Arista Networks (NYSE:ANET) Shares Sold by Chicago Equity Partners LLC

Chicago Equity Partners LLC lessened its stake in Arista Networks (NYSE:ANET) by 25.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,972 shares of the technology company’s stock after selling 12,613 shares during the quarter. Chicago Equity Partners LLC’s holdings in Arista Networks were worth $9,439,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. boosted its holdings in shares of Arista Networks by 7.9% in the fourth quarter. Oppenheimer & Co. Inc. now owns 2,646 shares of the technology company’s stock valued at $623,000 after buying an additional 193 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of Arista Networks by 10.4% in the fourth quarter. CIBC Asset Management Inc now owns 3,094 shares of the technology company’s stock valued at $729,000 after buying an additional 292 shares during the period. Bronfman E.L. Rothschild L.P. boosted 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 period. D.A. Davidson & CO. boosted its holdings in shares of Arista Networks by 35.4% in the first quarter. D.A. Davidson & CO. now owns 1,368 shares of the technology company’s stock valued at $349,000 after buying an additional 358 shares during the period. Finally, Private Wealth Partners LLC boosted its holdings in shares of Arista Networks by 5.1% in the fourth quarter. Private Wealth Partners LLC now owns 7,651 shares of the technology company’s stock valued at $1,802,000 after buying an additional 373 shares during the period. Institutional investors own 55.95% of the company’s stock.

Shares of Arista Networks opened at $247.47 on Friday, according to Marketbeat Ratings. The stock has a market capitalization of $18.53 billion, a PE ratio of 45.80, a P/E/G ratio of 1.88 and a beta of 1.50. Arista Networks has a fifty-two week low of $246.76 and a fifty-two week high of $250.23. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.61 and a current ratio of 5.20.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, May 3rd. The technology company reported $1.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.20. The company had revenue of $472.49 million for the quarter, compared to analyst estimates of $462.11 million. Arista Networks had a net margin of 27.19% and a return on equity of 27.23%. equities research analysts anticipate that Arista Networks will post 6.25 EPS for the current fiscal year.

In related news, Director Ann Mather sold 433 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $245.37, for a total value of $106,245.21. Following the transaction, the director now directly owns 5,833 shares in the company, valued at $1,431,243.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jayshree Ullal sold 800 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $248.24, for a total transaction of $198,592.00. Following the completion of the transaction, the chief executive officer now owns 6,613 shares in the company, valued at $1,641,611.12. The disclosure for this sale can be found here. Insiders sold 88,666 shares of company stock worth $23,677,125 over the last three months. Insiders own 24.95% of the company’s stock.

A number of brokerages have recently commented on ANET. Deutsche Bank lowered shares of Arista Networks from a “hold” rating to a “sell” rating in a research report on Monday, March 19th. Zacks Investment Research raised shares of Arista Networks from a “sell” rating to a “hold” rating in a research report on Tuesday, May 1st. Vetr lowered shares of Arista Networks from a “strong-buy” rating to a “buy” rating and set a $321.08 price objective on the stock. in a research report on Tuesday, March 6th. JMP Securities boosted their price objective on shares of Arista Networks from $230.00 to $315.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. Finally, Citigroup boosted their price objective on shares of Arista Networks from $275.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus 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.

Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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