Talos Asset Management LP Acquires Shares of 168,700 Arista Networks, Inc. (NYSE:ANET)

Talos Asset Management LP acquired a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 168,700 shares of the technology company’s stock, valued at approximately $18,646,000. Arista Networks accounts for 4.4% of Talos Asset Management LP’s holdings, making the stock its 8th biggest position.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Teacher Retirement System of Texas raised its position in Arista Networks by 463.8% during the fourth quarter. Teacher Retirement System of Texas now owns 1,000,675 shares of the technology company’s stock valued at $110,605,000 after purchasing an additional 823,193 shares during the period. Sandy Spring Bank grew its stake in shares of Arista Networks by 300.0% during the fourth quarter. Sandy Spring Bank now owns 528 shares of the technology company’s stock valued at $58,000 after buying an additional 396 shares during the last quarter. Harvest Fund Management Co. Ltd grew its stake in shares of Arista Networks by 501.7% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 45,978 shares of the technology company’s stock valued at $5,084,000 after buying an additional 38,337 shares during the last quarter. Glynn Capital Management LLC bought a new position in shares of Arista Networks during the fourth quarter valued at approximately $11,718,000. Finally, Vinva Investment Management Ltd grew its stake in shares of Arista Networks by 282.1% during the fourth quarter. Vinva Investment Management Ltd now owns 31,007 shares of the technology company’s stock valued at $3,456,000 after buying an additional 22,892 shares during the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 target price on shares of Arista Networks in a research note on Wednesday, February 19th. Barclays reaffirmed an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and upped their target price for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. Evercore ISI upped their target price on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Finally, Wells Fargo & Company reissued an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $114.00.

Arista Networks Trading Up 0.5 %

Shares of NYSE ANET opened at $84.38 on Thursday. The stock has a market capitalization of $106.42 billion, a PE ratio of 38.01, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. The stock’s fifty day simple moving average is $103.81 and its two-hundred day simple moving average is $101.77. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.58.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. On average, equities analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total transaction of $892,080.00. Following the completion of the sale, the director now owns 163,784 shares in the company, valued at approximately $18,263,553.84. This represents a 4.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kelly Bodnar Battles sold 1,488 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $107.13, for a total value of $159,409.44. Following the sale, the director now owns 8,128 shares of the company’s stock, valued at approximately $870,752.64. This represents a 15.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 491,001 shares of company stock worth $49,112,111. Insiders own 3.54% of the company’s stock.

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.