Quantbot Technologies LP Has $6.79 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Quantbot Technologies LP boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 100.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,369 shares of the technology company’s stock after purchasing an additional 9,711 shares during the quarter. Quantbot Technologies LP’s holdings in Arista Networks were worth $6,788,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Beacon Capital Management LLC raised its stake in Arista Networks by 500.0% during the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after buying an additional 65 shares during the period. LGT Financial Advisors LLC bought a new stake in Arista Networks during the 2nd quarter valued at $27,000. Benjamin Edwards Inc. acquired a new position in Arista Networks during the first quarter worth $26,000. Byrne Asset Management LLC bought a new position in shares of Arista Networks in the second quarter valued at $33,000. Finally, Sugarloaf Wealth Management LLC acquired a new position in shares of Arista Networks during the second quarter valued at about $35,000. 82.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of analyst reports. Erste Group Bank restated a “buy” rating on shares of Arista Networks in a report on Friday, June 14th. Bank of America increased their price objective on Arista Networks from $320.00 to $380.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. JPMorgan Chase & Co. lifted their target price on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. UBS Group raised their price objective on Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Finally, Barclays increased their target price on shares of Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $358.63.

Arista Networks Price Performance

NYSE:ANET opened at $359.76 on Monday. The company has a market cap of $113.02 billion, a P/E ratio of 50.11, a P/E/G ratio of 2.70 and a beta of 1.07. Arista Networks, Inc. has a 1 year low of $168.25 and a 1 year high of $376.50. The stock’s fifty day moving average price is $341.07 and its two-hundred day moving average price is $313.92.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, topping the consensus estimate of $1.72 by $0.38. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter last year, the company earned $1.41 EPS. The firm’s revenue was up 15.9% compared to the same quarter last year. On average, analysts expect that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Insider Activity at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $357.00, for a total value of $8,925,000.00. Following the completion of the sale, the chief executive officer now owns 1,595,800 shares of the company’s stock, valued at $569,700,600. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Arista Networks news, CEO Jayshree Ullal sold 25,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $357.00, for a total value of $8,925,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,595,800 shares of the company’s stock, valued at $569,700,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $370.70, for a total value of $7,414,000.00. Following the transaction, the senior vice president now directly owns 3,244 shares in the company, valued at $1,202,550.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 106,989 shares of company stock valued at $37,891,416. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Company 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.