Mutual Advisors LLC decreased its holdings in Arista Networks, Inc. (NYSE:ANET – Get Rating) by 5.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,478 shares of the technology company’s stock after selling 152 shares during the quarter. Mutual Advisors LLC’s holdings in Arista Networks were worth $416,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Kentucky Retirement Systems raised its holdings in Arista Networks by 0.4% in the fourth quarter. Kentucky Retirement Systems now owns 19,378 shares of the technology company’s stock valued at $2,352,000 after acquiring an additional 85 shares in the last quarter. Argent Trust Co raised its holdings in Arista Networks by 4.6% in the fourth quarter. Argent Trust Co now owns 1,970 shares of the technology company’s stock valued at $239,000 after acquiring an additional 87 shares in the last quarter. Clarius Group LLC raised its holdings in Arista Networks by 4.7% in the fourth quarter. Clarius Group LLC now owns 1,979 shares of the technology company’s stock valued at $240,000 after acquiring an additional 89 shares in the last quarter. Brinker Capital Investments LLC raised its holdings in Arista Networks by 0.4% in the fourth quarter. Brinker Capital Investments LLC now owns 24,393 shares of the technology company’s stock valued at $2,960,000 after acquiring an additional 98 shares in the last quarter. Finally, Enlightenment Research LLC raised its holdings in Arista Networks by 4.0% in the third quarter. Enlightenment Research LLC now owns 2,600 shares of the technology company’s stock valued at $294,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 67.80% of the company’s stock.
Insiders Place Their Bets
In other news, CEO Jayshree Ullal sold 13,500 shares of Arista Networks stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $165.65, for a total transaction of $2,236,275.00. Following the completion of the transaction, the chief executive officer now owns 1,760,200 shares of the company’s stock, valued at approximately $291,577,130. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Jayshree Ullal sold 13,500 shares of Arista Networks stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $165.65, for a total transaction of $2,236,275.00. Following the completion of the transaction, the chief executive officer now owns 1,760,200 shares of the company’s stock, valued at approximately $291,577,130. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Marc Taxay sold 1,040 shares of Arista Networks stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $165.65, for a total value of $172,276.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 207,686 shares of company stock worth $33,574,091. Corporate insiders own 18.99% of the company’s stock.
Wall Street Analysts Forecast Growth
Arista Networks Stock Performance
Shares of NYSE ANET opened at $150.82 on Tuesday. The firm has a market capitalization of $46.49 billion, a P/E ratio of 31.42, a PEG ratio of 1.89 and a beta of 1.27. Arista Networks, Inc. has a one year low of $91.31 and a one year high of $178.36. The company’s fifty day moving average is $152.98 and its two-hundred day moving average is $143.12.
Arista Networks (NYSE:ANET – Get Rating) last issued its earnings results on Monday, May 1st. The technology company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.34 by $0.09. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.31 billion. Arista Networks had a net margin of 31.24% and a return on equity of 31.33%. The business’s revenue was up 54.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 EPS. On average, sell-side analysts forecast that Arista Networks, Inc. will post 5.22 earnings per share for the current fiscal year.
About Arista Networks
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.
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