Squarepoint Ops LLC increased its holdings in shares of Arista Networks Inc (NYSE:ANET) by 1,246.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,800 shares of the technology company’s stock after purchasing an additional 18,330 shares during the quarter. Squarepoint Ops LLC’s holdings in Arista Networks were worth $4,731,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Nuveen Asset Management LLC increased its position in shares of Arista Networks by 65,325.6% during the second quarter. Nuveen Asset Management LLC now owns 817,820 shares of the technology company’s stock worth $212,322,000 after acquiring an additional 816,570 shares in the last quarter. First Trust Advisors LP lifted its position in Arista Networks by 53.1% in the 2nd quarter. First Trust Advisors LP now owns 1,143,852 shares of the technology company’s stock valued at $296,967,000 after acquiring an additional 396,782 shares in the last quarter. Parnassus Investments CA acquired a new position in Arista Networks in the 3rd quarter worth $65,990,000. Amundi Pioneer Asset Management Inc. boosted its stake in Arista Networks by 147.5% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 460,100 shares of the technology company’s stock worth $119,451,000 after purchasing an additional 274,175 shares during the period. Finally, TD Asset Management Inc. increased its holdings in Arista Networks by 717.4% during the 2nd quarter. TD Asset Management Inc. now owns 270,857 shares of the technology company’s stock worth $70,319,000 after purchasing an additional 237,719 shares in the last quarter. 59.68% of the stock is owned by institutional investors and hedge funds.
ANET has been the topic of several recent research reports. Cowen dropped their price target on Arista Networks from $295.00 to $212.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Needham & Company LLC cut Arista Networks from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Oppenheimer downgraded Arista Networks from an “outperform” rating to a “market perform” rating in a report on Friday, November 1st. UBS Group decreased their price objective on Arista Networks from $285.00 to $200.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Finally, Credit Suisse Group lowered Arista Networks from an “outperform” rating to a “neutral” rating and set a $144.00 target price on the stock. in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the stock. Arista Networks has a consensus rating of “Hold” and an average target price of $230.50.
Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $2.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.19 by $0.50. The company had revenue of $654.40 million for the quarter, compared to analysts’ expectations of $653.26 million. Arista Networks had a return on equity of 28.94% and a net margin of 32.68%. The business’s revenue was up 16.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.11 EPS. On average, equities research analysts anticipate that Arista Networks Inc will post 8.55 EPS for the current fiscal year.
In related news, Director Ann Mather sold 329 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $194.00, for a total value of $63,826.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Marc Taxay sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $236.93, for a total transaction of $473,860.00. Following the completion of the sale, the senior vice president now owns 12,312 shares of the company’s stock, valued at $2,917,082.16. The disclosure for this sale can be found here. Insiders sold 36,953 shares of company stock valued at $8,006,469 over the last three months. 23.83% of the stock is owned by company insiders.
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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