Decatur Capital Management Inc. cut its stake in shares of Arista Networks Inc (NYSE:ANET) by 13.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 53,050 shares of the technology company’s stock after selling 8,325 shares during the quarter. Arista Networks makes up 2.5% of Decatur Capital Management Inc.’s portfolio, making the stock its 8th largest holding. Decatur Capital Management Inc. owned about 0.07% of Arista Networks worth $12,498,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in ANET. PNC Financial Services Group Inc. lifted its holdings in shares of Arista Networks by 20.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock valued at $111,000 after purchasing an additional 126 shares in the last quarter. IFC Holdings Incorporated FL lifted its stake in Arista Networks by 2.7% in the 3rd quarter. IFC Holdings Incorporated FL now owns 10,789 shares of the technology company’s stock valued at $2,045,000 after acquiring an additional 280 shares in the last quarter. Pittenger & Anderson Inc. increased its position in shares of Arista Networks by 17.4% during the 3rd quarter. Pittenger & Anderson Inc. now owns 1,955 shares of the technology company’s stock worth $371,000 after purchasing an additional 290 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Arista Networks by 10.4% during the 4th quarter. CIBC Asset Management Inc now owns 3,094 shares of the technology company’s stock worth $729,000 after purchasing an additional 292 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of Arista Networks by 16.5% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 2,453 shares of the technology company’s stock worth $465,000 after acquiring an additional 348 shares during the last quarter. Institutional investors own 58.15% of the company’s stock.
In related news, SVP Marc Taxay sold 2,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $275.31, for a total transaction of $550,620.00. Following the transaction, the senior vice president now owns 12,294 shares in the company, valued at approximately $3,384,661.14. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Andreas Bechtolsheim sold 132,370 shares of the business’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $240.17, for a total value of $31,791,302.90. Following the transaction, the insider now owns 73,102 shares in the company, valued at approximately $17,556,907.34. The disclosure for this sale can be found here. In the last three months, insiders sold 333,126 shares of company stock valued at $79,827,040. 28.09% of the stock is currently owned by corporate insiders.
Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, February 15th. The technology company reported $1.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.32. Arista Networks had a return on equity of 24.76% and a net margin of 25.10%. The firm had revenue of $467.90 million during the quarter, compared to analyst estimates of $463.82 million. During the same quarter in the previous year, the company posted $1.04 earnings per share. The company’s revenue was up 42.7% compared to the same quarter last year. equities analysts expect that Arista Networks Inc will post 4.63 earnings per share for the current fiscal year.
A number of research firms recently weighed in on ANET. BMO Capital Markets reaffirmed a “hold” rating and issued a $205.00 price objective on shares of Arista Networks in a report on Thursday. Needham & Company LLC upped their target price on Arista Networks from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Friday. DA Davidson set a $300.00 price objective on Arista Networks and gave the stock a “buy” rating in a research report on Friday. Stifel Nicolaus restated a “buy” rating and set a $310.00 price objective (up from $270.00) on shares of Arista Networks in a research report on Friday. Finally, Gabelli downgraded Arista Networks from a “buy” rating to a “hold” rating in a research report on Friday. Fifteen equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Arista Networks has a consensus rating of “Buy” and an average price target of $236.80.
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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.
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