Numerai GP LLC Has $2.08 Million Stock Position in Arista Networks, Inc. $ANET

Numerai GP LLC lessened its holdings in Arista Networks, Inc. (NYSE:ANET) by 46.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,243 shares of the technology company’s stock after selling 12,463 shares during the quarter. Numerai GP LLC’s holdings in Arista Networks were worth $2,075,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Bare Financial Services Inc boosted its holdings in Arista Networks by 2,118.2% in the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after purchasing an additional 233 shares during the period. AdvisorNet Financial Inc grew its position in shares of Arista Networks by 56.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after purchasing an additional 72 shares in the last quarter. Knuff & Co LLC bought a new position in shares of Arista Networks during the third quarter worth approximately $29,000. Richardson Financial Services Inc. raised its position in shares of Arista Networks by 141.3% in the third quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock valued at $32,000 after buying an additional 130 shares in the last quarter. Finally, SJS Investment Consulting Inc. raised its position in shares of Arista Networks by 979.2% in the third quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock valued at $38,000 after buying an additional 235 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Stock Up 1.3%

Arista Networks stock opened at $135.37 on Tuesday. The stock has a market cap of $170.09 billion, a PE ratio of 49.05, a P/E/G ratio of 2.37 and a beta of 1.46. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $164.94. The business’s 50-day moving average price is $134.82 and its two-hundred day moving average price is $137.34.

Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, February 12th. The technology company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.07. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The firm had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter in the prior year, the business earned $0.66 earnings per share. The business’s revenue for the quarter was up 28.9% compared to the same quarter last year. As a group, analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Wall Street Analyst Weigh In

ANET has been the topic of a number of analyst reports. TD Cowen started coverage on Arista Networks in a research report on Thursday, March 12th. They set a “buy” rating and a $170.00 price target on the stock. Barclays reaffirmed an “overweight” rating and issued a $184.00 price objective (up from $183.00) on shares of Arista Networks in a report on Friday, February 13th. Evercore reissued an “outperform” rating and set a $200.00 target price on shares of Arista Networks in a report on Friday, February 13th. Weiss Ratings restated a “hold (c+)” rating on shares of Arista Networks in a research report on Monday, December 29th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $178.00 price target (up from $170.00) on shares of Arista Networks in a research note on Friday, February 13th. Eighteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $176.47.

Insider Activity at Arista Networks

In other news, Director Yvonne Wassenaar sold 1,815 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $132.44, for a total transaction of $240,378.60. Following the completion of the transaction, the director directly owned 12,574 shares in the company, valued at approximately $1,665,300.56. This represents a 12.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $140.43, for a total value of $1,123,440.00. Following the completion of the transaction, the director owned 9,784 shares of the company’s stock, valued at $1,373,967.12. The trade was a 44.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 196,237 shares of company stock valued at $25,865,760 in the last quarter. Insiders own 3.54% of the company’s stock.

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.