Macquarie Group Ltd. cut its stake in shares of Arista Networks Inc (NYSE:ANET) by 7.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 637,234 shares of the technology company’s stock after selling 52,705 shares during the period. Macquarie Group Ltd. owned about 0.84% of Arista Networks worth $134,265,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC lifted its stake in Arista Networks by 457.5% in the third quarter. SG Americas Securities LLC now owns 11,936 shares of the technology company’s stock valued at $3,173,000 after acquiring an additional 9,795 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Arista Networks by 0.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,186,513 shares of the technology company’s stock valued at $315,445,000 after purchasing an additional 9,105 shares during the last quarter. Prudential Financial Inc. raised its stake in Arista Networks by 1,172.1% during the 3rd quarter. Prudential Financial Inc. now owns 109,288 shares of the technology company’s stock valued at $29,055,000 after purchasing an additional 100,697 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Arista Networks during the 3rd quarter valued at $1,126,000. Finally, Crossmark Global Holdings Inc. raised its stake in Arista Networks by 579.5% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 7,583 shares of the technology company’s stock valued at $2,016,000 after purchasing an additional 6,467 shares during the last quarter. 56.32% of the stock is currently owned by hedge funds and other institutional investors.
ANET has been the subject of several research analyst reports. Bank of America upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and set a $300.00 target price for the company in a research note on Thursday, December 6th. Wolfe Research initiated coverage on shares of Arista Networks in a report on Tuesday, December 11th. They issued an “underperform” rating on the stock. Zacks Investment Research lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, January 3rd. Morgan Stanley raised shares of Arista Networks from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $290.00 to $250.00 in a report on Monday, January 7th. Finally, Nomura raised shares of Arista Networks from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a report on Friday, January 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $298.23.
Arista Networks (NYSE:ANET) last released its earnings results on Thursday, February 14th. The technology company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.80 by $0.45. Arista Networks had a net margin of 29.47% and a return on equity of 29.37%. The company had revenue of $595.70 million for the quarter, compared to the consensus estimate of $591.41 million. During the same period in the prior year, the company posted $1.71 EPS. The company’s revenue was up 27.3% compared to the same quarter last year. As a group, equities analysts predict that Arista Networks Inc will post 8.24 earnings per share for the current fiscal year.
In related news, SVP Manuel Felix Rivelo sold 702 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $300.00, for a total value of $210,600.00. Following the sale, the senior vice president now directly owns 270 shares in the company, valued at approximately $81,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jayshree Ullal sold 27,250 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $299.55, for a total transaction of $8,162,737.50. Following the completion of the sale, the insider now owns 10,425 shares in the company, valued at $3,122,808.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 186,224 shares of company stock worth $51,945,049. Corporate insiders own 24.95% of the company’s stock.
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.
Featured Story: Purposes and Functions of the Federal Reserve
Want to see what other hedge funds are holding ANET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arista Networks Inc (NYSE:ANET).
Receive News & Ratings for Arista Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks and related companies with MarketBeat.com's FREE daily email newsletter.