Vanguard Group Inc. raised its stake in shares of Arista Networks Inc. (NYSE:ANET) by 10.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,832,779 shares of the company’s stock after buying an additional 273,119 shares during the period. Vanguard Group Inc. owned about 4.15% of Arista Networks worth $182,373,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Quantbot Technologies LP purchased a new stake in shares of Arista Networks during the second quarter worth about $136,000. Seven Eight Capital LLC purchased a new stake in shares of Arista Networks during the first quarter worth about $150,000. Bank of Montreal Can purchased a new stake in shares of Arista Networks during the second quarter worth about $213,000. BlackRock Inc. boosted its stake in shares of Arista Networks by 315.7% in the first quarter. BlackRock Inc. now owns 3,999 shares of the company’s stock worth $252,000 after buying an additional 3,037 shares during the last quarter. Finally, IBM Retirement Fund boosted its stake in shares of Arista Networks by 15.6% in the second quarter. IBM Retirement Fund now owns 3,939 shares of the company’s stock worth $254,000 after buying an additional 531 shares during the last quarter. Institutional investors own 52.74% of the company’s stock.
Arista Networks Inc. (NYSE:ANET) opened at 80.86 on Wednesday. The company has a market cap of $5.60 billion, a PE ratio of 40.23 and a beta of 1.12. Arista Networks Inc. has a 1-year low of $52.51 and a 1-year high of $87.62. The stock has a 50 day moving average price of $82.98 and a 200 day moving average price of $73.15.
Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.06. Arista Networks had a return on equity of 20.45% and a net margin of 15.03%. The company earned $268.70 million during the quarter, compared to the consensus estimate of $262.98 million. During the same quarter last year, the company earned $0.54 EPS. The company’s quarterly revenue was up 37.4% on a year-over-year basis. Equities analysts forecast that Arista Networks Inc. will post $2.93 earnings per share for the current year.
Several equities analysts recently commented on ANET shares. Citigroup Inc. reissued a “buy” rating on shares of Arista Networks in a research report on Wednesday, June 22nd. Bank of America Corp. lowered Arista Networks from a “buy” rating to an “underperform” rating and set a $65.00 price target on the stock. in a research report on Monday, June 27th. Deutsche Bank AG reissued a “buy” rating on shares of Arista Networks in a research report on Sunday, June 26th. Needham & Company LLC reissued a “buy” rating on shares of Arista Networks in a research report on Sunday, June 26th. Finally, Zacks Investment Research lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 6th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $78.31.
In other Arista Networks news, SVP Kenneth Duda sold 11,746 shares of the firm’s stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $86.53, for a total value of $1,016,381.38. Following the completion of the sale, the senior vice president now owns 420 shares in the company, valued at approximately $36,342.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jayshree Ullal sold 56,279 shares of the firm’s stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $80.70, for a total value of $4,541,715.30. The disclosure for this sale can be found here. 32.39% of the stock is owned by company insiders.
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.
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