SPX Gestao de Recursos Ltda Purchases New Stake in Arista Networks, Inc. $ANET

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

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bare Financial Services Inc increased its stake in shares of Arista Networks by 2,118.2% during 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 last quarter. AdvisorNet Financial Inc grew its holdings in Arista Networks by 56.7% during the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after purchasing an additional 72 shares during the period. Richardson Financial Services Inc. increased its position in Arista Networks by 141.3% in the third quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock worth $32,000 after buying an additional 130 shares during the last quarter. SJS Investment Consulting Inc. raised its stake in shares of Arista Networks by 979.2% in the third quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock valued at $38,000 after buying an additional 235 shares during the period. Finally, Guerra Advisors Inc purchased a new position in shares of Arista Networks during the 3rd quarter valued at $41,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ANET. Evercore reissued an “outperform” rating and issued a $200.00 price objective on shares of Arista Networks in a report on Friday, February 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Arista Networks in a research report on Monday, December 29th. KeyCorp reiterated an “overweight” rating and issued a $178.00 target price (up from $170.00) on shares of Arista Networks in a research note on Friday, February 13th. The Goldman Sachs Group reissued a “buy” rating and issued a $188.00 price target (up from $165.00) on shares of Arista Networks in a research report on Friday, February 13th. Finally, Morgan Stanley restated an “overweight” rating and set a $165.00 price target on shares of Arista Networks in a research note on Friday, February 13th. Seventeen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Arista Networks has an average rating of “Moderate Buy” and a consensus price target of $176.88.

Arista Networks Trading Down 4.5%

Shares of Arista Networks stock opened at $133.15 on Friday. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $164.94. The company has a market cap of $167.31 billion, a price-to-earnings ratio of 48.24, a PEG ratio of 2.47 and a beta of 1.46. The company’s 50-day moving average price is $134.45 and its 200-day moving average price is $137.15.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, February 12th. The technology company reported $0.82 EPS for the quarter, beating 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 company had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter in the previous year, the company earned $0.66 earnings per share. Arista Networks’s revenue for the quarter was up 28.9% on a year-over-year basis. On average, sell-side analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Activity

In other news, Director Yvonne Wassenaar sold 1,815 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $132.44, for a total value of $240,378.60. Following the transaction, the director owned 12,574 shares of the company’s stock, valued at approximately $1,665,300.56. This represents a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $140.43, for a total value of $1,123,440.00. Following the completion of 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 196,237 shares of company stock worth $25,865,760 in the last three months. Corporate insiders own 3.39% 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.