Scout Investments Inc. Has $12.71 Million Stake in Arista Networks, Inc. (ANET)
Scout Investments Inc. lowered its stake in Arista Networks, Inc. (NYSE:ANET) by 56.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 84,878 shares of the technology company’s stock after selling 109,465 shares during the period. Scout Investments Inc. owned 0.12% of Arista Networks worth $12,714,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System raised its stake in Arista Networks by 13.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 65,336 shares of the technology company’s stock valued at $9,787,000 after buying an additional 7,827 shares during the period. Janus Capital Management LLC raised its stake in Arista Networks by 115.5% in the first quarter. Janus Capital Management LLC now owns 35,749 shares of the technology company’s stock valued at $4,728,000 after buying an additional 19,160 shares during the period. California Public Employees Retirement System raised its stake in Arista Networks by 154.9% in the first quarter. California Public Employees Retirement System now owns 90,500 shares of the technology company’s stock valued at $11,970,000 after buying an additional 55,000 shares during the period. Swiss National Bank raised its stake in Arista Networks by 0.9% in the first quarter. Swiss National Bank now owns 75,200 shares of the technology company’s stock valued at $9,947,000 after buying an additional 700 shares during the period. Finally, Credit Suisse AG raised its stake in Arista Networks by 1.4% in the first quarter. Credit Suisse AG now owns 62,634 shares of the technology company’s stock valued at $8,285,000 after buying an additional 859 shares during the period. 59.36% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Arista Networks, Inc. (NYSE:ANET) opened at 176.15 on Friday. The firm’s 50-day moving average price is $163.55 and its 200 day moving average price is $144.50. Arista Networks, Inc. has a 1-year low of $77.82 and a 1-year high of $179.71. The firm has a market cap of $12.78 billion, a PE ratio of 45.46 and a beta of 1.33.
Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.15. Arista Networks had a return on equity of 22.64% and a net margin of 21.74%. The company had revenue of $405.21 million for the quarter, compared to analyst estimates of $361.02 million. During the same quarter in the prior year, the company posted $0.74 EPS. The business’s revenue for the quarter was up 50.8% compared to the same quarter last year. On average, equities research analysts forecast that Arista Networks, Inc. will post $4.69 EPS for the current fiscal year.
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A number of equities analysts have issued reports on ANET shares. CIBC reiterated a “buy” rating and set a $160.00 price target on shares of Arista Networks in a research report on Friday, May 5th. Oppenheimer Holdings, Inc. set a $160.00 price target on Arista Networks and gave the stock a “buy” rating in a research report on Thursday, May 4th. Cowen and Company increased their price target on Arista Networks from $123.00 to $145.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Zacks Investment Research downgraded Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, Deutsche Bank AG set a $156.00 price target on Arista Networks and gave the stock a “buy” rating in a research report on Saturday, May 27th. Sixteen equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $154.40.
In other Arista Networks news, insider Anshul Sadana sold 12,000 shares of the stock in a transaction on Monday, July 17th. The stock was sold at an average price of $154.51, for a total transaction of $1,854,120.00. Following the transaction, the insider now owns 99,841 shares of the company’s stock, valued at approximately $15,426,432.91. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jayshree Ullal sold 1,001 shares of the stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $157.13, for a total value of $157,287.13. Following the transaction, the insider now directly owns 2,576 shares in the company, valued at approximately $404,766.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 648,706 shares of company stock worth $108,153,055. Corporate insiders own 28.09% of the company’s stock.
Arista Networks Company Profile
Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.
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