Y Intercept Hong Kong Ltd Invests $1.71 Million in Arista Networks, Inc. $ANET

Y Intercept Hong Kong Ltd purchased a new position in Arista Networks, Inc. (NYSE:ANET) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 11,705 shares of the technology company’s stock, valued at approximately $1,706,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Arista Networks in the second quarter valued at about $1,228,177,000. Massachusetts Financial Services Co. MA lifted its stake in Arista Networks by 2,829.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,721,156 shares of the technology company’s stock valued at $833,630,000 after buying an additional 5,525,828 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Arista Networks by 193.3% in the 2nd quarter. Nordea Investment Management AB now owns 7,065,054 shares of the technology company’s stock worth $721,342,000 after buying an additional 4,656,021 shares during the last quarter. Holocene Advisors LP acquired a new stake in Arista Networks in the 2nd quarter worth about $247,451,000. Finally, Robeco Institutional Asset Management B.V. increased its stake in Arista Networks by 123.0% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 3,068,064 shares of the technology company’s stock worth $313,894,000 after buying an additional 1,692,467 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Stock Performance

ANET opened at $148.11 on Friday. The stock has a market capitalization of $186.51 billion, a PE ratio of 56.31, a P/E/G ratio of 2.53 and a beta of 1.41. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $164.94. The business’s 50 day moving average price is $130.50 and its 200 day moving average price is $134.85.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, November 4th. The technology company reported $0.75 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 for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the previous year, the business earned $2.40 earnings per share. The company’s revenue for the quarter was up 27.5% on a year-over-year basis. As a group, equities research analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Activity at Arista Networks

In other Arista Networks news, insider Kenneth Duda sold 26,000 shares of the company’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $128.43, for a total value of $3,339,180.00. Following the transaction, the insider owned 522,400 shares of the company’s stock, valued at $67,091,832. This represents a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jayshree Ullal sold 24,042 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total transaction of $2,994,431.10. Following the transaction, the chief executive officer directly owned 9,917 shares of the company’s stock, valued at approximately $1,235,162.35. This trade represents a 70.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 216,464 shares of company stock valued at $27,687,068 in the last quarter. Corporate insiders own 3.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Zacks Research downgraded Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. UBS Group reaffirmed a “buy” rating and set a $155.00 target price on shares of Arista Networks in a report on Wednesday, December 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Arista Networks in a research report on Monday, December 29th. Rosenblatt Securities reissued a “neutral” rating and issued a $140.00 price target on shares of Arista Networks in a research note on Monday, November 24th. Finally, Erste Group Bank lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. Seventeen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $164.44.

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.