Graham Capital Management L.P. Has $2.76 Million Position in Arista Networks, Inc. (NYSE:ANET)

Graham Capital Management L.P. lifted its holdings in Arista Networks, Inc. (NYSE:ANET) by 37.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 24,931 shares of the technology company’s stock after buying an additional 6,843 shares during the quarter. Graham Capital Management L.P.’s holdings in Arista Networks were worth $2,756,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of ANET. 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 acquiring an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in Arista Networks by 335.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after purchasing an additional 191 shares in the last quarter. Cranbrook Wealth Management LLC raised its stake in shares of Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares during the period. Trust Co. of Vermont lifted its holdings in shares of Arista Networks by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares in the last quarter. Finally, New Millennium Group LLC boosted its position in shares of 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 buying an additional 195 shares during the period. 82.47% of the stock is owned by institutional investors.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,492 shares of the stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $68.49, for a total transaction of $102,187.08. Following the transaction, the director now owns 7,480 shares in the company, valued at $512,305.20. This represents a 16.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jayshree Ullal sold 138,351 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the transaction, the chief executive officer now directly owns 92,641 shares in the company, valued at $8,697,137.08. This represents a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 412,355 shares of company stock worth $37,216,079. Company insiders own 3.39% of the company’s stock.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $86.15 on Friday. The business has a fifty day simple moving average of $78.94 and a two-hundred day simple moving average of $97.31. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $133.58. The company has a market capitalization of $108.17 billion, a price-to-earnings ratio of 38.81, a P/E/G ratio of 3.10 and a beta of 1.38.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, May 6th. The technology company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.59 by $0.06. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.97 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. Arista Networks’s revenue was up 27.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.50 EPS. As a group, equities analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks declared that its board has approved a share buyback plan on Tuesday, May 6th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the technology company to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ANET shares. Piper Sandler restated a “neutral” rating and issued a $89.00 target price (up previously from $76.00) on shares of Arista Networks in a research note on Wednesday. Erste Group Bank cut shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, March 17th. Morgan Stanley lifted their price target on shares of Arista Networks from $73.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Citigroup increased their price objective on shares of Arista Networks from $92.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, KGI Securities downgraded Arista Networks to a “neutral” rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $106.07.

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.