Marshall Wace North America L.P. Buys New Holdings in Arista Networks Inc (ANET)

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 stock opened at $225.09 on Friday. Arista Networks Inc has a twelve month low of $210.55 and a twelve month high of $313.37. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.11 and a current ratio of 4.51. The firm has a market cap of $17.98 billion, a PE ratio of 48.41, a P/E/G ratio of 1.64 and a beta of 1.56.

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.

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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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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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