Talos Asset Management LP Invests $18.65 Million in Arista Networks, Inc. (NYSE:ANET)

Talos Asset Management LP purchased a new position in Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 168,700 shares of the technology company’s stock, valued at approximately $18,646,000. Arista Networks comprises 4.4% of Talos Asset Management LP’s investment portfolio, making the stock its 8th biggest position.

Other hedge funds have also recently modified their holdings of the company. True Wealth Design LLC raised its stake in shares of Arista Networks by 2,133.3% in the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after purchasing an additional 128 shares during the last quarter. Anchor Investment Management LLC grew its holdings in shares of Arista Networks by 35.0% in the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after acquiring an additional 35 shares during the period. Meeder Asset Management Inc. grew its holdings in shares of Arista Networks by 52.5% in the third quarter. Meeder Asset Management Inc. now owns 183 shares of the technology company’s stock worth $70,000 after acquiring an additional 63 shares during the period. Caitlin John LLC grew its holdings in shares of Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock worth $26,000 after acquiring an additional 152 shares during the period. Finally, Capital Advisors Ltd. LLC grew its holdings in shares of Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after acquiring an additional 191 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Up 0.5 %

Shares of Arista Networks stock opened at $84.38 on Thursday. The stock’s 50-day simple moving average is $103.81 and its 200-day simple moving average is $101.77. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.58. The company has a market capitalization of $106.42 billion, a price-to-earnings ratio of 38.01, a PEG ratio of 3.10 and a beta of 1.08.

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

Analyst Ratings Changes

Several brokerages recently commented on ANET. Evercore ISI lifted their price objective on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Erste Group Bank lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday. UBS Group raised Arista Networks from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $112.00 to $115.00 in a report on Wednesday, March 5th. Citigroup boosted their price target on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Finally, Wells Fargo & Company reissued an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $114.00.

Insider Buying and Selling

In related news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $84.85, for a total value of $6,788,000.00. Following the sale, the senior vice president now directly owns 12,976 shares in the company, valued at approximately $1,101,013.60. The trade was a 86.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $89.03, for a total value of $712,240.00. Following the completion of the sale, the director now owns 147,784 shares in the company, valued at $13,157,209.52. This represents a 5.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 491,001 shares of company stock worth $49,112,111. 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.