Meitav Dash Investments Ltd. lessened its holdings in Arista Networks Inc (NYSE:ANET) by 27.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,262 shares of the technology company’s stock after selling 2,020 shares during the quarter. Meitav Dash Investments Ltd.’s holdings in Arista Networks were worth $1,105,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Legacy Bridge LLC boosted its holdings in Arista Networks by 1.8% in the second quarter. Legacy Bridge LLC now owns 2,590 shares of the technology company’s stock worth $544,000 after acquiring an additional 45 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Arista Networks by 10.9% during the second quarter. Signaturefd LLC now owns 497 shares of the technology company’s stock worth $104,000 after purchasing an additional 49 shares during the period. NEXT Financial Group Inc lifted its holdings in Arista Networks by 6.8% in the first quarter. NEXT Financial Group Inc now owns 820 shares of the technology company’s stock valued at $166,000 after acquiring an additional 52 shares during the period. First United Bank Trust lifted its holdings in Arista Networks by 1.4% in the second quarter. First United Bank Trust now owns 3,945 shares of the technology company’s stock valued at $829,000 after acquiring an additional 55 shares during the period. Finally, Arden Trust Co lifted its holdings in Arista Networks by 5.8% in the second quarter. Arden Trust Co now owns 1,079 shares of the technology company’s stock valued at $226,000 after acquiring an additional 59 shares during the period. 61.56% of the stock is owned by institutional investors and hedge funds.
Shares of Arista Networks stock traded up $0.04 during trading hours on Thursday, hitting $220.69. The company’s stock had a trading volume of 18,182 shares, compared to its average volume of 914,053. Arista Networks Inc has a twelve month low of $156.63 and a twelve month high of $267.30. The firm has a fifty day moving average of $226.12 and a 200-day moving average of $215.03. The stock has a market cap of $16.68 billion, a price-to-earnings ratio of 23.35, a P/E/G ratio of 3.22 and a beta of 1.22. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.08 and a current ratio of 5.59.
Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Tuesday, August 4th. The technology company reported $2.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.95 by $0.16. The business had revenue of $540.60 million for the quarter, compared to analyst estimates of $530.56 million. Arista Networks had a return on equity of 22.29% and a net margin of 34.67%. The company’s quarterly revenue was down 11.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.44 EPS. On average, sell-side analysts expect that Arista Networks Inc will post 7.47 earnings per share for the current fiscal year.
A number of research analysts have issued reports on ANET shares. Oppenheimer reissued a “hold” rating on shares of Arista Networks in a report on Wednesday, August 5th. ValuEngine downgraded Arista Networks from a “buy” rating to a “hold” rating in a report on Friday, May 1st. William Blair reissued an “outperform” rating on shares of Arista Networks in a report on Wednesday, May 6th. Nomura boosted their price target on Arista Networks from $180.00 to $190.00 in a report on Wednesday, May 6th. Finally, Credit Suisse Group cut their price objective on Arista Networks from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Wednesday, May 6th. Twenty investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Arista Networks presently has an average rating of “Hold” and an average target price of $218.12.
In other Arista Networks news, CEO Jayshree Ullal sold 145 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $235.19, for a total transaction of $34,102.55. Following the transaction, the chief executive officer now owns 25,076 shares in the company, valued at $5,897,624.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Ita M. Brennan sold 3,930 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $224.20, for a total value of $881,106.00. Following the completion of the transaction, the chief financial officer now owns 11,874 shares in the company, valued at approximately $2,662,150.80. The disclosure for this sale can be found here. Insiders have sold 85,687 shares of company stock valued at $20,043,658 in the last three months. 23.77% of the stock is currently owned by company insiders.
Arista Networks Company Profile
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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