Arista Networks, Inc. (NYSE:ANET) Stake Raised by Polymer Capital Management HK LTD

Polymer Capital Management HK LTD grew its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 309.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,152 shares of the technology company’s stock after purchasing an additional 27,314 shares during the period. Polymer Capital Management HK LTD’s holdings in Arista Networks were worth $3,996,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd purchased a new stake in shares of Arista Networks during the fourth quarter valued at $37,000. Federated Hermes Inc. raised its holdings in Arista Networks by 365.1% during the 4th quarter. Federated Hermes Inc. now owns 1,566,294 shares of the technology company’s stock worth $173,122,000 after buying an additional 1,229,536 shares during the period. Alcosta Capital Management Inc. lifted its stake in Arista Networks by 301.1% during the fourth quarter. Alcosta Capital Management Inc. now owns 58,542 shares of the technology company’s stock valued at $6,471,000 after buying an additional 43,948 shares in the last quarter. Waterloo Capital L.P. acquired a new position in shares of Arista Networks in the fourth quarter worth about $287,000. Finally, Titleist Asset Management LLC purchased a new position in shares of Arista Networks in the fourth quarter worth approximately $319,000. 82.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ANET shares. Evercore ISI lifted their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Wells Fargo & Company reissued an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Morgan Stanley raised their price objective on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. The Goldman Sachs Group reiterated a “buy” rating on shares of Arista Networks in a report on Monday, March 3rd. Finally, Barclays restated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $114.00.

Arista Networks Stock Performance

ANET opened at $64.28 on Friday. The company has a market cap of $81.07 billion, a PE ratio of 28.96, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30. The stock has a 50-day moving average of $94.01 and a 200-day moving average of $101.29. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.58.

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

Insider Activity

In other news, CEO Jayshree Ullal sold 138,351 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $93.88, for a total value of $12,988,391.88. Following the completion of the transaction, the chief executive officer now owns 92,641 shares in the company, valued at approximately $8,697,137.08. This represents a 59.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kelly Bodnar Battles sold 1,488 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $107.13, for a total transaction of $159,409.44. Following the transaction, 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. Over the last three months, insiders sold 491,001 shares of company stock valued at $48,840,431. 3.54% of the stock is owned by company insiders.

Arista Networks 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.