Comerica Bank Grows Holdings in Arista Networks Inc (ANET)
Comerica Bank raised its stake in Arista Networks Inc (NYSE:ANET) by 384.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,735 shares of the technology company’s stock after buying an additional 10,899 shares during the quarter. Comerica Bank’s holdings in Arista Networks were worth $3,198,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in ANET. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in Arista Networks in the second quarter worth approximately $129,000. Signet Financial Management LLC bought a new stake in Arista Networks in the second quarter worth approximately $142,000. NewSquare Capital LLC bought a new stake in Arista Networks in the second quarter worth approximately $181,000. Foundry Partners LLC bought a new stake in Arista Networks in the third quarter worth approximately $200,000. Finally, Hartford Investment Management Co. bought a new stake in Arista Networks in the second quarter worth approximately $204,000. Hedge funds and other institutional investors own 57.76% of the company’s stock.
In other news, SVP Kenneth Duda sold 11,000 shares of the stock in a transaction on Wednesday, October 10th. The shares were sold at an average price of $229.24, for a total value of $2,521,640.00. Following the completion of the transaction, the senior vice president now owns 2,664 shares in the company, valued at approximately $610,695.36. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jayshree Ullal sold 76,659 shares of the stock in a transaction on Friday, August 24th. The shares were sold at an average price of $306.41, for a total transaction of $23,489,084.19. Following the completion of the transaction, the insider now owns 3,809 shares of the company’s stock, valued at approximately $1,167,115.69. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 219,693 shares of company stock valued at $64,586,384. Corporate insiders own 24.95% of the company’s stock.
NYSE:ANET opened at $219.02 on Thursday. The firm has a market cap of $16.55 billion, a P/E ratio of 34.01, a P/E/G ratio of 1.51 and a beta of 1.56. Arista Networks Inc has a one year low of $206.86 and a one year high of $313.37. The company has a quick ratio of 4.11, a current ratio of 4.51 and a debt-to-equity ratio of 0.02.
Arista Networks (NYSE:ANET) last released its earnings results on Thursday, November 1st. The technology company reported $1.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.21. The firm had revenue of $563.31 million during 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% compared to the same quarter last year. During the same period in the prior year, the company earned $1.62 EPS. As a group, analysts forecast that Arista Networks Inc will post 6.84 earnings per share for the current fiscal year.
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Arista Networks Company 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: Book Value Per Share – BVPS
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