39,600 Shares in Arista Networks, Inc. (ANET) Acquired by Schroder Investment Management Group
Schroder Investment Management Group bought a new position in shares of Arista Networks, Inc. (NYSE:ANET) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 39,600 shares of the technology company’s stock, valued at approximately $5,938,000. Schroder Investment Management Group owned 0.05% of Arista Networks at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. LS Investment Advisors LLC purchased a new position in Arista Networks during the second quarter worth about $119,000. SG Americas Securities LLC purchased a new position in Arista Networks during the first quarter worth about $164,000. Daiwa Securities Group Inc. purchased a new position in Arista Networks during the second quarter worth about $202,000. Clinton Group Inc. purchased a new position in Arista Networks during the first quarter worth about $205,000. Finally, Financial Architects Inc boosted its stake in Arista Networks by 17.9% during the second quarter. Financial Architects Inc now owns 1,480 shares of the technology company’s stock worth $222,000 after buying an additional 225 shares during the period. 59.34% of the stock is owned by institutional investors.
In related news, insider Jayshree Ullal sold 80,064 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $158.08, for a total transaction of $12,656,517.12. Following the sale, the insider now directly owns 2,576 shares of the company’s stock, valued at approximately $407,214.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Ita M. Brennan sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $176.12, for a total value of $616,420.00. Following the sale, the insider now directly owns 16,903 shares in the company, valued at $2,976,956.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 626,331 shares of company stock valued at $104,898,551. Company insiders own 28.09% of the company’s stock.
Several research analysts have weighed in on ANET shares. Needham & Company LLC reaffirmed a “buy” rating and set a $150.00 target price on shares of Arista Networks in a research note on Tuesday, July 4th. Zacks Investment Research lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Stifel Nicolaus reaffirmed a “hold” rating and set a $145.00 target price on shares of Arista Networks in a research note on Friday, July 21st. BidaskClub lowered shares of Arista Networks from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 4th. Finally, Barclays PLC raised their price objective on shares of Arista Networks from $161.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, June 15th. Sixteen research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $155.29.
Shares of Arista Networks, Inc. (NYSE ANET) opened at 182.68 on Tuesday. Arista Networks, Inc. has a 12-month low of $78.82 and a 12-month high of $185.41. The firm has a market cap of $13.25 billion, a PE ratio of 47.14 and a beta of 1.30. The firm’s 50-day moving average is $170.19 and its 200-day moving average is $149.84.
Arista Networks (NYSE:ANET) last released its earnings results on Thursday, August 3rd. The technology company reported $1.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.15. The company had revenue of $405.21 million during the quarter, compared to analysts’ expectations of $361.02 million. Arista Networks had a return on equity of 22.64% and a net margin of 21.74%. The business’s revenue was up 50.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.74 EPS. Equities analysts expect that Arista Networks, Inc. will post $4.70 earnings per share for the current fiscal year.
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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