Neuberger Berman Group LLC raised its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 0.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 316,780 shares of the technology company’s stock after acquiring an additional 246 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.41% of Arista Networks worth $114,760,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of ANET. NEXT Financial Group Inc raised its holdings in shares of Arista Networks by 2.2% in the second quarter. NEXT Financial Group Inc now owns 1,376 shares of the technology company’s stock valued at $499,000 after buying an additional 29 shares during the last quarter. Kistler Tiffany Companies LLC raised its holdings in shares of Arista Networks by 40.3% in the second quarter. Kistler Tiffany Companies LLC now owns 108 shares of the technology company’s stock valued at $39,000 after buying an additional 31 shares during the last quarter. Colony Capital Inc. raised its holdings in shares of Arista Networks by 0.8% in the first quarter. Colony Capital Inc. now owns 4,249 shares of the technology company’s stock valued at $1,283,000 after buying an additional 33 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of Arista Networks by 14.3% in the second quarter. Parallel Advisors LLC now owns 295 shares of the technology company’s stock valued at $107,000 after buying an additional 37 shares during the last quarter. Finally, CX Institutional raised its holdings in shares of Arista Networks by 37.9% in the second quarter. CX Institutional now owns 142 shares of the technology company’s stock valued at $51,000 after buying an additional 39 shares during the last quarter. 61.51% of the stock is owned by institutional investors.
In other Arista Networks news, insider Andreas Bechtolsheim sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 24th. The stock was sold at an average price of $374.35, for a total transaction of $9,358,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jayshree Ullal sold 2,375 shares of the company’s stock in a transaction that occurred on Monday, August 2nd. The stock was sold at an average price of $378.05, for a total value of $897,868.75. Following the transaction, the chief executive officer now directly owns 992 shares of the company’s stock, valued at approximately $375,025.60. The disclosure for this sale can be found here. Insiders sold a total of 217,414 shares of company stock valued at $80,215,418 over the last quarter. 22.01% of the stock is owned by insiders.
Shares of ANET opened at $383.89 on Thursday. The stock has a 50 day simple moving average of $363.11 and a 200 day simple moving average of $350.17. Arista Networks, Inc. has a 52-week low of $200.35 and a 52-week high of $384.27. The firm has a market capitalization of $29.45 billion, a PE ratio of 41.86, a P/E/G ratio of 3.02 and a beta of 1.15.
Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Sunday, August 1st. The technology company reported $2.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.54 by $0.18. Arista Networks had a return on equity of 20.92% and a net margin of 27.72%. The business had revenue of $707.30 million during the quarter, compared to analyst estimates of $688.89 million. During the same period in the previous year, the firm earned $2.11 EPS. Arista Networks’s quarterly revenue was up 30.8% compared to the same quarter last year. As a group, research analysts anticipate that Arista Networks, Inc. will post 9.04 EPS for the current fiscal year.
Arista Networks Profile
Arista Networks, Inc engages in the development, marketing, and sale of cloud networking solutions. Its cloud networking solutions consist of Extensible Operating System(EOS) a set of network applications and Ethernet switching, and routing platforms. The company was founded by Andreas Bechtolsheim, David Cheriton, and Kenneth Duda in October 2004 and is headquartered in Santa Clara, CA.
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