First Republic Investment Management Inc. increased its holdings in shares of Arista Networks Inc (NYSE:ANET) by 388.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 33,440 shares of the technology company’s stock after purchasing an additional 26,595 shares during the period. First Republic Investment Management Inc.’s holdings in Arista Networks were worth $7,879,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of ANET. Sapphire Star Partners LP raised its holdings in Arista Networks by 56.9% in the 3rd quarter. Sapphire Star Partners LP now owns 3,452 shares of the technology company’s stock valued at $654,000 after acquiring an additional 1,252 shares in the last quarter. Strs Ohio raised its holdings in Arista Networks by 28.9% in the 4th quarter. Strs Ohio now owns 78,103 shares of the technology company’s stock valued at $18,399,000 after acquiring an additional 17,500 shares in the last quarter. KBC Group NV raised its holdings in Arista Networks by 341.5% in the 4th quarter. KBC Group NV now owns 14,983 shares of the technology company’s stock valued at $3,530,000 after acquiring an additional 11,589 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Arista Networks by 8.0% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 142,562 shares of the technology company’s stock valued at $27,031,000 after acquiring an additional 10,593 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund acquired a new position in Arista Networks in the 3rd quarter valued at approximately $2,785,000. 57.18% of the stock is owned by institutional investors and hedge funds.
Several research firms have commented on ANET. UBS Group upped their price target on Arista Networks from $165.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Morgan Stanley upped their price target on Arista Networks from $210.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, December 21st. Zacks Investment Research cut Arista Networks from a “buy” rating to a “hold” rating in a report on Wednesday, February 7th. BidaskClub raised Arista Networks from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 31st. Finally, Loop Capital began coverage on Arista Networks in a report on Monday, January 29th. They issued a “hold” rating and a $250.00 price target for the company. Fourteen equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Arista Networks has an average rating of “Buy” and a consensus price target of $246.20.
In related news, SVP Marc Taxay sold 2,000 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $230.09, for a total transaction of $460,180.00. Following the sale, the senior vice president now directly owns 12,335 shares in the company, valued at approximately $2,838,160.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Anshul Sadana sold 24,000 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $256.25, for a total value of $6,150,000.00. Following the sale, the insider now owns 80,972 shares in the company, valued at $20,749,075. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 178,753 shares of company stock worth $42,749,578. 28.09% of the stock is owned by corporate insiders.
Shares of Arista Networks Inc (ANET) opened at $245.92 on Friday. The company has a market capitalization of $18,167.34, a P/E ratio of 46.05, a P/E/G ratio of 1.74 and a beta of 1.47. Arista Networks Inc has a 12-month low of $115.86 and a 12-month high of $311.67. The company has a current ratio of 4.28, a quick ratio of 3.07 and a debt-to-equity ratio of 0.02.
Arista Networks (NYSE:ANET) last released its quarterly 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 business had revenue of $467.90 million for 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%. Arista Networks’s revenue for the quarter was up 42.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.04 EPS. analysts anticipate that Arista Networks Inc will post 6.01 earnings per share for the current year.
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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