Arista Networks Inc (NYSE:ANET) Holdings Trimmed by Acadian Asset Management LLC

Acadian Asset Management LLC decreased its holdings in shares of Arista Networks Inc (NYSE:ANET) by 62.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,156 shares of the technology company’s stock after selling 10,220 shares during the quarter. Acadian Asset Management LLC’s holdings in Arista Networks were worth $1,636,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ANET. BlackRock Inc. raised its stake in shares of Arista Networks by 5.3% during the second quarter. BlackRock Inc. now owns 2,805,544 shares of the technology company’s stock worth $722,399,000 after purchasing an additional 140,468 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Arista Networks by 26.3% during the second quarter. Renaissance Technologies LLC now owns 1,093,700 shares of the technology company’s stock worth $281,617,000 after acquiring an additional 227,500 shares during the period. First Trust Advisors LP grew its holdings in Arista Networks by 7.9% during the second quarter. First Trust Advisors LP now owns 1,000,702 shares of the technology company’s stock worth $257,671,000 after acquiring an additional 73,288 shares during the period. Waddell & Reed Financial Inc. grew its holdings in Arista Networks by 5.5% during the second quarter. Waddell & Reed Financial Inc. now owns 470,510 shares of the technology company’s stock worth $121,152,000 after acquiring an additional 24,580 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in Arista Networks by 51.5% during the second quarter. Janus Henderson Group PLC now owns 424,339 shares of the technology company’s stock worth $109,264,000 after acquiring an additional 144,273 shares during the period. Hedge funds and other institutional investors own 58.54% of the company’s stock.

A number of research analysts recently weighed in on the company. Piper Jaffray Companies set a $320.00 price objective on Arista Networks and gave the stock a “buy” rating in a report on Friday, November 2nd. Stifel Nicolaus set a $275.00 price objective on Arista Networks and gave the stock a “buy” rating in a report on Friday, November 2nd. MKM Partners upped their price objective on Arista Networks to $275.00 and gave the stock a “neutral” rating in a report on Monday, November 5th. KeyCorp upped their price objective on Arista Networks from $310.00 to $320.00 and gave the stock an “overweight” rating in a report on Friday, November 2nd. Finally, Zacks Investment Research raised Arista Networks from a “hold” rating to a “buy” rating and set a $289.00 target price on the stock in a report on Monday, November 12th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $295.22.

Shares of NYSE:ANET traded down $14.16 on Wednesday, hitting $229.73. The company had a trading volume of 806,576 shares, compared to its average volume of 707,196. The company has a quick ratio of 4.11, a current ratio of 4.51 and a debt-to-equity ratio of 0.02. Arista Networks Inc has a 52-week low of $206.86 and a 52-week high of $313.37. The company has a market capitalization of $17.99 billion, a P/E ratio of 49.40, a P/E/G ratio of 1.67 and a beta of 1.56.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, November 1st. The technology company reported $1.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 the consensus estimate of $548.81 million. During the same period in the prior year, the business earned $1.62 earnings per share. The business’s revenue was up 28.7% on a year-over-year basis. On average, sell-side analysts anticipate that Arista Networks Inc will post 6.84 earnings per share for the current year.

In related news, insider John F. Mccool sold 567 shares of the stock in a transaction dated Wednesday, November 21st. The stock was sold at an average price of $220.25, for a total transaction of $124,881.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ann Mather sold 1,201 shares of the stock in a transaction dated Monday, November 12th. The stock was sold at an average price of $239.55, for a total value of $287,699.55. Following the transaction, the director now owns 6,061 shares in the company, valued at $1,451,912.55. The disclosure for this sale can be found here. Insiders sold 43,241 shares of company stock worth $10,545,875 over the last 90 days. Company insiders own 24.95% of the company’s stock.

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Arista Networks Company 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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