Walleye Capital LLC Invests $1.11 Million in Arista Networks, Inc. (NYSE:ANET)

Walleye Capital LLC bought a new position in shares of Arista Networks, Inc. (NYSE:ANETGet Rating) during the 1st quarter, Holdings Channel reports. The fund bought 7,949 shares of the technology company’s stock, valued at approximately $1,105,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vestmark Advisory Solutions Inc. grew its position in Arista Networks by 3.5% during the first quarter. Vestmark Advisory Solutions Inc. now owns 2,729 shares of the technology company’s stock worth $379,000 after buying an additional 92 shares during the period. Concentrum Wealth Management increased its position in shares of Arista Networks by 2.5% in the first quarter. Concentrum Wealth Management now owns 4,018 shares of the technology company’s stock valued at $558,000 after buying an additional 98 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Arista Networks by 0.7% in the first quarter. Louisiana State Employees Retirement System now owns 14,200 shares of the technology company’s stock valued at $1,806,000 after buying an additional 100 shares in the last quarter. Hillsdale Investment Management Inc. increased its position in shares of Arista Networks by 2.2% in the first quarter. Hillsdale Investment Management Inc. now owns 4,620 shares of the technology company’s stock valued at $643,000 after buying an additional 100 shares in the last quarter. Finally, Green Alpha Advisors LLC increased its position in shares of Arista Networks by 1.0% in the first quarter. Green Alpha Advisors LLC now owns 10,404 shares of the technology company’s stock valued at $1,446,000 after buying an additional 108 shares in the last quarter. 63.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Marc Taxay sold 1,040 shares of the firm’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $93.14, for a total value of $96,865.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Charles H. Giancarlo sold 6,660 shares of Arista Networks stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $92.70, for a total transaction of $617,382.00. Following the sale, the director now directly owns 105,606 shares of the company’s stock, valued at $9,789,676.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Marc Taxay sold 1,040 shares of Arista Networks stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $93.14, for a total value of $96,865.60. The disclosure for this sale can be found here. Insiders have sold 268,229 shares of company stock valued at $32,746,091 over the last three months. 19.59% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ANET. Citigroup raised their price target on Arista Networks from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd. Piper Sandler lifted their price objective on Arista Networks from $108.00 to $125.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 2nd. Barclays dropped their price objective on Arista Networks from $138.00 to $131.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 2nd. Rosenblatt Securities lifted their price objective on Arista Networks from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Finally, Bank of America cut Arista Networks from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $140.00 to $105.00 in a research report on Wednesday, July 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and an average price target of $156.40.

Arista Networks Trading Down 1.0 %

Shares of ANET opened at $115.73 on Monday. The firm has a market capitalization of $35.21 billion, a P/E ratio of 35.69, a price-to-earnings-growth ratio of 1.76 and a beta of 1.33. The stock’s fifty day simple moving average is $117.54 and its 200 day simple moving average is $114.71. Arista Networks, Inc. has a twelve month low of $85.18 and a twelve month high of $148.57.

Arista Networks (NYSE:ANETGet Rating) last issued its earnings results on Monday, August 1st. The technology company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.20. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $979.66 million. Arista Networks had a return on equity of 24.03% and a net margin of 29.55%. The business’s quarterly revenue was up 48.7% on a year-over-year basis. During the same period last year, the company posted $0.56 EPS. Sell-side analysts predict that Arista Networks, Inc. will post 3.53 earnings per share for the current year.

Arista Networks Company Profile

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Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms.

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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