Cim LLC Acquires Shares of 3,836 Arista Networks Inc (ANET)

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.

Several equities research analysts have commented on the company. MKM Partners boosted their target price on Arista Networks to $295.00 and gave the stock a “neutral” rating in a report on Monday, May 6th. Wolfe Research raised Arista Networks from an “underperform” rating to a “peer perform” rating in a report on Monday, May 6th. Macquarie set a $325.00 price target on Arista Networks and gave the stock a “buy” rating in a research note on Friday, May 3rd. ValuEngine cut Arista Networks from a “buy” rating to a “hold” rating in a research note on Saturday, May 4th. Finally, Stifel Nicolaus decreased their price target on Arista Networks from $294.00 to $287.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Nine investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Arista Networks presently has a consensus rating of “Buy” and an average target price of $314.13.

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.

ILLEGAL ACTIVITY WARNING: “Cim LLC Acquires Shares of 3,836 Arista Networks Inc (ANET)” was first posted by Community Financial News and is the sole property of of Community Financial News. If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of United States and international copyright & trademark laws. The legal version of this piece of content can be read at https://www.com-unik.info/2019/05/15/cim-llc-acquires-shares-of-3836-arista-networks-inc-anet.html.

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.

See Also: How is inflation measured?

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).

Institutional Ownership by Quarter for Arista Networks (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.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit