Northwestern Mutual Investment Management Company LLC Purchases 66 Shares of Arista Networks Inc (NYSE:ANET)

Northwestern Mutual Investment Management Company LLC boosted its position in Arista Networks Inc (NYSE:ANET) by 3.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,072 shares of the technology company’s stock after buying an additional 66 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Arista Networks were worth $495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Swedbank lifted its position in shares of Arista Networks by 56.2% during the 2nd quarter. Swedbank now owns 757,942 shares of the technology company’s stock valued at $196,777,000 after acquiring an additional 272,722 shares during the period. Retirement Systems of Alabama lifted its position in shares of Arista Networks by 1.3% during the 2nd quarter. Retirement Systems of Alabama now owns 24,653 shares of the technology company’s stock valued at $6,400,000 after acquiring an additional 320 shares during the period. Valeo Financial Advisors LLC lifted its position in shares of Arista Networks by 24.2% during the 2nd quarter. Valeo Financial Advisors LLC now owns 190 shares of the technology company’s stock valued at $49,000 after acquiring an additional 37 shares during the period. Argus Investors Counsel Inc. lifted its position in shares of Arista Networks by 97.0% during the 2nd quarter. Argus Investors Counsel Inc. now owns 2,984 shares of the technology company’s stock valued at $775,000 after acquiring an additional 1,469 shares during the period. Finally, Campbell & CO Investment Adviser LLC lifted its position in shares of Arista Networks by 5.9% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 1,445 shares of the technology company’s stock valued at $375,000 after acquiring an additional 80 shares during the period. Institutional investors and hedge funds own 59.05% of the company’s stock.

In other Arista Networks news, SVP Kenneth Duda sold 10,874 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $191.71, for a total value of $2,084,654.54. Following the completion of the transaction, the senior vice president now owns 2,979 shares of the company’s stock, valued at approximately $571,104.09. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Marc Taxay sold 2,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $181.52, for a total value of $363,040.00. Following the completion of the transaction, the senior vice president now directly owns 11,396 shares of the company’s stock, valued at approximately $2,068,601.92. The disclosure for this sale can be found here. Insiders have sold a total of 39,984 shares of company stock valued at $8,699,464 in the last three months. 23.83% of the stock is owned by insiders.

Arista Networks stock opened at $192.62 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.47 and a current ratio of 5.91. Arista Networks Inc has a 52 week low of $173.31 and a 52 week high of $331.27. The stock has a market capitalization of $14.56 billion, a P/E ratio of 27.24, a price-to-earnings-growth ratio of 1.46 and a beta of 1.60. The stock has a fifty day moving average of $224.69 and a 200-day moving average of $245.32.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $2.69 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.50. Arista Networks had a return on equity of 28.94% and a net margin of 32.68%. The company had revenue of $654.40 million during the quarter, compared to analysts’ expectations of $653.26 million. During the same quarter in the previous year, the firm earned $2.11 EPS. Arista Networks’s revenue was up 16.2% on a year-over-year basis. On average, research analysts forecast that Arista Networks Inc will post 8.54 earnings per share for the current year.

A number of analysts have recently weighed in on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $210.00 target price on shares of Arista Networks in a research report on Wednesday. JPMorgan Chase & Co. downgraded Arista Networks from a “neutral” rating to an “underweight” rating and cut their target price for the company from $290.00 to $180.00 in a research report on Friday, November 1st. Needham & Company LLC downgraded Arista Networks from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Deutsche Bank cut their target price on Arista Networks from $230.00 to $180.00 and set a “hold” rating for the company in a research report on Friday, November 1st. Finally, Rosenblatt Securities cut their target price on Arista Networks from $260.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating to the company. Arista Networks presently has a consensus rating of “Hold” and a consensus price target of $226.12.

Arista Networks Profile

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of 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.

Read More: Is the QQQ ETF safe?

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).

Institutional Ownership by Quarter for Arista Networks (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.