Machina Capital S.A.S. Acquires New Stake in Arista Networks, Inc. $ANET

Machina Capital S.A.S. bought a new position in shares of Arista Networks, Inc. (NYSE:ANET) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 9,986 shares of the technology company’s stock, valued at approximately $1,455,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of Marin boosted its position in shares of Arista Networks by 4.5% during the third quarter. Bank of Marin now owns 11,761 shares of the technology company’s stock worth $1,714,000 after buying an additional 509 shares during the period. Ashton Thomas Private Wealth LLC lifted its stake in Arista Networks by 153.0% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 44,177 shares of the technology company’s stock valued at $6,437,000 after acquiring an additional 26,717 shares in the last quarter. Premier Path Wealth Partners LLC boosted its position in Arista Networks by 2.0% during the 3rd quarter. Premier Path Wealth Partners LLC now owns 9,068 shares of the technology company’s stock worth $1,321,000 after acquiring an additional 178 shares during the last quarter. Westside Investment Management Inc. grew its stake in shares of Arista Networks by 48.1% during the 3rd quarter. Westside Investment Management Inc. now owns 1,140 shares of the technology company’s stock worth $170,000 after acquiring an additional 370 shares in the last quarter. Finally, Strengthening Families & Communities LLC acquired a new stake in shares of Arista Networks in the third quarter valued at approximately $3,300,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insiders Place Their Bets

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $140.43, for a total transaction of $1,123,440.00. Following the completion of the sale, the director owned 9,784 shares of the company’s stock, valued at $1,373,967.12. This trade represents a 44.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jayshree Ullal sold 24,042 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total transaction of $2,994,431.10. Following the completion of the transaction, the chief executive officer owned 9,917 shares in the company, valued at approximately $1,235,162.35. This represents a 70.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 216,464 shares of company stock worth $27,553,548 in the last quarter. Insiders own 3.39% of the company’s stock.

Analyst Upgrades and Downgrades

ANET has been the subject of several recent research reports. Barclays restated an “overweight” rating and set a $183.00 target price (up previously from $179.00) on shares of Arista Networks in a report on Wednesday, November 5th. Piper Sandler upgraded shares of Arista Networks from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $145.00 to $159.00 in a research note on Monday, January 5th. Morgan Stanley lowered their target price on Arista Networks from $171.00 to $159.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Arista Networks in a report on Monday, December 29th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $140.00 price target on shares of Arista Networks in a research note on Monday, November 24th. Seventeen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and a consensus price target of $164.44.

Arista Networks Stock Performance

Arista Networks stock opened at $130.30 on Thursday. The stock has a 50-day simple moving average of $131.64 and a 200 day simple moving average of $135.80. The stock has a market capitalization of $164.09 billion, a P/E ratio of 49.54, a PEG ratio of 2.35 and a beta of 1.42. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $164.94.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period last year, the firm posted $2.40 earnings per share. The business’s revenue was up 27.5% on a year-over-year basis. Research analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

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.