ZEGA Investments LLC Buys 5,187 Shares of Arista Networks, Inc. $ANET

ZEGA Investments LLC lifted its stake in Arista Networks, Inc. (NYSE:ANET) by 133.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,079 shares of the technology company’s stock after acquiring an additional 5,187 shares during the period. ZEGA Investments LLC’s holdings in Arista Networks were worth $1,323,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Arista Networks in the 2nd quarter valued at $1,228,177,000. Nordea Investment Management AB grew its position in shares of Arista Networks by 193.3% in the second quarter. Nordea Investment Management AB now owns 7,065,054 shares of the technology company’s stock valued at $721,342,000 after purchasing an additional 4,656,021 shares during the last quarter. Holocene Advisors LP acquired a new stake in shares of Arista Networks in the second quarter valued at about $247,451,000. Robeco Institutional Asset Management B.V. increased its stake in shares of Arista Networks by 123.0% in the second quarter. Robeco Institutional Asset Management B.V. now owns 3,068,064 shares of the technology company’s stock worth $313,894,000 after purchasing an additional 1,692,467 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in shares of Arista Networks by 79.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,228,746 shares of the technology company’s stock worth $330,333,000 after purchasing an additional 1,428,491 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ANET shares. Zacks Research lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Needham & Company LLC upped their target price on shares of Arista Networks from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Rosenblatt Securities reissued a “neutral” rating and set a $140.00 target price on shares of Arista Networks in a research report on Monday, November 24th. Erste Group Bank cut Arista Networks from a “buy” rating to a “hold” rating in a report on Monday, November 10th. Finally, Morgan Stanley lowered their price objective on Arista Networks from $171.00 to $159.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 17th. Eighteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $164.44.

Insiders Place Their Bets

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $133.79, for a total transaction of $1,070,320.00. Following the sale, the director owned 17,784 shares of the company’s stock, valued at $2,379,321.36. This represents a 31.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kelly Bodnar Battles sold 422 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $117.15, for a total transaction of $49,437.30. Following the completion of the transaction, the director directly owned 8,980 shares of the company’s stock, valued at approximately $1,052,007. This represents a 4.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 216,464 shares of company stock valued at $28,488,988 in the last 90 days. Insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

ANET opened at $123.34 on Tuesday. The firm has a market cap of $155.32 billion, a price-to-earnings ratio of 46.90, a PEG ratio of 2.07 and a beta of 1.41. The firm’s 50-day simple moving average is $129.74 and its 200-day simple moving average is $132.31. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.26 billion. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.40 earnings per share. As a group, sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

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.