Segall Bryant & Hamill LLC Raises Stake in Arista Networks, Inc. $ANET

Segall Bryant & Hamill LLC increased its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 48.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 410,712 shares of the technology company’s stock after buying an additional 134,970 shares during the period. Arista Networks comprises about 0.8% of Segall Bryant & Hamill LLC’s holdings, making the stock its 13th biggest position. Segall Bryant & Hamill LLC’s holdings in Arista Networks were worth $59,845,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ANET. Norges Bank purchased a new stake in shares of Arista Networks during the 2nd quarter worth approximately $1,228,177,000. Massachusetts Financial Services Co. MA grew its holdings in Arista Networks by 2,829.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,721,156 shares of the technology company’s stock valued at $833,630,000 after purchasing an additional 5,525,828 shares during the period. Holocene Advisors LP purchased a new stake in Arista Networks in the second quarter worth $247,451,000. Schroder Investment Management Group raised its stake in shares of Arista Networks by 14.8% in the second quarter. Schroder Investment Management Group now owns 10,494,124 shares of the technology company’s stock valued at $1,073,654,000 after buying an additional 1,350,593 shares during the period. Finally, Panagora Asset Management Inc. raised its stake in shares of Arista Networks by 282.9% in the second quarter. Panagora Asset Management Inc. now owns 1,549,486 shares of the technology company’s stock valued at $158,528,000 after buying an additional 1,144,786 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Price Performance

Shares of ANET opened at $129.31 on Tuesday. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $164.94. The company has a market capitalization of $162.49 billion, a P/E ratio of 46.85, a P/E/G ratio of 2.37 and a beta of 1.46. The firm’s 50 day simple moving average is $134.32 and its 200 day simple moving average is $137.28.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Thursday, February 12th. The technology company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.07. The business had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The business’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.66 EPS. On average, equities analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Analyst Ratings Changes

ANET has been the subject of several recent research reports. UBS Group set a $200.00 price objective on Arista Networks in a report on Tuesday, February 24th. Evercore reiterated an “outperform” rating and issued a $200.00 target price on shares of Arista Networks in a research note on Friday, February 13th. Barclays restated an “overweight” rating and set a $184.00 price target (up from $183.00) on shares of Arista Networks in a research note on Friday, February 13th. Wells Fargo & Company lifted 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. Finally, Erste Group Bank cut shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Monday, November 10th. Seventeen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and a consensus target price of $176.88.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction dated 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 sale, the director owned 9,784 shares in the company, valued at $1,373,967.12. This trade represents a 44.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kenneth Duda sold 32,000 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $142.44, for a total value of $4,558,080.00. Following the completion of the transaction, the insider owned 12,976 shares of the company’s stock, valued at $1,848,301.44. The trade was a 71.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 188,237 shares of company stock worth $24,836,400 in the last three months. Insiders own 3.54% of the company’s stock.

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.