Ieq Capital LLC increased its position in Arista Networks, Inc. (NYSE:ANET – Free Report) by 8.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,019 shares of the technology company’s stock after purchasing an additional 2,719 shares during the period. Ieq Capital LLC’s holdings in Arista Networks were worth $11,923,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of ANET. 9258 Wealth Management LLC acquired a new stake in shares of Arista Networks during the 4th quarter valued at approximately $240,000. Brown Advisory Inc. acquired a new stake in shares of Arista Networks during the fourth quarter worth $220,000. PNC Financial Services Group Inc. lifted its position in shares of Arista Networks by 7.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 51,301 shares of the technology company’s stock worth $12,082,000 after buying an additional 3,763 shares during the last quarter. Gladstone Institutional Advisory LLC acquired a new position in shares of Arista Networks in the 4th quarter valued at about $267,000. Finally, Coldstream Capital Management Inc. grew its position in shares of Arista Networks by 18.9% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,755 shares of the technology company’s stock valued at $649,000 after buying an additional 437 shares during the last quarter. 82.47% of the stock is owned by institutional investors.
Insider Transactions at Arista Networks
In related news, CEO Jayshree Ullal sold 25,000 shares of Arista Networks stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $347.00, for a total value of $8,675,000.00. Following the transaction, the chief executive officer now owns 1,600,800 shares of the company’s stock, valued at approximately $555,477,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Arista Networks news, CEO Jayshree Ullal sold 25,000 shares of Arista Networks stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $347.00, for a total transaction of $8,675,000.00. Following the transaction, the chief executive officer now directly owns 1,600,800 shares in the company, valued at approximately $555,477,600. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Marc Taxay sold 624 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $354.71, for a total transaction of $221,339.04. The disclosure for this sale can be found here. Insiders have sold 107,361 shares of company stock valued at $38,024,123 over the last three months. Company insiders own 3.54% of the company’s stock.
Analyst Upgrades and Downgrades
Check Out Our Latest Analysis on ANET
Arista Networks Trading Up 4.9 %
NYSE:ANET opened at $379.36 on Friday. The company has a 50-day moving average of $341.09 and a 200-day moving average of $315.79. The firm has a market cap of $118.88 billion, a price-to-earnings ratio of 52.84, a price-to-earnings-growth ratio of 2.70 and a beta of 1.07. Arista Networks, Inc. has a twelve month low of $168.25 and a twelve month high of $380.54.
Arista Networks (NYSE:ANET – Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.38. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the previous year, the business posted $1.41 earnings per share. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, research analysts forecast that Arista Networks, Inc. will post 7.38 earnings per share for the current year.
Arista Networks Profile
Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.
Featured Stories
- Five stocks we like better than Arista Networks
- 3 Stocks to Protect Your Portfolio from the Coronavirus Contagion
- Edgewise Therapeutics Soars 50%: Key Reasons Behind the Surge
- 5 discounted opportunities for dividend growth investors
- How the Fed’s Rate Cut Could Supercharge These 3 ETFs
- Biggest Stock Losers – Today’s Biggest Percentage Decliners
- Microsoft Stock: 3 Reasons It’s Ready to Crush Q4
Receive News & Ratings for Arista Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks and related companies with MarketBeat.com's FREE daily email newsletter.