Marshall Wace North America L.P. bought a new position in shares of Arista Networks Inc (NYSE:ANET) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 73,280 shares of the technology company’s stock, valued at approximately $19,482,000.
Several other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. lifted its holdings in Arista Networks by 4.6% in the first quarter. Principal Financial Group Inc. now owns 8,202 shares of the technology company’s stock valued at $2,094,000 after acquiring an additional 361 shares during the last quarter. Bank of Montreal Can lifted its holdings in Arista Networks by 18.1% in the second quarter. Bank of Montreal Can now owns 7,785 shares of the technology company’s stock valued at $2,005,000 after acquiring an additional 1,192 shares during the last quarter. Cornerstone Wealth Management LLC acquired a new position in Arista Networks in the second quarter valued at approximately $337,000. Aperio Group LLC lifted its holdings in Arista Networks by 60.6% in the second quarter. Aperio Group LLC now owns 17,889 shares of the technology company’s stock valued at $4,606,000 after acquiring an additional 6,751 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in Arista Networks by 196.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 15,810 shares of the technology company’s stock valued at $4,071,000 after acquiring an additional 10,474 shares during the last quarter. Institutional investors and hedge funds own 58.54% of the company’s stock.
ANET has been the topic of a number of research analyst reports. Morgan Stanley lowered Arista Networks from an “overweight” rating to an “equal weight” rating and set a $310.00 target price on the stock. in a research report on Tuesday, September 4th. William Blair reissued an “outperform” rating on shares of Arista Networks in a research report on Monday, September 17th. Goldman Sachs Group lowered Arista Networks from a “conviction-buy” rating to a “buy” rating in a research report on Thursday, October 4th. Credit Suisse Group set a $315.00 target price on Arista Networks and gave the company a “buy” rating in a research report on Friday, November 2nd. Finally, Berenberg Bank set a $350.00 target price on Arista Networks and gave the company a “buy” rating in a research report on Wednesday, September 19th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $295.40.
Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Thursday, November 1st. The technology company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.21. Arista Networks had a return on equity of 29.06% and a net margin of 28.05%. The business had revenue of $563.31 million for the quarter, compared to analyst estimates of $548.81 million. During the same quarter in the prior year, the company earned $1.62 earnings per share. The company’s revenue was up 28.7% on a year-over-year basis. Analysts predict that Arista Networks Inc will post 6.84 EPS for the current year.
In related news, SVP Marc Taxay sold 5,000 shares of the stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $233.53, for a total value of $1,167,650.00. Following the transaction, the senior vice president now owns 16,964 shares of the company’s stock, valued at $3,961,602.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kenneth Duda sold 11,000 shares of the stock in a transaction on Monday, September 10th. The shares were sold at an average price of $267.49, for a total value of $2,942,390.00. Following the completion of the transaction, the senior vice president now directly owns 2,664 shares in the company, valued at approximately $712,593.36. The disclosure for this sale can be found here. Insiders have sold 43,241 shares of company stock worth $10,545,875 in the last ninety days. Corporate insiders own 24.95% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This story was first reported by Community Financial News and is the property of of Community Financial News. If you are viewing this story on another publication, it was illegally stolen and reposted in violation of US & international copyright legislation. The correct version of this story can be read at https://www.com-unik.info/2018/12/08/marshall-wace-north-america-l-p-buys-new-holdings-in-arista-networks-inc-anet.html.
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.
See Also: Earnings Reports
Want to see what other hedge funds are holding ANET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arista Networks Inc (NYSE:ANET).
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.