Magnetar Financial LLC Has $2.88 Million Stock Holdings in Arista Networks, Inc. $ANET

Magnetar Financial LLC decreased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 73.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,741 shares of the technology company’s stock after selling 54,941 shares during the period. Magnetar Financial LLC’s holdings in Arista Networks were worth $2,876,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Walkner Condon Financial Advisors LLC boosted its position in shares of Arista Networks by 0.4% in the third quarter. Walkner Condon Financial Advisors LLC now owns 18,509 shares of the technology company’s stock valued at $2,697,000 after acquiring an additional 70 shares during the period. AdvisorNet Financial Inc increased its position in Arista Networks by 56.7% during the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after acquiring an additional 72 shares during the period. Crown Wealth Group LLC increased its position in Arista Networks by 2.4% during the third quarter. Crown Wealth Group LLC now owns 3,175 shares of the technology company’s stock worth $463,000 after acquiring an additional 75 shares during the period. Fragasso Financial Advisors Inc raised its stake in Arista Networks by 1.8% in the 3rd quarter. Fragasso Financial Advisors Inc now owns 4,237 shares of the technology company’s stock worth $616,000 after purchasing an additional 76 shares in the last quarter. Finally, West Family Investments Inc. raised its stake in Arista Networks by 0.9% in the 3rd quarter. West Family Investments Inc. now owns 8,364 shares of the technology company’s stock worth $1,219,000 after purchasing an additional 76 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insiders Place Their Bets

In other Arista Networks news, Director Kelly Bodnar Battles sold 422 shares of the firm’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $128.06, for a total value of $54,041.32. Following the sale, the director owned 9,529 shares of the company’s stock, valued at approximately $1,220,283.74. This trade represents a 4.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Yvonne Wassenaar sold 1,815 shares of Arista Networks stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $132.44, for a total value of $240,378.60. Following the completion of the transaction, the director owned 12,574 shares in the company, valued at approximately $1,665,300.56. The trade was a 12.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 196,237 shares of company stock valued at $25,865,760 over the last ninety days. Company insiders own 3.39% of the company’s stock.

Arista Networks Trading Down 0.9%

Shares of NYSE:ANET opened at $138.33 on Thursday. The firm has a 50 day moving average of $134.80 and a 200-day moving average of $137.32. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $164.94. The stock has a market capitalization of $173.81 billion, a PE ratio of 50.12, a PEG ratio of 2.48 and a beta of 1.46.

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

Wall Street Analyst Weigh In

ANET has been the topic of a number of analyst reports. The Goldman Sachs Group restated a “buy” rating and set a $188.00 target price (up from $165.00) on shares of Arista Networks in a research report on Friday, February 13th. Needham & Company LLC lifted their price target on shares of Arista Networks from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, February 13th. KeyCorp reiterated an “overweight” rating and issued a $178.00 price target (up from $170.00) on shares of Arista Networks in a research note on Friday, February 13th. Morgan Stanley reissued an “overweight” rating and set a $165.00 price target on shares of Arista Networks in a research report on Friday, February 13th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Arista Networks in a report on Monday, December 29th. Seventeen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and a consensus target price of $176.88.

Arista Networks Company Profile

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.