Bristol John W & Co. Inc. NY reduced its position in shares of Arista Networks Inc. (NYSE:ANET) by 3.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,735 shares of the company’s stock after selling 1,972 shares during the period. Bristol John W & Co. Inc. NY owned 0.09% of Arista Networks worth $5,082,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Nordea Investment Management AB increased its position in shares of Arista Networks by 251.8% in the second quarter. Nordea Investment Management AB now owns 8,173 shares of the company’s stock worth $526,000 after buying an additional 5,850 shares in the last quarter. Creative Planning increased its stake in Arista Networks by 4.0% in the second quarter. Creative Planning now owns 4,658 shares of the company’s stock valued at $300,000 after buying an additional 177 shares during the period. Alpha Windward LLC bought a new stake in Arista Networks during the second quarter valued at $371,000. Herald Investment Management Ltd increased its stake in Arista Networks by 145.8% in the first quarter. Herald Investment Management Ltd now owns 7,250 shares of the company’s stock valued at $457,000 after buying an additional 4,300 shares during the period. Finally, Seven Eight Capital LLC bought a new stake in Arista Networks during the first quarter valued at $150,000. Hedge funds and other institutional investors own 54.37% of the company’s stock.

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

Shares of Arista Networks Inc. (NYSE:ANET) traded down 0.07% during midday trading on Friday, reaching $87.98. 537,018 shares of the company’s stock traded hands. Arista Networks Inc. has a one year low of $52.51 and a one year high of $89.36. The company has a 50-day moving average of $84.40 and a 200-day moving average of $76.22. The company has a market capitalization of $6.09 billion, a price-to-earnings ratio of 43.77 and a beta of 1.12.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.10. Arista Networks had a net margin of 16.15% and a return on equity of 20.69%. The business had revenue of $290.26 million for the quarter, compared to the consensus estimate of $283.33 million. During the same quarter in the previous year, the firm earned $0.59 earnings per share. The company’s revenue for the quarter was up 33.4% on a year-over-year basis. Equities research analysts anticipate that Arista Networks Inc. will post $3.08 EPS for the current year.

ANET has been the subject of several recent research reports. Jefferies Group reissued an “underperform” rating and set a $50.00 target price (up from $40.25) on shares of Arista Networks in a research report on Monday, November 7th. Citigroup Inc. reissued a “buy” rating and set a $91.00 target price on shares of Arista Networks in a research report on Sunday, November 6th. Oppenheimer Holdings Inc. set a $90.00 target price on shares of Arista Networks and gave the stock a “buy” rating in a research report on Friday, August 5th. Pacific Crest reissued an “overweight” rating and set a $90.00 target price (down from $99.00) on shares of Arista Networks in a research report on Friday, July 22nd. Finally, Wells Fargo & Co. reissued a “positive” rating on shares of Arista Networks in a research report on Thursday, October 6th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Arista Networks currently has an average rating of “Buy” and a consensus target price of $86.36.

In other news, SVP Kenneth Duda sold 11,746 shares of Arista Networks stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $86.53, for a total transaction of $1,016,381.38. Following the sale, the senior vice president now owns 420 shares in the company, valued at $36,342.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jayshree Ullal sold 105,847 shares of Arista Networks stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $79.85, for a total transaction of $8,451,882.95. The disclosure for this sale can be found here. Company insiders own 32.39% of the company’s stock.

Arista Networks Company Profile

Arista Networks, Inc is a supplier of cloud networking solutions that address the needs of Internet companies, cloud service providers and next-generation data centers for enterprises. The Company’s cloud networking solutions consist of its Extensible Operating System (EOS), which is a set of network applications and its 10/25/40/50/100 Gigabit Ethernet switches.

5 Day Chart for NYSE:ANET

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