Xact Kapitalforvaltning AB reduced its stake in Arista Networks Inc (NYSE:ANET) by 4.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 11,054 shares of the technology company’s stock after selling 568 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in Arista Networks were worth $2,822,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Three Peaks Capital Management LLC acquired a new stake in Arista Networks in the 1st quarter worth approximately $101,000. Group One Trading L.P. acquired a new position in shares of Arista Networks during the first quarter worth approximately $102,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Arista Networks during the fourth quarter worth approximately $100,000. Grimes & Company Inc. acquired a new position in shares of Arista Networks during the first quarter worth approximately $204,000. Finally, KCM Investment Advisors LLC acquired a new position in shares of Arista Networks during the first quarter worth approximately $208,000. Hedge funds and other institutional investors own 53.37% of the company’s stock.
In other news, SVP Marc Taxay sold 2,000 shares of the company’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $252.98, for a total transaction of $505,960.00. Following the transaction, the senior vice president now owns 13,884 shares of the company’s stock, valued at $3,512,374.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andreas Bechtolsheim sold 50,000 shares of the stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $278.48, for a total value of $13,924,000.00. Following the completion of the transaction, the insider now directly owns 8,438 shares in the company, valued at approximately $2,349,814.24. The disclosure for this sale can be found here. Insiders have sold 137,937 shares of company stock worth $37,825,355 in the last ninety days. 24.95% of the stock is currently owned by insiders.
Shares of ANET stock opened at $272.65 on Monday. The company has a current ratio of 5.20, a quick ratio of 4.61 and a debt-to-equity ratio of 0.02. The firm has a market cap of $20.28 billion, a PE ratio of 58.63, a price-to-earnings-growth ratio of 2.03 and a beta of 1.46. Arista Networks Inc has a 52 week low of $141.78 and a 52 week high of $311.67.
Arista Networks (NYSE:ANET) last announced its earnings results on Thursday, May 3rd. The technology company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.32 by $0.20. The company had revenue of $472.49 million for the quarter, compared to analysts’ expectations of $462.11 million. Arista Networks had a return on equity of 27.23% and a net margin of 27.19%. equities analysts predict that Arista Networks Inc will post 6.33 EPS for the current year.
A number of research analysts have recently commented on the company. Credit Suisse Group set a $303.00 price target on Arista Networks and gave the stock a “buy” rating in a report on Thursday, May 31st. ValuEngine lowered Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, May 31st. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Arista Networks in a report on Tuesday, May 8th. KeyCorp upped their price target on Arista Networks from $295.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, May 4th. Finally, Royal Bank of Canada cut their price target on Arista Networks to $280.00 and set an “outperform” rating for the company in a report on Friday, May 4th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $265.42.
Arista Networks 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.
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