Stableford Capital II LLC Purchases New Shares in Arista Networks, Inc. $ANET

Key Points

• Stableford Capital II LLC acquired 6,482 Arista Networks shares worth approximately $1.1 million in the second quarter. Institutional investors and hedge funds collectively own 82.47% of the company.
• Arista reported quarterly EPS of $0.87, exceeding the $0.81 consensus estimate, while revenue rose 35.1% year over year to $2.71 billion. The stock recently traded at $185.33, near its 52-week high.
• Analysts maintain a broad bullish view, with a consensus “Buy” rating and a $189.74 average price target. However, insiders sold roughly 2.3 million shares worth $382.2 million during the last quarter, including substantial sales by CEO Jayshree Ullal.

Stableford Capital II LLC purchased a new position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,482 shares of the technology company's stock, valued at approximately $1,101,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Sankala Group LLC acquired a new stake in shares of Arista Networks during the fourth quarter valued at about $27,000. Prosperity Bancshares Inc acquired a new position in shares of Arista Networks in the fourth quarter worth about $28,000. Main Street Group LTD acquired a new position in shares of Arista Networks in the first quarter worth about $26,000. Quarry LP purchased a new position in Arista Networks in the third quarter valued at about $33,000. Finally, Ameliora Wealth Management Ltd. purchased a new position in Arista Networks in the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 82.47% of the company's stock.

Arista Networks Stock Performance

Arista Networks stock opened at $185.33 on Tuesday. The firm's 50-day moving average is $168.02 and its 200-day moving average is $150.69. Arista Networks, Inc. has a 1 year low of $114.52 and a 1 year high of $189.82. The company has a market cap of $233.36 billion, a P/E ratio of 63.47, a PEG ratio of 2.77 and a beta of 1.60.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.81 by $0.06. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.62 billion. Arista Networks had a net margin of 38.32% and a return on equity of 30.10%. The company's quarterly revenue was up 35.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 EPS. As a group, sell-side analysts predict that Arista Networks, Inc. will post 3.28 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Barclays restated an "overweight" rating and set a $195.00 price objective (up from $184.00) on shares of Arista Networks in a research note on Thursday, May 7th. KeyCorp reiterated an "overweight" rating and set a $200.00 target price (up from $178.00) on shares of Arista Networks in a research note on Thursday, June 18th. Bank of America raised their price target on shares of Arista Networks from $185.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, June 8th. Wolfe Research restated an "outperform" rating and issued a $175.00 price target on shares of Arista Networks in a research note on Wednesday, June 10th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $190.00 price target (up from $180.00) on shares of Arista Networks in a report on Friday, June 12th. Two investment 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 stock currently has a consensus rating of "Buy" and a consensus target price of $189.74.

Insiders Place Their Bets

In related news, insider Kenneth Duda sold 32,000 shares of the firm's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $140.08, for a total value of $4,482,560.00. Following the sale, the insider owned 12,976 shares of the company's stock, valued at approximately $1,817,678.08. This trade represents a 71.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jayshree Ullal sold 242,422 shares of the business's stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $188.17, for a total value of $45,616,547.74. Following the transaction, the chief executive officer owned 5,171,095 shares of the company's stock, valued at $973,044,946.15. This represents a 4.48% 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 have sold 2,300,316 shares of company stock valued at $382,160,575 over the last quarter. 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.

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