K.J. Harrison & Partners Inc maintained its position in Arista Networks Inc. (NYSE:ANET) during the second quarter, Holdings Channel reports. The fund owned 7,500 shares of the company’s stock at the end of the second quarter. K.J. Harrison & Partners Inc’s holdings in Arista Networks were worth $483,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in ANET. Geode Capital Management LLC raised its position in Arista Networks by 13.1% in the first quarter. Geode Capital Management LLC now owns 232,489 shares of the company’s stock valued at $14,669,000 after buying an additional 26,949 shares in the last quarter. AXA raised its stake in shares of Arista Networks by 60.4% in the first quarter. AXA now owns 77,000 shares of the company’s stock valued at $4,859,000 after buying an additional 29,000 shares during the period. Primecap Management Co. CA raised its stake in shares of Arista Networks by 24.8% in the first quarter. Primecap Management Co. CA now owns 75,500 shares of the company’s stock valued at $4,764,000 after buying an additional 15,000 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Arista Networks during the first quarter valued at about $1,072,000. Finally, State Street Corp raised its stake in shares of Arista Networks by 5.5% in the first quarter. State Street Corp now owns 635,968 shares of the company’s stock valued at $40,130,000 after buying an additional 32,964 shares during the period. 52.69% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Arista Networks Inc. (NYSE:ANET) traded up 0.46% during mid-day trading on Friday, reaching $85.72. 705,637 shares of the company’s stock were exchanged. Arista Networks Inc. has a one year low of $52.51 and a one year high of $85.94. The stock has a 50-day moving average of $79.47 and a 200 day moving average of $70.17. The firm has a market capitalization of $5.94 billion, a P/E ratio of 42.65 and a beta of 1.14.
Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.06. Arista Networks had a net margin of 15.03% and a return on equity of 20.45%. The business had revenue of $268.70 million for the quarter, compared to analysts’ expectations of $262.98 million. During the same period last year, the business earned $0.54 earnings per share. The business’s quarterly revenue was up 37.4% on a year-over-year basis. On average, analysts forecast that Arista Networks Inc. will post $2.93 EPS for the current fiscal year.
Several equities research analysts recently issued reports on ANET shares. MKM Partners lowered shares of Arista Networks from a “buy” rating to a “neutral” rating and decreased their price target for the company from $81.00 to $79.00 in a report on Monday. Credit Suisse Group AG reaffirmed a “buy” rating and set a $90.00 price target on shares of Arista Networks in a report on Wednesday, August 24th. Deutsche Bank AG lifted their price target on shares of Arista Networks from $80.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, September 14th. Citigroup Inc. reaffirmed a “buy” rating on shares of Arista Networks in a report on Wednesday, June 22nd. Finally, Royal Bank Of Canada lifted their price target on shares of Arista Networks from $70.00 to $80.00 and gave the company a “sector perform” rating in a report on Wednesday, August 31st. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $78.79.
In other news, SVP Kenneth Duda sold 15,150 shares of the firm’s stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $67.64, for a total value of $1,024,746.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction of $4,541,715.30. 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.
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