D.A. Davidson & CO. boosted its holdings in Arista Networks (NYSE:ANET) by 35.4% in the first quarter, HoldingsChannel reports. The firm owned 1,368 shares of the technology company’s stock after buying an additional 358 shares during the quarter. D.A. Davidson & CO.’s holdings in Arista Networks were worth $349,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Compagnie Lombard Odier SCmA acquired a new stake in shares of Arista Networks in the fourth quarter valued at approximately $100,000. 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 acquiring an additional 301 shares during the period. TRUE Private Wealth Advisors acquired a new stake in shares of Arista Networks in the fourth quarter valued at approximately $210,000. Northstar Asset Management LLC acquired a new stake in shares of Arista Networks in the fourth quarter valued at approximately $212,000. Finally, Shelton Capital Management acquired a new stake in shares of Arista Networks in the fourth quarter valued at approximately $212,000. 55.95% of the stock is owned by hedge funds and other institutional investors.
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In other news, insider Anshul Sadana sold 16,444 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $243.76, for a total value of $4,008,389.44. Following the completion of the transaction, the insider now owns 58,397 shares in the company, valued at $14,234,852.72. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Marc Taxay sold 2,000 shares of the firm’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $267.63, for a total value of $535,260.00. Following the completion of the transaction, the senior vice president now owns 14,884 shares of the company’s stock, valued at approximately $3,983,404.92. The disclosure for this sale can be found here. Insiders sold 88,666 shares of company stock valued at $23,677,125 in the last quarter. 24.95% of the stock is currently owned by company insiders.
ANET has been the subject of several research analyst reports. Citigroup increased their price objective on Arista Networks from $275.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Goldman Sachs initiated coverage on Arista Networks in a report on Wednesday, February 7th. They issued a “buy” rating and a $320.00 price objective for the company. DA Davidson set a $300.00 price objective on Arista Networks and gave the company a “buy” rating in a report on Friday, February 16th. Needham & Company LLC increased their price objective on Arista Networks from $300.00 to $315.00 and gave the company a “buy” rating in a report on Friday, February 16th. Finally, Zacks Investment Research upgraded Arista Networks from a “hold” rating to a “buy” rating and set a $319.00 price target for the company in a research note on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $262.01.
Arista Networks opened at $248.09 on Friday, MarketBeat Ratings reports. The firm has a market capitalization of $18.46 billion, a price-to-earnings ratio of 45.60, a price-to-earnings-growth ratio of 1.88 and a beta of 1.50. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.20 and a quick ratio of 4.61. Arista Networks has a 1 year low of $141.05 and a 1 year high of $311.67.
Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, May 3rd. The technology company reported $1.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.20. The firm had revenue of $472.49 million during 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%. sell-side analysts anticipate that Arista Networks will post 6.25 EPS for the current year.
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.
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