday, reaching $258.72. The stock had a trading volume of 827,065 shares, compared to its average volume of 1,086,327. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.28 and a quick ratio of 3.70. The firm has a market capitalization of $19,410.02, a price-to-earnings ratio of 55.64, a PEG ratio of 1.91 and a beta of 1.50. Arista Networks has a 12 month low of $130.09 and a 12 month high of $311.67.
Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, February 15th. The technology company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.32. The firm had revenue of $467.90 million during the quarter, compared to analyst estimates of $463.82 million. Arista Networks had a return on equity of 25.86% and a net margin of 25.71%. The company’s revenue for the quarter was up 42.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.04 EPS. sell-side analysts expect that Arista Networks will post 5.99 EPS for the current year.
ANET has been the topic of several analyst reports. Nomura increased their target price on Arista Networks from $185.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, February 20th. Vetr upgraded Arista Networks from a “buy” rating to a “strong-buy” rating and set a $327.46 price target for the company in a report on Monday, March 19th. Citigroup increased their price target on Arista Networks from $275.00 to $315.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Zacks Investment Research downgraded Arista Networks from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. Finally, Morgan Stanley increased their price objective on Arista Networks from $210.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, December 21st. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $250.60.
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Arista Networks Profile
Arista Networks, Inc provides cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of its extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.
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