SPX Gestao de Recursos Ltda Invests $1.17 Million in Arista Networks, Inc. $ANET

SPX Gestao de Recursos Ltda bought a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,000 shares of the technology company’s stock, valued at approximately $1,166,000.

Several other large investors have also added to or reduced their stakes in ANET. Global Trust Asset Management LLC increased its stake in Arista Networks by 33.0% in the third quarter. Global Trust Asset Management LLC now owns 19,273 shares of the technology company’s stock valued at $2,808,000 after purchasing an additional 4,780 shares in the last quarter. Rakuten Investment Management Inc. acquired a new stake in shares of Arista Networks in the 3rd quarter valued at about $8,263,000. National Wealth Management Group LLC bought a new stake in Arista Networks in the 3rd quarter valued at about $1,296,000. Vanguard Group Inc. increased its position in Arista Networks by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 98,993,100 shares of the technology company’s stock valued at $10,127,984,000 after buying an additional 1,136,167 shares in the last quarter. Finally, Holocene Advisors LP acquired a new position in Arista Networks during the 2nd quarter worth approximately $247,451,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ANET. Rosenblatt Securities boosted their price objective on Arista Networks from $140.00 to $165.00 and gave the company a “neutral” rating in a report on Tuesday, February 10th. Barclays reiterated an “overweight” rating and issued a $184.00 target price (up from $183.00) on shares of Arista Networks in a report on Friday, February 13th. Weiss Ratings restated a “hold (c+)” rating on shares of Arista Networks in a research note on Monday, December 29th. UBS Group set a $200.00 price objective on shares of Arista Networks in a report on Tuesday, February 24th. Finally, Evercore reiterated an “outperform” rating and set a $200.00 price objective on shares of Arista Networks in a report on Friday, February 13th. Seventeen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $176.88.

Arista Networks Trading Down 4.5%

NYSE ANET opened at $133.15 on Friday. The business has a fifty day simple moving average of $134.45 and a 200 day simple moving average of $137.15. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $164.94. The firm has a market capitalization of $167.31 billion, a P/E ratio of 48.24, a PEG ratio of 2.47 and a beta of 1.46.

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

Insider Activity

In related news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $128.67, for a total transaction of $1,029,360.00. Following the completion of the sale, the director directly owned 1,784 shares of the company’s stock, valued at approximately $229,547.28. This trade represents a 81.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kenneth Duda sold 26,000 shares of Arista Networks stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $142.35, for a total value of $3,701,100.00. Following the sale, the insider owned 512,400 shares in the company, valued at $72,940,140. This trade represents a 4.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 196,237 shares of company stock valued at $25,865,760. 3.39% of the stock is currently owned by company insiders.

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.