Numerai GP LLC Has $2.08 Million Stock Holdings in Arista Networks, Inc. $ANET

Numerai GP LLC lowered its position in Arista Networks, Inc. (NYSE:ANET) by 46.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 14,243 shares of the technology company’s stock after selling 12,463 shares during the quarter. Numerai GP LLC’s holdings in Arista Networks were worth $2,075,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Norges Bank acquired a new position in Arista Networks in the 2nd quarter valued at approximately $1,228,177,000. Massachusetts Financial Services Co. MA raised its stake in shares of 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 acquiring an additional 5,525,828 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Arista Networks by 82.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 9,587,115 shares of the technology company’s stock worth $1,396,939,000 after purchasing an additional 4,332,659 shares during the period. Holocene Advisors LP bought a new stake in shares of Arista Networks in the second quarter worth $247,451,000. Finally, Schroder Investment Management Group grew 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 worth $1,073,654,000 after purchasing an additional 1,350,593 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Up 1.3%

ANET stock opened at $135.37 on Tuesday. The firm has a market capitalization of $170.09 billion, a PE ratio of 49.05, a P/E/G ratio of 2.37 and a beta of 1.46. The stock’s 50 day moving average is $134.82 and its 200-day moving average is $137.34. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94.

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. The firm had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.38 billion. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The business’s revenue was up 28.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.66 EPS. On average, equities research analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Yvonne Wassenaar sold 1,815 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The stock was 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 in the company, valued at $1,665,300.56. The trade was a 12.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kenneth Duda sold 32,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were 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 directly owned 12,976 shares of the company’s stock, valued at approximately $1,848,301.44. This represents a 71.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 196,237 shares of company stock worth $25,865,760. 3.54% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Rosenblatt Securities raised their target price on Arista Networks from $140.00 to $165.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. KeyCorp reiterated an “overweight” rating and issued a $178.00 price target (up from $170.00) on shares of Arista Networks in a research report on Friday, February 13th. Barclays reissued an “overweight” rating and issued a $184.00 price target (up from $183.00) on shares of Arista Networks in a research note on Friday, February 13th. Evercore restated an “outperform” rating and set a $200.00 price objective on shares of Arista Networks in a research report on Friday, February 13th. Finally, Wells Fargo & Company upped their price target on shares of Arista Networks from $175.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Eighteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $176.47.

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.