Nomura Asset Management Co. Ltd. raised its stake in shares of Arista Networks Inc (NYSE:ANET) by 7.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 7,500 shares of the technology company’s stock after buying an additional 510 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Arista Networks were worth $1,580,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Larson Financial Group LLC purchased a new position in shares of Arista Networks in the 4th quarter valued at about $25,000. FTB Advisors Inc. purchased a new position in shares of Arista Networks in the 4th quarter valued at about $26,000. CENTRAL TRUST Co increased its stake in shares of Arista Networks by 53.3% in the 4th quarter. CENTRAL TRUST Co now owns 141 shares of the technology company’s stock valued at $29,000 after purchasing an additional 49 shares in the last quarter. Capital Investment Advisory Services LLC purchased a new position in shares of Arista Networks in the 4th quarter valued at about $39,000. Finally, Intercontinental Wealth Advisors LLC purchased a new position in shares of Arista Networks in the 4th quarter valued at about $47,000. Institutional investors and hedge funds own 55.65% of the company’s stock.
Several equities analysts recently weighed in on ANET shares. JPMorgan Chase & Co. set a $285.00 price target on Arista Networks and gave the company a “hold” rating in a research note on Friday, February 15th. Wolfe Research started coverage on Arista Networks in a research note on Tuesday, December 11th. They issued an “underperform” rating for the company. Morgan Stanley lifted their price target on Arista Networks from $265.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. Nomura lifted their price target on Arista Networks to $275.00 and gave the company a “buy” rating in a research note on Friday, February 15th. Finally, ValuEngine upgraded Arista Networks from a “sell” rating to a “hold” rating in a research note on Friday, February 15th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $294.70.
NYSE:ANET opened at $296.76 on Friday. Arista Networks Inc has a 12 month low of $187.08 and a 12 month high of $313.37. The company has a quick ratio of 4.04, a current ratio of 4.48 and a debt-to-equity ratio of 0.02. The company has a market cap of $22.47 billion, a price-to-earnings ratio of 41.97, a PEG ratio of 1.72 and a beta of 1.50.
Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Thursday, February 14th. The technology company reported $2.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.80 by $0.45. The company had revenue of $595.70 million during the quarter, compared to analyst estimates of $591.41 million. Arista Networks had a return on equity of 29.37% and a net margin of 29.47%. Arista Networks’s quarterly revenue was up 27.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.71 EPS. Equities research analysts forecast that Arista Networks Inc will post 8.24 earnings per share for the current year.
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Arista Networks Profile
Arista Networks, Inc provides cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of its 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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