45,083 Shares in Arista Networks, Inc. $ANET Acquired by Jain Global LLC

Key Points

• Jain Global LLC opened a new position in Arista Networks by buying 45,083 shares in the third quarter, a stake valued at about $6.57 million, while institutional investors now own 82.47% of the company.
• Significant insider selling has occurred recently: CTO Kenneth Duda sold 32,000 shares for roughly $4.56 million, and company insiders sold a total of 196,237 shares (about $25.9 million) in the past 90 days, with insiders owning 3.54% of the stock.
• Arista recently beat quarterly estimates (EPS $0.82 vs. $0.75; revenue $2.49B vs. $2.38B, up 28.9% YoY) and Wall Street is bullish—analysts have raised price targets and the consensus rating is a Moderate Buy with an average target around $176.47.

Jain Global LLC purchased a new position in Arista Networks, Inc. (NYSE:ANET - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 45,083 shares of the technology company's stock, valued at approximately $6,569,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of Arista Networks by 321.7% in the 4th quarter. Brighton Jones LLC now owns 7,806 shares of the technology company's stock worth $863,000 after purchasing an additional 5,955 shares in the last quarter. Revolve Wealth Partners LLC bought a new stake in Arista Networks during the 4th quarter valued at $202,000. Bison Wealth LLC acquired a new position in Arista Networks during the fourth quarter worth $251,000. Sivia Capital Partners LLC lifted its stake in shares of Arista Networks by 48.4% in the second quarter. Sivia Capital Partners LLC now owns 10,723 shares of the technology company's stock valued at $1,097,000 after buying an additional 3,496 shares in the last quarter. Finally, Foundations Investment Advisors LLC lifted its stake in shares of Arista Networks by 67.0% in the second quarter. Foundations Investment Advisors LLC now owns 11,787 shares of the technology company's stock valued at $1,206,000 after buying an additional 4,728 shares in the last quarter. Institutional investors own 82.47% of the company's stock.

Insider Buying and Selling at Arista Networks

In other news, insider Kenneth Duda sold 32,000 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $142.44, for a total transaction of $4,558,080.00. Following the completion of the transaction, the insider owned 12,976 shares in the company, valued at approximately $1,848,301.44. This represents a 71.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Yvonne Wassenaar sold 1,815 shares of Arista Networks stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $132.44, for a total value of $240,378.60. Following the completion of the sale, the director directly owned 12,574 shares of the company's stock, valued at approximately $1,665,300.56. This trade represents a 12.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 196,237 shares of company stock valued at $25,865,760. Company insiders own 3.54% of the company's stock.

Arista Networks Stock Up 1.3%

ANET opened at $135.37 on Tuesday. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94. The company's 50-day moving average price is $134.82 and its two-hundred day moving average price is $137.34. The stock has a market cap of $170.09 billion, a price-to-earnings ratio of 49.05, a PEG ratio of 2.37 and a beta of 1.46.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly 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 company 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%. Arista Networks's quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.66 EPS. As a group, sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ANET has been the subject of several recent research reports. Wells Fargo & Company boosted their target price on shares of Arista Networks from $175.00 to $185.00 and gave the stock an "overweight" rating in a research report on Friday, February 13th. Barclays reaffirmed an "overweight" rating and issued a $184.00 price target (up from $183.00) on shares of Arista Networks in a research report on Friday, February 13th. Needham & Company LLC lifted their price target on Arista Networks from $165.00 to $185.00 and gave the company a "buy" rating in a research note on Friday, February 13th. Weiss Ratings reissued a "hold (c+)" rating on shares of Arista Networks in a research note on Monday, December 29th. Finally, Evercore restated an "outperform" rating and issued a $200.00 target price on shares of Arista Networks in a report on Friday, February 13th. Eighteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Arista Networks presently has an average rating of "Moderate Buy" and an average price target 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.

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