Stevens Capital Management LP Invests $9.70 Million in Arista Networks, Inc. (ANET)
Stevens Capital Management LP purchased a new stake in shares of Arista Networks, Inc. (NYSE:ANET) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 64,752 shares of the technology company’s stock, valued at approximately $9,699,000. Stevens Capital Management LP owned about 0.09% of Arista Networks at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in ANET. BlackRock Inc. lifted its holdings in shares of Arista Networks by 34,238.9% during the 1st quarter. BlackRock Inc. now owns 1,684,322 shares of the technology company’s stock valued at $222,784,000 after buying an additional 1,679,417 shares during the last quarter. Harbour Capital Advisors LLC lifted its holdings in shares of Arista Networks by 13,502.2% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,228,278 shares of the technology company’s stock valued at $8,200,000 after buying an additional 1,219,248 shares during the last quarter. FMR LLC lifted its holdings in shares of Arista Networks by 32.2% during the 1st quarter. FMR LLC now owns 3,288,755 shares of the technology company’s stock valued at $435,004,000 after buying an additional 800,465 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Arista Networks by 12.8% during the 1st quarter. Vanguard Group Inc. now owns 3,514,246 shares of the technology company’s stock valued at $464,830,000 after buying an additional 399,688 shares during the last quarter. Finally, Ardevora Asset Management LLP acquired a new stake in shares of Arista Networks during the 2nd quarter valued at about $36,384,000. Institutional investors and hedge funds own 59.40% of the company’s stock.
In related news, SVP Marc Taxay sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $148.52, for a total transaction of $297,040.00. Following the transaction, the senior vice president now directly owns 11,775 shares of the company’s stock, valued at approximately $1,748,823. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Kenneth Duda sold 8,687 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $174.94, for a total value of $1,519,703.78. Following the sale, the senior vice president now directly owns 1,593 shares of the company’s stock, valued at $278,679.42. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 634,332 shares of company stock worth $106,156,949. 28.09% of the stock is owned by company insiders.
Arista Networks, Inc. (NYSE:ANET) traded up 1.15% during trading on Friday, reaching $176.96. The company’s stock had a trading volume of 1,380,477 shares. The stock has a market cap of $12.83 billion, a price-to-earnings ratio of 45.67 and a beta of 1.30. The firm has a 50 day moving average price of $169.27 and a 200-day moving average price of $148.96. Arista Networks, Inc. has a 52-week low of $78.82 and a 52-week high of $179.71.
Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.15. Arista Networks had a return on equity of 22.64% and a net margin of 21.74%. The business had revenue of $405.21 million for the quarter, compared to the consensus estimate of $361.02 million. During the same period in the prior year, the business earned $0.74 EPS. The firm’s revenue for the quarter was up 50.8% on a year-over-year basis. On average, analysts expect that Arista Networks, Inc. will post $4.70 earnings per share for the current year.
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Several research firms recently weighed in on ANET. Needham & Company LLC restated a “buy” rating and issued a $150.00 target price on shares of Arista Networks in a report on Tuesday, July 4th. Zacks Investment Research lowered Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Stifel Nicolaus restated a “hold” rating and issued a $145.00 target price on shares of Arista Networks in a report on Friday, July 21st. BidaskClub lowered Arista Networks from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 4th. Finally, Barclays PLC boosted their target price on Arista Networks from $161.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, June 15th. Sixteen investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Arista Networks presently has an average rating of “Buy” and a consensus price target of $155.29.
Arista Networks Company Profile
Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.
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