Atlatl Advisers LLC Invests $1.37 Million in Arista Networks, Inc. $ANET

Atlatl Advisers LLC bought a new position in shares of Arista Networks, Inc. (NYSE:ANET) in the third quarter, Holdings Channel.com reports. The firm bought 9,383 shares of the technology company’s stock, valued at approximately $1,367,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Arista Networks during the second quarter worth $1,228,177,000. Massachusetts Financial Services Co. MA raised its stake in shares of Arista Networks by 2,829.0% during 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 purchasing an additional 5,525,828 shares during the period. Nordea Investment Management AB lifted its holdings in Arista Networks by 193.3% during the 2nd quarter. Nordea Investment Management AB now owns 7,065,054 shares of the technology company’s stock worth $721,342,000 after purchasing an additional 4,656,021 shares in the last quarter. Holocene Advisors LP bought a new position in Arista Networks in the 2nd quarter worth about $247,451,000. Finally, Schroder Investment Management Group grew its holdings in Arista Networks by 14.8% during the 2nd quarter. Schroder Investment Management Group now owns 10,494,124 shares of the technology company’s stock valued at $1,073,654,000 after buying an additional 1,350,593 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Arista Networks news, CEO Jayshree Ullal sold 24,042 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total transaction of $2,994,431.10. Following the completion of the sale, the chief executive officer owned 9,917 shares of the company’s stock, valued at $1,235,162.35. This represents a 70.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $133.79, for a total transaction of $1,070,320.00. Following the completion of the transaction, the director owned 17,784 shares in the company, valued at $2,379,321.36. The trade was a 31.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 208,464 shares of company stock valued at $26,430,108 in the last 90 days. 3.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ANET shares. Erste Group Bank downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Monday, November 10th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Arista Networks in a research note on Monday, December 29th. Barclays reissued an “overweight” rating and issued a $183.00 price target (up from $179.00) on shares of Arista Networks in a report on Wednesday, November 5th. Zacks Research cut shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, Piper Sandler raised Arista Networks from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $145.00 to $159.00 in a research note on Monday, January 5th. Seventeen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $164.44.

Arista Networks Trading Down 4.3%

ANET opened at $141.79 on Monday. The stock has a market capitalization of $178.55 billion, a P/E ratio of 53.91, a PEG ratio of 2.39 and a beta of 1.42. The stock has a 50-day moving average price of $130.99 and a 200-day moving average price of $135.47. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $164.94.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the previous year, the company posted $2.40 EPS. Arista Networks’s quarterly revenue was up 27.5% compared to the same quarter last year. On average, equities research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

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.