Arista Networks, Inc. $ANET is M & L Capital Management Ltd’s 8th Largest Position

M & L Capital Management Ltd lessened its position in Arista Networks, Inc. (NYSE:ANET) by 64.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,000 shares of the technology company’s stock after selling 154,800 shares during the period. Arista Networks comprises 2.3% of M & L Capital Management Ltd’s portfolio, making the stock its 8th largest holding. M & L Capital Management Ltd’s holdings in Arista Networks were worth $11,269,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Bare Financial Services Inc raised its holdings in Arista Networks by 2,118.2% in the 2nd 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 last quarter. Board of the Pension Protection Fund acquired a new stake in shares of Arista Networks during the fourth quarter worth $26,000. AdvisorNet Financial Inc boosted its holdings in shares of Arista Networks by 56.7% during the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after purchasing an additional 72 shares during the last quarter. Knuff & Co LLC purchased a new stake in shares of Arista Networks in the third quarter valued at $29,000. Finally, Richardson Financial Services Inc. grew its position in shares of Arista Networks by 141.3% in the third 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 period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In other news, Director Yvonne Wassenaar sold 1,395 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $134.34, for a total value of $187,404.30. Following the completion of the sale, the director owned 11,179 shares of the company’s stock, valued at $1,501,786.86. This represents a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kenneth Duda sold 32,000 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $134.14, for a total transaction of $4,292,480.00. Following the completion of the transaction, the insider directly owned 12,976 shares in the company, valued at approximately $1,740,600.64. This represents a 71.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 199,632 shares of company stock valued at $26,936,324 in the last ninety days. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

NYSE ANET opened at $135.98 on Tuesday. The firm has a market capitalization of $170.87 billion, a P/E ratio of 49.27, a P/E/G ratio of 2.32 and a beta of 1.46. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $164.94. The business’s 50-day simple moving average is $135.61 and its 200-day simple moving average is $137.24.

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 analysts’ consensus estimates of $0.75 by $0.07. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the prior year, the company earned $0.66 EPS. The company’s revenue was up 28.9% on a year-over-year basis. On average, equities research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on ANET. Weiss Ratings reiterated a “hold (c+)” rating on shares of Arista Networks in a research report on Monday, December 29th. TD Cowen initiated coverage on Arista Networks in a report on Thursday, March 12th. They issued a “buy” rating and a $170.00 price target for the company. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Arista Networks in a research note on Friday, February 13th. The Goldman Sachs Group reiterated a “buy” rating and set a $188.00 price objective (up from $165.00) on shares of Arista Networks in a report on Friday, February 13th. Finally, Rosenblatt Securities raised their target price on shares of Arista Networks from $140.00 to $165.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Eighteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and a consensus price target of $176.47.

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.