NEOS Investment Management LLC Acquires 47,357 Shares of Arista Networks, Inc. $ANET

NEOS Investment Management LLC grew its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 60.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 126,346 shares of the technology company’s stock after acquiring an additional 47,357 shares during the quarter. NEOS Investment Management LLC’s holdings in Arista Networks were worth $18,410,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ANET. Bare Financial Services Inc lifted its position in shares of Arista Networks by 2,118.2% in the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after purchasing an additional 233 shares during the period. AdvisorNet Financial Inc boosted its position in 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 acquiring an additional 72 shares in the last quarter. Richardson Financial Services Inc. grew its holdings in shares of Arista Networks by 141.3% during the 3rd quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock worth $32,000 after acquiring an additional 130 shares during the period. SJS Investment Consulting Inc. boosted its position in shares of Arista Networks by 979.2% during the third quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock valued at $38,000 after purchasing an additional 235 shares in the last quarter. Finally, Solstein Capital LLC grew its stake in Arista Networks by 493.8% in the second quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock worth $39,000 after purchasing an additional 316 shares during the period. Institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling

In other news, CEO Jayshree Ullal sold 24,042 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total value of $2,994,431.10. Following the completion of the sale, the chief executive officer directly owned 9,917 shares of the company’s stock, valued at $1,235,162.35. This represents a 70.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $140.43, for a total transaction of $1,123,440.00. Following the transaction, the director owned 9,784 shares in the company, valued at approximately $1,373,967.12. This trade represents a 44.98% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 160,464 shares of company stock valued at $20,351,388. Insiders own 3.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ANET. Weiss Ratings reissued a “hold (c+)” rating on shares of Arista Networks in a research report on Monday, December 29th. Piper Sandler restated an “overweight” rating and issued a $175.00 price target (up previously from $159.00) on shares of Arista Networks in a research note on Friday. Erste Group Bank cut Arista Networks from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. Rosenblatt Securities upped their price target on shares of Arista Networks from $140.00 to $165.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 10th. Finally, Wells Fargo & Company raised their price objective on shares of Arista Networks from $175.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. Seventeen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.44.

Arista Networks Stock Performance

Arista Networks stock opened at $142.48 on Wednesday. The stock has a market cap of $179.42 billion, a PE ratio of 51.62, a price-to-earnings-growth ratio of 2.39 and a beta of 1.42. The stock has a fifty day moving average of $133.56 and a 200 day moving average of $137.40. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $164.94.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Thursday, February 12th. The technology company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.07. The company had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.38 billion. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The firm’s revenue was up 28.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.66 earnings per share. As a group, sell-side analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks Company Profile

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.