Group One Trading L.P. purchased a new stake in Arista Networks Inc (NYSE:ANET) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 400 shares of the technology company’s stock, valued at approximately $102,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Strs Ohio grew its stake in shares of 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 buying an additional 17,500 shares in the last quarter. KBC Group NV grew its stake in shares of 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 buying an additional 11,589 shares in the last quarter. C M Bidwell & Associates Ltd. grew its stake in shares of Arista Networks by 78.4% in the 4th quarter. C M Bidwell & Associates Ltd. now owns 3,880 shares of the technology company’s stock valued at $914,000 after buying an additional 1,705 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Arista Networks in the 4th quarter valued at approximately $918,000. Finally, Penserra Capital Management LLC grew its stake in shares of Arista Networks by 170.6% in the 4th quarter. Penserra Capital Management LLC now owns 41,986 shares of the technology company’s stock valued at $9,891,000 after buying an additional 26,470 shares in the last quarter. 53.29% of the stock is owned by institutional investors and hedge funds.
In related news, Director Nikos Theodosopoulos sold 110 shares of the company’s stock in a transaction on Monday, May 21st. The stock was sold at an average price of $250.27, for a total value of $27,529.70. Following the completion of the transaction, the director now directly owns 1,746 shares in the company, valued at $436,971.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John F. Mccool sold 5,026 shares of the company’s stock in a transaction on Wednesday, May 23rd. The shares were sold at an average price of $251.39, for a total value of $1,263,486.14. The disclosure for this sale can be found here. Insiders sold 76,125 shares of company stock valued at $20,654,914 over the last 90 days. 24.95% of the stock is currently owned by corporate insiders.
Several equities research analysts recently weighed in on the company. Nomura boosted their target price on Arista Networks from $185.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, February 20th. Vetr upgraded Arista Networks from a “buy” rating to a “strong-buy” rating and set a $327.46 target price for the company in a report on Monday, March 19th. Zacks Investment Research lowered Arista Networks from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. Deutsche Bank restated a “sell” rating and issued a $180.00 target price (down from $195.00) on shares of Arista Networks in a report on Friday, May 4th. Finally, Oppenheimer boosted their target price on Arista Networks from $300.00 to $330.00 and gave the stock an “outperform” rating in a report on Friday, March 16th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $262.01.
Shares of NYSE ANET opened at $255.75 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.20 and a quick ratio of 4.61. The firm has a market capitalization of $19.03 billion, a P/E ratio of 55.00, a PEG ratio of 1.93 and a beta of 1.50. Arista Networks Inc has a one year low of $141.78 and a one year high of $311.67.
Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, May 3rd. The technology company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.20. The business had revenue of $472.49 million during the quarter, compared to analyst estimates of $462.11 million. Arista Networks had a return on equity of 27.23% and a net margin of 27.19%. equities analysts anticipate that Arista Networks Inc will post 6.33 EPS for the current year.
About Arista Networks
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.
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