Clearbridge Investments LLC Decreases Holdings in Arista Networks Inc (ANET)

Clearbridge Investments LLC trimmed its holdings in shares of Arista Networks Inc (NYSE:ANET) by 0.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,865 shares of the technology company’s stock after selling 86 shares during the period. Clearbridge Investments LLC’s holdings in Arista Networks were worth $13,523,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc increased its holdings in Arista Networks by 21.1% in the 3rd quarter. Vanguard Group Inc now owns 5,432,205 shares of the technology company’s stock worth $1,444,206,000 after acquiring an additional 946,977 shares in the last quarter. BlackRock Inc. increased its holdings in Arista Networks by 30.2% in the 3rd quarter. BlackRock Inc. now owns 3,653,518 shares of the technology company’s stock worth $971,324,000 after acquiring an additional 847,974 shares in the last quarter. FMR LLC increased its holdings in Arista Networks by 4.1% in the 3rd quarter. FMR LLC now owns 2,896,554 shares of the technology company’s stock worth $770,078,000 after acquiring an additional 115,383 shares in the last quarter. Capital International Investors purchased a new stake in Arista Networks in the 3rd quarter worth $416,263,000. Finally, Jackson Square Partners LLC increased its holdings in Arista Networks by 24.2% in the 3rd quarter. Jackson Square Partners LLC now owns 1,376,995 shares of the technology company’s stock worth $366,087,000 after acquiring an additional 268,089 shares in the last quarter. Institutional investors and hedge funds own 58.52% of the company’s stock.

A number of equities research analysts have recently issued reports on the stock. Piper Jaffray Companies set a $320.00 target price on shares of Arista Networks and gave the stock a “buy” rating in a report on Friday, November 2nd. Stifel Nicolaus set a $275.00 target price on shares of Arista Networks and gave the stock a “buy” rating in a report on Friday, November 2nd. Wolfe Research assumed coverage on shares of Arista Networks in a report on Tuesday, December 11th. They set an “underperform” rating for the company. Zacks Investment Research lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, January 3rd. Finally, MKM Partners upped their target price on shares of Arista Networks to $275.00 and gave the stock a “neutral” rating in a report on Monday, November 5th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $293.09.

In other news, Director Ann Mather sold 1,201 shares of the stock in a transaction dated Monday, November 12th. The shares were sold at an average price of $239.55, for a total transaction of $287,699.55. Following the sale, the director now owns 6,061 shares of the company’s stock, valued at $1,451,912.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anshul Sadana sold 1,197 shares of the stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $235.00, for a total transaction of $281,295.00. Following the sale, the insider now directly owns 1,414 shares in the company, valued at approximately $332,290. The disclosure for this sale can be found here. Insiders have sold 32,725 shares of company stock worth $7,565,795 in the last three months. Corporate insiders own 24.95% of the company’s stock.

NYSE ANET opened at $218.10 on Friday. Arista Networks Inc has a 12 month low of $187.08 and a 12 month high of $313.37. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.11 and a current ratio of 4.51. The stock has a market capitalization of $16.36 billion, a price-to-earnings ratio of 46.90, a P/E/G ratio of 1.29 and a beta of 1.55.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, November 1st. The technology company reported $1.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.21. The business had revenue of $563.31 million for the quarter, compared to analysts’ expectations of $548.81 million. Arista Networks had a net margin of 28.05% and a return on equity of 29.06%. The business’s quarterly revenue was up 28.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.62 earnings per share. As a group, analysts predict that Arista Networks Inc will post 6.84 EPS for the current fiscal year.

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Arista Networks 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.

Further Reading: Quick Ratio

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

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