JAT Capital Mgmt LP Invests $1.95 Million in Arista Networks, Inc. (NYSE:ANET)

JAT Capital Mgmt LP bought a new stake in Arista Networks, Inc. (NYSE:ANET - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 17,633 shares of the technology company's stock, valued at approximately $1,949,000. Arista Networks accounts for 0.3% of JAT Capital Mgmt LP's investment portfolio, making the stock its 29th largest holding.

Several other hedge funds have also modified their holdings of the company. Caitlin John LLC increased its position in shares of Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company's stock worth $26,000 after purchasing an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC increased its stake in Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company's stock worth $27,000 after acquiring an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC increased its position in shares of Arista Networks by 300.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company's stock worth $29,000 after purchasing an additional 198 shares during the last quarter. Trust Co. of Vermont raised its stake in shares of Arista Networks by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company's stock valued at $29,000 after acquiring an additional 198 shares during the period. Finally, New Millennium Group LLC lifted its stake in Arista Networks by 300.0% during the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company's stock worth $29,000 after purchasing an additional 195 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Trading Down 0.2 %

Arista Networks stock traded down $0.23 during trading hours on Monday, reaching $90.80. 2,742,661 shares of the company were exchanged, compared to its average volume of 9,149,954. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $133.58. The firm has a market cap of $114.00 billion, a price-to-earnings ratio of 40.89, a PEG ratio of 3.10 and a beta of 1.38. The stock has a 50-day moving average of $79.15 and a 200 day moving average of $97.69.

Arista Networks (NYSE:ANET - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. As a group, research analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of Arista Networks from $140.00 to $110.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Citigroup decreased their target price on Arista Networks from $121.00 to $92.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Erste Group Bank cut shares of Arista Networks from a "strong-buy" rating to a "hold" rating in a report on Monday, March 17th. Evercore ISI decreased their price target on Arista Networks from $130.00 to $100.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating on shares of Arista Networks in a report on Monday, March 3rd. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $108.36.

Insider Transactions at Arista Networks

In related news, SVP Kenneth Duda sold 80,000 shares of the business's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $115.61, for a total value of $9,248,800.00. Following the sale, the senior vice president now directly owns 12,976 shares of the company's stock, valued at approximately $1,500,155.36. The trade was a 86.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kelly Bodnar Battles sold 1,488 shares of Arista Networks stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $107.13, for a total value of $159,409.44. Following the completion of the sale, the director now directly owns 8,128 shares in the company, valued at approximately $870,752.64. This represents a 15.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 404,355 shares of company stock worth $38,550,639. Insiders own 3.54% of the company's stock.

Arista Networks Profile

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.