Cim LLC acquired a new position in shares of Arista Networks Inc (NYSE:ANET) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,836 shares of the technology company’s stock, valued at approximately $1,206,000.
A number of other hedge funds also recently added to or reduced their stakes in ANET. Lenox Wealth Management Inc. purchased a new stake in shares of Arista Networks in the 1st quarter valued at about $26,000. Larson Financial Group LLC bought a new stake in shares of Arista Networks during the fourth quarter valued at approximately $25,000. FTB Advisors Inc. bought a new stake in shares of Arista Networks during the fourth quarter valued at approximately $26,000. Kaizen Advisory LLC bought a new stake in shares of Arista Networks during the fourth quarter valued at approximately $27,000. Finally, Whittier Trust Co. bought a new stake in shares of Arista Networks during the first quarter valued at approximately $44,000. 57.15% of the stock is owned by hedge funds and other institutional investors.
In related news, SVP Marc Taxay sold 2,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $285.81, for a total transaction of $571,620.00. Following the completion of the transaction, the senior vice president now directly owns 16,173 shares of the company’s stock, valued at $4,622,405.13. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Anshul Sadana sold 42,084 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $286.27, for a total value of $12,047,386.68. Following the transaction, the insider now directly owns 6,282 shares of the company’s stock, valued at $1,798,348.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 245,315 shares of company stock valued at $72,716,903. Corporate insiders own 23.83% of the company’s stock.
Arista Networks stock traded up $0.19 during mid-day trading on Wednesday, reaching $249.07. 11,174 shares of the stock traded hands, compared to its average volume of 1,250,513. The stock has a market cap of $18.97 billion, a PE ratio of 35.24, a price-to-earnings-growth ratio of 1.52 and a beta of 1.47. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.70 and a current ratio of 5.34. Arista Networks Inc has a 12-month low of $187.08 and a 12-month high of $331.27.
Arista Networks (NYSE:ANET) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $2.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.07 by $0.24. Arista Networks had a return on equity of 29.36% and a net margin of 30.36%. The business had revenue of $595.42 million during the quarter, compared to analyst estimates of $595.21 million. During the same quarter in the previous year, the company posted $1.66 earnings per share. Arista Networks’s revenue for the quarter was up 26.0% on a year-over-year basis. As a group, sell-side analysts predict that Arista Networks Inc will post 8.43 EPS for the current fiscal year.
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Arista Networks Company Profile
Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of 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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