CI Investments Inc. maintained its position in Arista Networks, Inc. (NYSE:ANET) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,100 shares of the technology company’s stock at the close of the 2nd quarter. CI Investments Inc.’s holdings in Arista Networks were worth $4,808,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Pittenger & Anderson Inc. increased its position in shares of Arista Networks by 24.3% in the second quarter. Pittenger & Anderson Inc. now owns 1,665 shares of the technology company’s stock valued at $249,000 after acquiring an additional 325 shares during the last quarter. Twin Tree Management LP increased its position in shares of Arista Networks by 1,877.2% in the second quarter. Twin Tree Management LP now owns 8,601 shares of the technology company’s stock valued at $1,288,000 after acquiring an additional 8,166 shares during the last quarter. AXA increased its position in shares of Arista Networks by 38.6% in the second quarter. AXA now owns 129,131 shares of the technology company’s stock valued at $19,343,000 after acquiring an additional 35,933 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Arista Networks by 99.3% in the second quarter. Franklin Resources Inc. now owns 60,200 shares of the technology company’s stock valued at $9,017,000 after acquiring an additional 30,000 shares during the last quarter. Finally, Engineers Gate Manager LP increased its position in shares of Arista Networks by 178.3% in the second quarter. Engineers Gate Manager LP now owns 35,423 shares of the technology company’s stock valued at $5,306,000 after acquiring an additional 22,696 shares during the last quarter. 59.40% of the stock is currently owned by institutional investors and hedge funds.

Shares of Arista Networks, Inc. (ANET) traded down 0.56% during midday trading on Friday, hitting $172.68. The company had a trading volume of 318,092 shares. The company’s 50-day moving average price is $166.40 and its 200 day moving average price is $147.01. Arista Networks, Inc. has a 12-month low of $78.16 and a 12-month high of $179.71. The company has a market capitalization of $12.52 billion, a price-to-earnings ratio of 44.56 and a beta of 1.30.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.15. Arista Networks had a net margin of 21.74% and a return on equity of 22.64%. The business had revenue of $405.21 million during the quarter, compared to analyst estimates of $361.02 million. During the same period in the previous year, the business earned $0.74 EPS. Arista Networks’s revenue was up 50.8% compared to the same quarter last year. Equities research analysts predict that Arista Networks, Inc. will post $4.69 earnings per share for the current fiscal year.

In related news, SVP Marc Taxay sold 2,000 shares of Arista Networks stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $148.52, for a total value of $297,040.00. Following the completion of the transaction, the senior vice president now directly owns 11,775 shares in the company, valued at approximately $1,748,823. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kenneth Duda sold 10,083 shares of Arista Networks stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $149.09, for a total transaction of $1,503,274.47. Following the completion of the transaction, the senior vice president now owns 1,202 shares of the company’s stock, valued at $179,206.18. The disclosure for this sale can be found here. Insiders sold a total of 625,645 shares of company stock valued at $104,637,245 over the last quarter. 28.09% of the stock is owned by company insiders.

A number of research firms recently issued reports on ANET. BMO Capital Markets reaffirmed an “outperform” rating and issued a $190.00 target price (up previously from $167.00) on shares of Arista Networks in a research report on Friday, August 4th. J P Morgan Chase & Co raised Arista Networks from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $144.00 to $186.00 in a research report on Friday, August 4th. Argus reaffirmed a “buy” rating on shares of Arista Networks in a research report on Monday, August 7th. DA Davidson downgraded Arista Networks from a “buy” rating to a “neutral” rating and set a $153.00 target price on the stock. in a research report on Monday, May 22nd. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $180.00 target price (up previously from $160.00) on shares of Arista Networks in a research report on Wednesday, August 9th. Sixteen research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $154.40.

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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.

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

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