Arista Networks Inc (NYSE:ANET) Holdings Reduced by Everence Capital Management Inc.

Everence Capital Management Inc. decreased its position in Arista Networks Inc (NYSE:ANET) by 40.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,860 shares of the technology company’s stock after selling 1,260 shares during the period. Everence Capital Management Inc.’s holdings in Arista Networks were worth $444,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. North Star Investment Management Corp. bought a new position in shares of Arista Networks in the third quarter valued at approximately $72,000. State of Alaska Department of Revenue boosted its holdings in shares of Arista Networks by 47.6% in the third quarter. State of Alaska Department of Revenue now owns 17,173 shares of the technology company’s stock valued at $4,102,000 after acquiring an additional 5,539 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Arista Networks by 61.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 24,284 shares of the technology company’s stock valued at $6,305,000 after acquiring an additional 9,219 shares in the last quarter. Rehmann Capital Advisory Group boosted its holdings in shares of Arista Networks by 577.4% in the second quarter. Rehmann Capital Advisory Group now owns 2,005 shares of the technology company’s stock valued at $521,000 after acquiring an additional 1,709 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in shares of Arista Networks by 3.6% in the second quarter. Treasurer of the State of North Carolina now owns 24,656 shares of the technology company’s stock valued at $6,401,000 after acquiring an additional 854 shares in the last quarter. Hedge funds and other institutional investors own 58.74% of the company’s stock.

In other Arista Networks news, SVP Kenneth Duda sold 10,874 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $234.82, for a total value of $2,553,432.68. Following the completion of the sale, the senior vice president now owns 2,979 shares in the company, valued at approximately $699,528.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Marc Taxay sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $236.93, for a total transaction of $473,860.00. Following the completion of the sale, the senior vice president now owns 12,312 shares of the company’s stock, valued at approximately $2,917,082.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,936 shares of company stock valued at $9,536,093. Insiders own 23.83% of the company’s stock.

Shares of NYSE:ANET traded up $0.28 during mid-day trading on Wednesday, hitting $229.38. The stock had a trading volume of 253,931 shares, compared to its average volume of 872,873. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.17 and a current ratio of 5.77. The company has a market cap of $17.68 billion, a PE ratio of 32.44, a P/E/G ratio of 1.37 and a beta of 1.58. Arista Networks Inc has a 12-month low of $187.08 and a 12-month high of $331.27. The company’s 50 day moving average is $233.17 and its 200-day moving average is $263.04.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $2.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.46. The business had revenue of $608.32 million during the quarter, compared to the consensus estimate of $606.78 million. Arista Networks had a net margin of 30.86% and a return on equity of 28.76%. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.93 EPS. On average, equities research analysts predict that Arista Networks Inc will post 8.71 EPS for the current fiscal year.

Several research analysts have recently issued reports on the stock. Evercore ISI assumed coverage on shares of Arista Networks in a report on Wednesday, September 11th. They issued an “inline” rating and a $240.00 price objective for the company. JMP Securities reiterated an “outperform” rating and issued a $280.00 price objective (down from $315.00) on shares of Arista Networks in a report on Friday, August 2nd. Zacks Investment Research upgraded shares of Arista Networks from a “sell” rating to a “hold” rating and set a $284.00 price objective for the company in a report on Monday, July 8th. Nomura cut shares of Arista Networks from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $290.00 to $230.00 in a report on Thursday, October 3rd. Finally, Goldman Sachs Group set a $290.00 price objective on shares of Arista Networks and gave the company a “buy” rating in a report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Arista Networks currently has an average rating of “Buy” and an average price target of $294.86.

About Arista Networks

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.

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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