Magee Thomson Investment Partners LLC Has $6.616 Million Position in Arista Networks Inc (ANET)
Magee Thomson Investment Partners LLC decreased its position in shares of Arista Networks Inc (NYSE:ANET) by 19.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 50,020 shares of the technology company’s stock after selling 11,700 shares during the period. Arista Networks comprises about 2.6% of Magee Thomson Investment Partners LLC’s portfolio, making the stock its 20th largest position. Magee Thomson Investment Partners LLC owned approximately 0.07% of Arista Networks worth $6,616,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. FMR LLC boosted its position in Arista Networks by 44.5% in the fourth quarter. FMR LLC now owns 2,488,290 shares of the technology company’s stock worth $240,792,000 after buying an additional 766,800 shares during the last quarter. Capital Research Global Investors boosted its position in Arista Networks by 11.9% in the third quarter. Capital Research Global Investors now owns 6,592,122 shares of the technology company’s stock worth $560,858,000 after buying an additional 700,200 shares in the last quarter. Gilder Gagnon Howe & Co. LLC boosted its position in Arista Networks by 121.2% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 746,540 shares of the technology company’s stock worth $63,516,000 after buying an additional 409,112 shares in the last quarter. William Blair Investment Management LLC boosted its position in Arista Networks by 58.9% in the fourth quarter. William Blair Investment Management LLC now owns 1,042,333 shares of the technology company’s stock worth $100,867,000 after buying an additional 386,253 shares in the last quarter. Finally, 1832 Asset Management L.P. acquired a new position in Arista Networks during the third quarter worth approximately $30,091,000. 54.94% of the stock is currently owned by hedge funds and other institutional investors.
Arista Networks Inc (NYSE:ANET) traded up 0.14% during trading on Friday, hitting $136.66. The stock had a trading volume of 421,580 shares. The company’s 50 day moving average is $129.58 and its 200-day moving average is $103.00. Arista Networks Inc has a 12 month low of $60.51 and a 12 month high of $137.09. The company has a market cap of $9.70 billion, a PE ratio of 54.66 and a beta of 1.15.
Arista Networks (NYSE:ANET) last released its earnings results on Thursday, February 16th. The technology company reported $1.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.22. Arista Networks had a return on equity of 20.69% and a net margin of 16.15%. The firm earned $328 million during the quarter, compared to analysts’ expectations of $315.40 million. During the same period in the previous year, the firm posted $0.80 EPS. Arista Networks’s revenue for the quarter was up 33.6% on a year-over-year basis. On average, equities research analysts predict that Arista Networks Inc will post $3.77 earnings per share for the current year.
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ANET has been the topic of a number of research analyst reports. Stifel Nicolaus reissued a “buy” rating on shares of Arista Networks in a report on Wednesday, February 8th. Cowen and Company reissued an “outperform” rating and issued a $123.00 price target on shares of Arista Networks in a report on Tuesday, March 14th. DA Davidson initiated coverage on Arista Networks in a report on Wednesday, January 25th. They issued a “buy” rating and a $118.00 price target on the stock. Barclays PLC reissued an “overweight” rating on shares of Arista Networks in a report on Thursday, January 19th. Finally, Goldman Sachs Group Inc reissued a “sell” rating and issued a $60.00 price target on shares of Arista Networks in a report on Thursday, February 16th. Thirteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $119.68.
In other Arista Networks news, SVP Marc Taxay sold 2,000 shares of Arista Networks stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $131.65, for a total transaction of $263,300.00. Following the completion of the sale, the senior vice president now directly owns 10,650 shares of the company’s stock, valued at approximately $1,402,072.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anshul Sadana sold 21,000 shares of Arista Networks stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $130.00, for a total value of $2,730,000.00. Following the sale, the insider now directly owns 103,524 shares of the company’s stock, valued at $13,458,120. The disclosure for this sale can be found here. Insiders have sold a total of 25,000 shares of company stock valued at $3,233,600 over the last three months. 32.39% of the stock is currently owned by insiders.
About Arista Networks
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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