NEOS Investment Management LLC Has $18.41 Million Stake in Arista Networks, Inc. $ANET

NEOS Investment Management LLC grew its holdings in Arista Networks, Inc. (NYSE:ANET) by 60.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 126,346 shares of the technology company’s stock after buying an additional 47,357 shares during the quarter. NEOS Investment Management LLC’s holdings in Arista Networks were worth $18,410,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bare Financial Services Inc grew its position in Arista Networks by 2,118.2% in the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after acquiring an additional 233 shares during the period. AdvisorNet Financial Inc increased its position in shares of Arista Networks by 56.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after purchasing an additional 72 shares in the last quarter. Richardson Financial Services Inc. lifted its holdings in Arista Networks by 141.3% during the 3rd quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock valued at $32,000 after purchasing an additional 130 shares during the last quarter. SJS Investment Consulting Inc. boosted its position in 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 in the last quarter. Finally, Solstein Capital LLC grew its stake in Arista Networks by 493.8% during the second quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock worth $39,000 after buying an additional 316 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 24,042 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total value of $2,994,431.10. Following the completion of the sale, the chief executive officer directly owned 9,917 shares of the company’s stock, valued at $1,235,162.35. The trade was a 70.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kelly Bodnar Battles sold 422 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $117.15, for a total value of $49,437.30. Following the transaction, the director directly owned 8,980 shares in the company, valued at $1,052,007. This trade represents a 4.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 160,464 shares of company stock worth $20,351,388 in the last quarter. 3.39% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ANET. UBS Group reaffirmed a “buy” rating and issued a $177.00 target price on shares of Arista Networks in a research note on Friday. Needham & Company LLC lifted their price target on shares of Arista Networks from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Barclays reiterated an “overweight” rating and issued a $184.00 price objective (up previously from $183.00) on shares of Arista Networks in a report on Friday. Evercore reissued an “outperform” rating and issued a $200.00 price target on shares of Arista Networks in a research note on Friday. Finally, KeyCorp reissued an “overweight” rating and set a $178.00 target price (up from $170.00) on shares of Arista Networks in a research note on Friday. Seventeen research 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 price target of $175.44.

Arista Networks Trading Up 0.6%

Shares of Arista Networks stock opened at $142.48 on Wednesday. The company’s 50-day moving average price is $133.56 and its 200-day moving average price is $137.40. 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 $179.42 billion, a price-to-earnings ratio of 51.62, a PEG ratio of 2.39 and a beta of 1.42.

Arista Networks (NYSE:ANET) last announced its earnings results on Thursday, February 12th. The technology company reported $0.82 earnings per share (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 business had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same period in the previous year, the business posted $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.

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.