SG Americas Securities LLC bought a new stake in Arista Networks Inc (NYSE:ANET) in the 4th quarter, HoldingsChannel.com reports. The fund bought 1,361 shares of the technology company’s stock, valued at approximately $321,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ANET. PNC Financial Services Group Inc. increased its stake in shares of Arista Networks by 20.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock valued at $111,000 after buying an additional 126 shares during the period. Fieldpoint Private Securities LLC acquired a new stake in shares of Arista Networks in the 3rd quarter valued at $130,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Arista Networks in the 3rd quarter valued at $151,000. TRUE Private Wealth Advisors acquired a new stake in shares of Arista Networks in the 4th quarter valued at $210,000. Finally, CrestPoint Capital Management LLC acquired a new stake in shares of Arista Networks in the 4th quarter valued at $212,000. 57.18% of the stock is owned by institutional investors.
Several equities research analysts have recently commented on ANET shares. Nomura lifted their target price on Arista Networks from $185.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, February 20th. BMO Capital Markets lifted their target price on Arista Networks from $190.00 to $205.00 and gave the company a “market perform” rating in a research note on Friday, November 3rd. They noted that the move was a valuation call. Citigroup lifted their target price on Arista Networks from $275.00 to $315.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Zacks Investment Research cut Arista Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. Finally, BidaskClub raised Arista Networks from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 31st. Fourteen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $246.20.
Arista Networks Inc (ANET) opened at $259.14 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.70 and a current ratio of 4.28. The firm has a market capitalization of $18,940.00, a PE ratio of 43.41, a price-to-earnings-growth ratio of 1.84 and a beta of 1.47. Arista Networks Inc has a twelve month low of $117.95 and a twelve month high of $311.67.
Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, February 15th. The technology company reported $1.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.32. The firm had revenue of $467.90 million for the quarter, compared to analyst estimates of $463.82 million. Arista Networks had a return on equity of 25.86% and a net margin of 25.71%. The company’s revenue for the quarter was up 42.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.04 earnings per share. equities analysts predict that Arista Networks Inc will post 6.01 EPS for the current year.
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Arista Networks Company Profile
Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.
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