Arista Networks Inc (NYSE:ANET) is Myriad Asset Management Ltd.’s 10th Largest Position

Myriad Asset Management Ltd. grew its stake in Arista Networks Inc (NYSE:ANET) by 100.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 100,000 shares of the technology company’s stock after buying an additional 50,000 shares during the quarter. Arista Networks accounts for approximately 2.8% of Myriad Asset Management Ltd.’s portfolio, making the stock its 10th biggest position. Myriad Asset Management Ltd. owned approximately 0.13% of Arista Networks worth $25,962,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Valeo Financial Advisors LLC lifted its stake in Arista Networks by 24.2% during the second quarter. Valeo Financial Advisors LLC now owns 190 shares of the technology company’s stock worth $49,000 after purchasing an additional 37 shares during the last quarter. Cigna Investments Inc. New lifted its stake in Arista Networks by 2.4% during the first quarter. Cigna Investments Inc. New now owns 1,675 shares of the technology company’s stock worth $528,000 after purchasing an additional 40 shares during the last quarter. CENTRAL TRUST Co lifted its stake in Arista Networks by 42.6% during the first quarter. CENTRAL TRUST Co now owns 201 shares of the technology company’s stock worth $63,000 after purchasing an additional 60 shares during the last quarter. Montag & Caldwell LLC lifted its stake in Arista Networks by 4.5% during the first quarter. Montag & Caldwell LLC now owns 1,410 shares of the technology company’s stock worth $443,000 after purchasing an additional 61 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Arista Networks by 46.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 193 shares of the technology company’s stock worth $61,000 after purchasing an additional 61 shares during the last quarter. Institutional investors and hedge funds own 60.28% of the company’s stock.

Several equities research analysts recently weighed in on ANET shares. Stifel Nicolaus decreased their target price 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. Piper Jaffray Companies restated an “overweight” rating and set a $330.00 target price (down previously from $340.00) on shares of Arista Networks in a research note on Friday, June 7th. Needham & Company LLC decreased their target price on Arista Networks to $340.00 and set a “buy” rating for the company in a research note on Monday, July 29th. Morgan Stanley decreased their target price on Arista Networks from $300.00 to $275.00 and set an “equal weight” rating for the company in a research note on Friday, June 7th. Finally, ValuEngine cut Arista Networks from a “buy” rating to a “hold” rating in a research note on Saturday, May 4th. Eight analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $308.78.

NYSE ANET traded down $3.88 on Friday, reaching $223.40. The stock had a trading volume of 763,009 shares, compared to its average volume of 970,210. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.17 and a current ratio of 5.77. Arista Networks Inc has a 12-month low of $187.08 and a 12-month high of $331.27. The business’s 50-day moving average price is $254.48 and its 200 day moving average price is $270.67. The stock has a market cap of $17.42 billion, a P/E ratio of 31.60, a price-to-earnings-growth ratio of 1.37 and a beta of 1.58.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $2.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.98 by $0.46. Arista Networks had a return on equity of 28.76% and a net margin of 30.86%. The company had revenue of $608.32 million during the quarter, compared to analysts’ expectations of $606.78 million. During the same quarter in the previous year, the business earned $1.93 earnings per share. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, sell-side analysts predict that Arista Networks Inc will post 8.67 earnings per share for the current year.

In other news, SVP Manuel Felix Rivelo sold 151 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $275.00, for a total value of $41,525.00. Following the transaction, the senior vice president now owns 422 shares of the company’s stock, valued at $116,050. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Marc Taxay sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $244.88, for a total value of $489,760.00. Following the completion of the transaction, the senior vice president now directly owns 15,066 shares in the company, valued at approximately $3,689,362.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 212,553 shares of company stock valued at $53,822,026. 23.83% of the stock is owned by company insiders.

Arista Networks 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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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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