Nuveen Asset Management LLC reduced its stake in shares of Arista Networks Inc (NYSE:ANET) by 94.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,013 shares of the technology company’s stock after selling 15,806 shares during the quarter. Nuveen Asset Management LLC’s holdings in Arista Networks were worth $213,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in ANET. CENTRAL TRUST Co boosted its holdings in Arista Networks by 53.3% in the fourth quarter. CENTRAL TRUST Co now owns 141 shares of the technology company’s stock valued at $29,000 after acquiring an additional 49 shares during the last quarter. First United Bank Trust boosted its holdings in Arista Networks by 1.4% in the fourth quarter. First United Bank Trust now owns 5,156 shares of the technology company’s stock valued at $1,086,000 after acquiring an additional 71 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its holdings in Arista Networks by 37.5% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 352 shares of the technology company’s stock valued at $74,000 after acquiring an additional 96 shares during the last quarter. Securian Asset Management Inc boosted its holdings in Arista Networks by 1.9% in the fourth quarter. Securian Asset Management Inc now owns 5,400 shares of the technology company’s stock valued at $1,138,000 after acquiring an additional 100 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in Arista Networks by 5.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,903 shares of the technology company’s stock valued at $401,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 56.33% of the company’s stock.
ANET has been the topic of a number of recent analyst reports. Nomura upgraded Arista Networks from a “neutral” rating to a “buy” rating and set a $260.00 target price on the stock in a report on Friday, January 18th. Morgan Stanley raised their target price on Arista Networks from $265.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. ValuEngine upgraded Arista Networks from a “hold” rating to a “buy” rating in a report on Thursday, March 21st. Goldman Sachs Group reiterated a “buy” rating and set a $360.00 price objective (up previously from $300.00) on shares of Arista Networks in a report on Thursday, March 21st. Finally, Rosenblatt Securities started coverage on Arista Networks in a report on Friday, March 29th. They set a “neutral” rating and a $330.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company. Arista Networks currently has a consensus rating of “Buy” and a consensus price target of $302.22.
Arista Networks stock traded up $4.17 during midday trading on Wednesday, reaching $325.23. The stock had a trading volume of 784,100 shares, compared to its average volume of 833,180. Arista Networks Inc has a 1-year low of $187.08 and a 1-year high of $331.27. The firm has a market cap of $24.69 billion, a PE ratio of 46.00, a P/E/G ratio of 1.95 and a beta of 1.51. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.04 and a current ratio of 4.48.
Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, February 14th. The technology company reported $2.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.80 by $0.45. The firm had revenue of $595.70 million for the quarter, compared to analyst estimates of $591.41 million. Arista Networks had a return on equity of 29.37% and a net margin of 29.47%. The business’s quarterly revenue was up 27.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.71 EPS. As a group, equities research analysts predict that Arista Networks Inc will post 8.24 EPS for the current 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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