Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Arista Networks (NYSE:ANET) by 20.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,211 shares of the technology company’s stock after acquiring an additional 2,075 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Arista Networks were worth $3,117,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Compagnie Lombard Odier SCmA bought a new position in shares of Arista Networks in the fourth quarter valued at about $100,000. Bronfman E.L. Rothschild L.P. raised its holdings 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 valued at $114,000 after buying an additional 301 shares during the last quarter. TRUE Private Wealth Advisors bought a new position in shares of Arista Networks in the fourth quarter valued at about $210,000. CrestPoint Capital Management LLC bought a new position in shares of Arista Networks in the fourth quarter valued at about $212,000. Finally, Northstar Asset Management LLC bought a new position in shares of Arista Networks in the fourth quarter valued at about $212,000. 55.95% of the stock is owned by institutional investors.
In other news, SVP Marc Taxay sold 2,000 shares of Arista Networks stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $267.63, for a total transaction of $535,260.00. Following the transaction, the senior vice president now owns 14,884 shares in the company, valued at approximately $3,983,404.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jayshree Ullal sold 300 shares of Arista Networks stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $297.78, for a total value of $89,334.00. Following the transaction, the chief executive officer now owns 5,900 shares in the company, valued at approximately $1,756,902. The disclosure for this sale can be found here. Insiders have sold a total of 88,666 shares of company stock worth $23,677,125 in the last quarter. 24.95% of the stock is currently owned by company insiders.
Arista Networks stock opened at $253.52 on Tuesday. The stock has a market cap of $19.33 billion, a PE ratio of 54.52, a P/E/G ratio of 1.97 and a beta of 1.50. Arista Networks has a 1 year low of $252.72 and a 1 year high of $260.51. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.20 and a quick ratio of 4.61.
Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, May 3rd. The technology company reported $1.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.20. The company had revenue of $472.49 million during the quarter, compared to analyst estimates of $462.11 million. Arista Networks had a return on equity of 27.23% and a net margin of 27.19%. equities analysts forecast that Arista Networks will post 6.25 EPS for the current year.
ANET has been the subject of a number of research analyst reports. Citigroup lifted their price target on Arista Networks from $275.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Goldman Sachs initiated coverage on Arista Networks in a report on Wednesday, February 7th. They issued a “buy” rating and a $320.00 price target for the company. DA Davidson set a $300.00 price target on Arista Networks and gave the company a “buy” rating in a report on Friday, February 16th. Needham & Company LLC lifted their price objective on Arista Networks from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Finally, Zacks Investment Research upgraded Arista Networks from a “hold” rating to a “buy” rating and set a $319.00 price objective for the company in a research report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $262.01.
Arista Networks Company 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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