Rheos Capital Works Inc. Has $10.56 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Rheos Capital Works Inc. grew its position in Arista Networks, Inc. (NYSE:ANET) by 34.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,500 shares of the technology company’s stock after purchasing an additional 7,000 shares during the period. Rheos Capital Works Inc.’s holdings in Arista Networks were worth $10,555,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. First Affirmative Financial Network boosted its stake in shares of Arista Networks by 4.3% in the 3rd quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock valued at $262,000 after purchasing an additional 28 shares in the last quarter. FCG Investment Co boosted its stake in shares of Arista Networks by 2.3% in the 2nd quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock valued at $445,000 after purchasing an additional 29 shares in the last quarter. Everpar Advisors LLC boosted its stake in shares of Arista Networks by 1.5% in the 3rd quarter. Everpar Advisors LLC now owns 1,907 shares of the technology company’s stock valued at $732,000 after purchasing an additional 29 shares in the last quarter. Old Port Advisors boosted its stake in shares of Arista Networks by 3.5% in the 1st quarter. Old Port Advisors now owns 955 shares of the technology company’s stock valued at $277,000 after purchasing an additional 32 shares in the last quarter. Finally, IAM Advisory LLC lifted its position in Arista Networks by 1.8% during the 3rd quarter. IAM Advisory LLC now owns 1,858 shares of the technology company’s stock worth $713,000 after buying an additional 32 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Price Performance

Shares of ANET stock opened at $406.30 on Thursday. The stock has a market cap of $127.32 billion, a PE ratio of 56.59, a price-to-earnings-growth ratio of 3.21 and a beta of 1.07. The stock has a 50-day moving average of $364.47 and a 200-day moving average of $330.06. Arista Networks, Inc. has a one year low of $168.25 and a one year high of $422.73.

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

Insider Activity

In other news, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $342.28, for a total value of $684,560.00. Following the completion of the sale, the director now directly owns 50,946 shares of the company’s stock, valued at $17,437,796.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $342.28, for a total value of $684,560.00. Following the completion of the transaction, the director now directly owns 50,946 shares in the company, valued at approximately $17,437,796.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $394.69, for a total value of $7,893,800.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at $1,280,374.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,197 shares of company stock valued at $21,326,894 in the last ninety days. 3.54% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Jefferies Financial Group upped their price target on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Rosenblatt Securities upped their price target on shares of Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. Citigroup upped their price target on shares of Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Evercore ISI upped their price target on shares of Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, UBS Group upped their price target on shares of Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and a consensus target price of $369.50.

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.