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

Quantbot Technologies LP raised its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 100.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,369 shares of the technology company’s stock after buying 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 reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Arista Networks by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock valued at $6,946,338,000 after purchasing an additional 1,596,040 shares in the last quarter. Capital World Investors increased its position in shares of Arista Networks by 0.5% in the 4th quarter. Capital World Investors now owns 10,136,348 shares of the technology company’s stock valued at $2,387,211,000 after buying an additional 55,312 shares in the last quarter. WCM Investment Management LLC raised its stake in Arista Networks by 0.8% during the 1st quarter. WCM Investment Management LLC now owns 3,049,416 shares of the technology company’s stock worth $884,270,000 after buying an additional 25,196 shares during the period. GQG Partners LLC bought a new position in Arista Networks during the first quarter worth about $881,848,000. Finally, Norges Bank acquired a new position in Arista Networks in the fourth quarter valued at about $586,051,000. 82.47% of the stock is owned by institutional investors.

Insider Activity at Arista Networks

In related news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $352.93, for a total value of $705,860.00. Following the completion of the transaction, the director now owns 52,946 shares of the company’s stock, valued at approximately $18,686,231.78. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $352.93, for a total value of $705,860.00. Following the completion of the transaction, the director now owns 52,946 shares in the company, valued at approximately $18,686,231.78. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jayshree Ullal sold 25,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 1,595,800 shares of the company’s stock, valued at $569,700,600. 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. 3.54% of the stock is owned by insiders.

Arista Networks Price Performance

NYSE ANET opened at $359.76 on Monday. The business has a fifty day moving average price of $341.07 and a two-hundred day moving average price of $313.92. The stock has a market capitalization of $113.02 billion, a PE ratio of 50.11, a PEG ratio of 2.70 and a beta of 1.07. 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 earnings per share 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 period in the prior year, the company earned $1.41 EPS. Arista Networks’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, sell-side analysts expect that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ANET shares. Rosenblatt Securities boosted their price objective on Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $375.00 price objective on shares of Arista Networks in a research report on Wednesday, July 31st. Citigroup boosted their target price on Arista Networks from $330.00 to $385.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Jefferies Financial Group lifted their price objective on shares of Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Barclays raised their target price on shares of Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and a consensus target price of $358.63.

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.