Andra AP fonden decreased its position in Arista Networks Inc (NYSE:ANET) by 9.3% during the third quarter, HoldingsChannel reports. The firm owned 20,600 shares of the technology company’s stock after selling 2,100 shares during the quarter. Andra AP fonden’s holdings in Arista Networks were worth $5,477,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. OLD Mutual Customised Solutions Proprietary Ltd. bought a new position in Arista Networks during the 2nd quarter valued at about $129,000. Signet Financial Management LLC bought a new position in Arista Networks during the 2nd quarter valued at about $142,000. Cerebellum GP LLC bought a new position in Arista Networks during the 2nd quarter valued at about $159,000. NewSquare Capital LLC bought a new position in Arista Networks during the 2nd quarter valued at about $181,000. Finally, Hartford Investment Management Co. bought a new position in Arista Networks during the 2nd quarter valued at about $204,000. Institutional investors own 54.68% of the company’s stock.
Several equities analysts have issued reports on the stock. Morgan Stanley cut shares of Arista Networks from an “overweight” rating to an “equal weight” rating and set a $310.00 target price on the stock. in a research note on Tuesday, September 4th. UBS Group assumed coverage on shares of Arista Networks in a research note on Wednesday, September 26th. They set a “neutral” rating and a $290.00 target price on the stock. Loop Capital upped their target price on shares of Arista Networks to $260.00 and gave the company a “hold” rating in a research note on Friday, August 3rd. They noted that the move was a valuation call. DA Davidson upped their target price on shares of Arista Networks from $300.00 to $312.00 and gave the company a “buy” rating in a research note on Friday, August 3rd. Finally, William Blair restated an “outperform” rating on shares of Arista Networks in a research note on Monday, September 17th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $287.73.
NYSE ANET opened at $232.18 on Tuesday. The stock has a market cap of $17.19 billion, a PE ratio of 49.93, a price-to-earnings-growth ratio of 1.68 and a beta of 1.48. Arista Networks Inc has a 52 week low of $177.92 and a 52 week high of $313.37. The company has a quick ratio of 2.87, a current ratio of 3.17 and a debt-to-equity ratio of 0.02.
Arista Networks (NYSE:ANET) last released its earnings results on Thursday, August 2nd. The technology company reported $1.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.43. The company had revenue of $519.85 million during the quarter, compared to analyst estimates of $509.62 million. Arista Networks had a net margin of 28.07% and a return on equity of 28.51%. The firm’s quarterly revenue was up 28.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.34 EPS. Sell-side analysts forecast that Arista Networks Inc will post 6.43 EPS for the current fiscal 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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