Sivia Capital Partners LLC Purchases New Holdings in Arista Networks, Inc. (NYSE:ANET)

Sivia Capital Partners LLC acquired a new position in shares of Arista Networks, Inc. (NYSE:ANET) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 716 shares of the technology company’s stock, valued at approximately $251,000.

A number of other institutional investors also recently made changes to their positions in ANET. FCG Investment Co lifted its position in shares of Arista Networks by 2.3% during the second quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock worth $445,000 after purchasing an additional 29 shares during the last quarter. Old Port Advisors lifted its holdings in Arista Networks by 3.5% during the 1st quarter. Old Port Advisors now owns 955 shares of the technology company’s stock worth $277,000 after buying an additional 32 shares during the last quarter. Fortitude Family Office LLC grew its position in shares of Arista Networks by 33.3% in the 2nd quarter. Fortitude Family Office LLC now owns 132 shares of the technology company’s stock worth $46,000 after acquiring an additional 33 shares in the last quarter. Resonant Capital Advisors LLC increased its holdings in shares of Arista Networks by 4.1% in the 2nd quarter. Resonant Capital Advisors LLC now owns 870 shares of the technology company’s stock valued at $305,000 after acquiring an additional 34 shares during the last quarter. Finally, Modera Wealth Management LLC raised its position in shares of Arista Networks by 2.1% during the 2nd quarter. Modera Wealth Management LLC now owns 1,782 shares of the technology company’s stock valued at $625,000 after acquiring an additional 37 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Arista Networks

In related news, CEO Jayshree Ullal sold 25,000 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $347.00, for a total value of $8,675,000.00. Following the transaction, the chief executive officer now owns 1,600,800 shares in the company, valued at $555,477,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Arista Networks news, SVP Marc Taxay sold 4,497 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $336.32, for a total value of $1,512,431.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jayshree Ullal sold 25,000 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $347.00, for a total value of $8,675,000.00. Following the transaction, the chief executive officer now directly owns 1,600,800 shares in the company, valued at approximately $555,477,600. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 126,300 shares of company stock valued at $44,194,544. Insiders own 3.54% of the company’s stock.

Arista Networks Stock Down 4.3 %

Shares of NYSE ANET opened at $314.37 on Friday. The stock has a market cap of $98.51 billion, a P/E ratio of 43.78, a P/E/G ratio of 2.78 and a beta of 1.11. The firm’s 50-day simple moving average is $343.09 and its 200 day simple moving average is $310.67. Arista Networks, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $376.50.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.38. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the firm posted $1.41 earnings per share. The firm’s revenue was up 15.9% on a year-over-year basis. On average, sell-side analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ANET has been the subject of a number of research reports. Barclays lifted their price objective on shares of Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price objective on shares of Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Piper Sandler raised their target price on shares of Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Evercore ISI upped their target price on Arista Networks from $340.00 to $400.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Finally, Wells Fargo & Company increased their price target on Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and a consensus target price of $358.63.

About Arista Networks

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.