6,482 Shares in Arista Networks, Inc. $ANET Purchased by Stableford Capital II LLC

Stableford Capital II LLC acquired a new stake in Arista Networks, Inc. (NYSE:ANET) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 6,482 shares of the technology company’s stock, valued at approximately $1,101,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ANET. Lighthouse Financial Services Inc. ADV bought a new position in shares of Arista Networks in the fourth quarter worth $1,549,000. Bensler LLC bought a new stake in shares of Arista Networks during the fourth quarter valued at about $6,350,000. QRG Capital Management Inc. raised its stake in shares of Arista Networks by 6.4% during the fourth quarter. QRG Capital Management Inc. now owns 169,613 shares of the technology company’s stock valued at $22,224,000 after purchasing an additional 10,217 shares in the last quarter. Reaves W H & Co. Inc. acquired a new stake in Arista Networks in the fourth quarter worth about $3,058,000. Finally, Jefferies Financial Group Inc. lifted its holdings in Arista Networks by 59.8% in the fourth quarter. Jefferies Financial Group Inc. now owns 17,621 shares of the technology company’s stock worth $2,309,000 after purchasing an additional 6,591 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Stock Up 2.8%

Shares of ANET stock opened at $185.33 on Tuesday. The stock has a 50-day simple moving average of $168.02 and a 200 day simple moving average of $150.69. Arista Networks, Inc. has a fifty-two week low of $114.52 and a fifty-two week high of $189.82. The stock has a market capitalization of $233.36 billion, a P/E ratio of 63.47, a P/E/G ratio of 2.77 and a beta of 1.60.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, May 5th. The technology company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.06. Arista Networks had a return on equity of 30.10% and a net margin of 38.32%.The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period in the previous year, the company earned $0.65 earnings per share. Arista Networks’s revenue was up 35.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Arista Networks, Inc. will post 3.28 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ANET shares. Morgan Stanley reiterated an “overweight” rating and issued a $190.00 target price (up from $180.00) on shares of Arista Networks in a research report on Friday, June 12th. Zacks Research downgraded shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. UBS Group reaffirmed a “buy” rating and issued a $187.00 price target (up from $177.00) on shares of Arista Networks in a research note on Wednesday, May 6th. KeyCorp reiterated an “overweight” rating and issued a $200.00 price objective (up from $178.00) on shares of Arista Networks in a report on Thursday, June 18th. Finally, Weiss Ratings lowered shares of Arista Networks from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $189.74.

Insider Buying and Selling at Arista Networks

In other news, insider Kenneth Duda sold 26,000 shares of the firm’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $170.51, for a total transaction of $4,433,260.00. Following the completion of the transaction, the insider owned 462,400 shares in the company, valued at approximately $78,843,824. This trade represents a 5.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jayshree Ullal sold 234,578 shares of Arista Networks stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $187.18, for a total transaction of $43,908,310.04. Following the completion of the transaction, the chief executive officer directly owned 5,134,207 shares in the company, valued at $961,020,866.26. This represents a 4.37% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 2,300,316 shares of company stock valued at $382,160,575 over the last 90 days. Insiders own 2.70% of the company’s stock.

Arista Networks 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.