GSA Capital Partners LLP purchased a new stake in Arista Networks Inc. (NYSE:ANET) during the second quarter, Holdings Channel reports. The firm purchased 4,286 shares of the company’s stock, valued at approximately $276,000.
A number of other large investors have also recently made changes to their positions in ANET. Jackson Square Partners LLC raised its stake in Arista Networks by 6.5% in the first quarter. Jackson Square Partners LLC now owns 998,160 shares of the company’s stock worth $62,983,000 after buying an additional 60,685 shares during the period. State Street Corp raised its stake in Arista Networks by 5.5% in the first quarter. State Street Corp now owns 635,968 shares of the company’s stock worth $40,130,000 after buying an additional 32,964 shares during the period. Gilder Gagnon Howe & Co. LLC raised its stake in Arista Networks by 718.3% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 337,428 shares of the company’s stock worth $21,724,000 after buying an additional 296,193 shares during the period. Henderson Group PLC bought a new stake in Arista Networks during the second quarter worth about $20,274,000. Finally, Mckinley Capital Management LLC Delaware raised its stake in Arista Networks by 72.5% in the first quarter. Mckinley Capital Management LLC Delaware now owns 311,842 shares of the company’s stock worth $19,677,000 after buying an additional 131,061 shares during the period. Institutional investors own 52.69% of the company’s stock.
Shares of Arista Networks Inc. (NYSE:ANET) traded down 0.49% during trading on Wednesday, hitting $85.90. The stock had a trading volume of 312,632 shares. Arista Networks Inc. has a 52 week low of $52.51 and a 52 week high of $86.35. The stock’s 50 day moving average is $80.26 and its 200 day moving average is $70.63. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of 42.74 and a beta of 1.14.
Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.06. The company had revenue of $268.70 million for the quarter, compared to the consensus estimate of $262.98 million. Arista Networks had a return on equity of 20.45% and a net margin of 15.03%. The company’s quarterly revenue was up 37.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.54 earnings per share. On average, equities research analysts expect that Arista Networks Inc. will post $2.93 earnings per share for the current fiscal year.
A number of research analysts recently commented on the company. MKM Partners downgraded Arista Networks from a “buy” rating to a “neutral” rating and reduced their price target for the company from $81.00 to $79.00 in a report on Monday, September 19th. Deutsche Bank AG increased their price target on Arista Networks from $80.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, September 14th. Royal Bank Of Canada increased their price target on Arista Networks from $70.00 to $80.00 and gave the company a “sector perform” rating in a report on Wednesday, August 31st. RBC Capital Markets reissued a “hold” rating and issued a $80.00 price target (up previously from $70.00) on shares of Arista Networks in a report on Wednesday, August 31st. Finally, Citigroup Inc. increased their price target on Arista Networks from $62.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, August 26th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the stock. Arista Networks presently has a consensus rating of “Hold” and an average target price of $78.79.
In other news, insider Jayshree Ullal sold 105,847 shares of the business’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $79.85, for a total value of $8,451,882.95. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Mark Stephen Smith sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $70.04, for a total value of $350,200.00. Following the completion of the transaction, the vice president now directly owns 1,244 shares in the company, valued at $87,129.76. The disclosure for this sale can be found here. Company insiders own 32.39% of the company’s stock.
About Arista Networks
Arista Networks, Inc is a supplier of cloud networking solutions that address the needs of Internet companies, cloud service providers and next-generation data centers for enterprises. The Company’s cloud networking solutions consist of its Extensible Operating System (EOS), which is a set of network applications and its 10/25/40/50/100 Gigabit Ethernet switches.
Want to see what other hedge funds are holding ANET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arista Networks Inc. (NYSE:ANET).
Receive News & Ratings for Arista Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.