Arista Networks, Inc. $ANET Stock Position Increased by Talos Eurisko Asset Management LP

Talos Eurisko Asset Management LP lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 40.4% during the 3rd quarter, Holdings Channel reports. The firm owned 583,600 shares of the technology company’s stock after buying an additional 168,000 shares during the period. Arista Networks makes up about 16.4% of Talos Eurisko Asset Management LP’s holdings, making the stock its biggest position. Talos Eurisko Asset Management LP’s holdings in Arista Networks were worth $85,036,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. IFG Advisory LLC lifted its holdings in Arista Networks by 54.3% during the 3rd quarter. IFG Advisory LLC now owns 5,701 shares of the technology company’s stock worth $831,000 after buying an additional 2,007 shares in the last quarter. George Kaiser Family Foundation purchased a new stake in shares of Arista Networks during the third quarter worth $712,000. Insigneo Advisory Services LLC raised its stake in shares of Arista Networks by 12.2% in the third quarter. Insigneo Advisory Services LLC now owns 6,867 shares of the technology company’s stock valued at $1,001,000 after acquiring an additional 748 shares in the last quarter. Great Lakes Retirement Inc. raised its stake in shares of Arista Networks by 23.2% in the third quarter. Great Lakes Retirement Inc. now owns 62,884 shares of the technology company’s stock valued at $9,163,000 after acquiring an additional 11,833 shares in the last quarter. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in Arista Networks in the third quarter valued at $244,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Ratings Changes

ANET has been the subject of several analyst reports. Erste Group Bank cut Arista Networks from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. Piper Sandler reissued an “overweight” rating and set a $175.00 price objective (up from $159.00) on shares of Arista Networks in a research report on Friday, February 13th. Weiss Ratings restated a “hold (c+)” rating on shares of Arista Networks in a research note on Monday, December 29th. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 target price on shares of Arista Networks in a report on Friday, February 13th. Finally, Evercore reiterated an “outperform” rating and set a $200.00 price target on shares of Arista Networks in a report on Friday, February 13th. Seventeen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $176.88.

Insider Activity at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $128.67, for a total value of $1,029,360.00. Following the completion of the transaction, the director owned 1,784 shares in the company, valued at $229,547.28. This represents a 81.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Yvonne Wassenaar sold 1,815 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $132.44, for a total value of $240,378.60. Following the transaction, the director directly owned 12,574 shares in the company, valued at approximately $1,665,300.56. The trade was a 12.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 196,237 shares of company stock valued at $25,865,760 in the last ninety days. 3.39% of the stock is currently owned by insiders.

Arista Networks Stock Up 8.3%

Shares of ANET opened at $134.95 on Thursday. The company has a market capitalization of $169.57 billion, a price-to-earnings ratio of 48.89, a price-to-earnings-growth ratio of 2.21 and a beta of 1.46. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $164.94. The stock has a 50 day moving average price of $134.26 and a 200 day moving average price of $137.17.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, February 12th. The technology company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.07. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The business had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the previous year, the firm earned $0.66 EPS. The company’s revenue was up 28.9% compared to the same quarter last year. On average, equities analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

About Arista Networks

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.