Y Intercept Hong Kong Ltd Acquires New Holdings in Arista Networks, Inc. $ANET

Y Intercept Hong Kong Ltd bought a new position in Arista Networks, Inc. (NYSE:ANET) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,705 shares of the technology company’s stock, valued at approximately $1,706,000.

Other institutional investors have also modified their holdings of the company. Bare Financial Services Inc boosted its stake in Arista Networks by 2,118.2% in the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after acquiring an additional 233 shares in the last quarter. AdvisorNet Financial Inc lifted its holdings in shares of Arista Networks by 56.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after purchasing an additional 72 shares during the last quarter. Richardson Financial Services Inc. boosted its position in shares of Arista Networks by 141.3% in the 3rd quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock worth $32,000 after purchasing an additional 130 shares in the last quarter. REAP Financial Group LLC grew its stake in Arista Networks by 108.0% during the 2nd quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock worth $34,000 after buying an additional 175 shares during the last quarter. Finally, SJS Investment Consulting Inc. increased its position in Arista Networks by 979.2% during the 3rd quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock valued at $38,000 after buying an additional 235 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on ANET. Weiss Ratings reissued a “hold (c+)” rating on shares of Arista Networks in a report on Monday, December 29th. Zacks Research cut shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Piper Sandler raised shares of Arista Networks from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $145.00 to $159.00 in a research report on Monday, January 5th. Morgan Stanley decreased their price target on shares of Arista Networks from $171.00 to $159.00 and set an “overweight” rating for the company in a report on Wednesday, December 17th. Finally, UBS Group reiterated a “buy” rating and set a $155.00 price objective on shares of Arista Networks in a research note on Wednesday, December 3rd. Seventeen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $164.44.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $148.11 on Friday. The stock has a market cap of $186.51 billion, a PE ratio of 56.31, a price-to-earnings-growth ratio of 2.53 and a beta of 1.41. The firm has a fifty day moving average price of $130.50 and a 200 day moving average price of $134.85. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $164.94.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.26 billion. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The firm’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period last year, the firm earned $2.40 EPS. As a group, equities analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, insider Kenneth Duda sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $128.61, for a total value of $3,858,300.00. Following the sale, the insider owned 12,976 shares in the company, valued at approximately $1,668,843.36. This represents a 69.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $133.79, for a total transaction of $1,070,320.00. Following the transaction, the director directly owned 17,784 shares of the company’s stock, valued at approximately $2,379,321.36. This trade represents a 31.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 216,464 shares of company stock valued at $27,687,068. 3.39% of the stock is owned by company insiders.

About Arista Networks

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.