Arista Networks, Inc. $ANET Holdings Boosted by Tema Etfs LLC

Tema Etfs LLC increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 388.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,400 shares of the technology company’s stock after buying an additional 30,538 shares during the quarter. Tema Etfs LLC’s holdings in Arista Networks were worth $5,595,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. SteelPeak Wealth LLC lifted its stake in shares of Arista Networks by 23.8% in the second quarter. SteelPeak Wealth LLC now owns 40,404 shares of the technology company’s stock valued at $4,134,000 after buying an additional 7,779 shares during the period. Penobscot Investment Management Company Inc. raised its holdings in Arista Networks by 7.8% in the 2nd quarter. Penobscot Investment Management Company Inc. now owns 39,073 shares of the technology company’s stock valued at $3,998,000 after acquiring an additional 2,815 shares in the last quarter. Vanguard Group Inc. raised its holdings in Arista Networks by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 98,993,100 shares of the technology company’s stock valued at $10,127,984,000 after acquiring an additional 1,136,167 shares in the last quarter. Holocene Advisors LP bought a new stake in shares of Arista Networks in the 2nd quarter worth approximately $247,451,000. Finally, Three Seasons Wealth LLC acquired a new stake in shares of Arista Networks during the 3rd quarter worth approximately $2,483,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Trading Down 0.5%

Shares of Arista Networks stock opened at $123.05 on Monday. The stock has a market capitalization of $154.95 billion, a price-to-earnings ratio of 46.79, a P/E/G ratio of 2.07 and a beta of 1.41. The firm’s 50-day moving average price is $130.43 and its two-hundred day moving average price is $132.16. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $164.94.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. Arista Networks’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.40 earnings per share. As a group, equities research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Needham & Company LLC upped their target price on Arista Networks from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Morgan Stanley decreased their target price on shares of Arista Networks from $171.00 to $159.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 17th. UBS Group reissued a “buy” rating and issued a $155.00 target price on shares of Arista Networks in a research note on Wednesday, December 3rd. Barclays restated an “overweight” rating and set a $183.00 price target (up previously from $179.00) on shares of Arista Networks in a research note on Wednesday, November 5th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $140.00 price objective on shares of Arista Networks in a research note on Monday, November 24th. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and an average price target of $164.44.

Insiders Place Their Bets

In related news, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $133.79, for a total transaction of $1,070,320.00. Following the transaction, the director owned 17,784 shares in the company, valued at $2,379,321.36. This represents a 31.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jayshree Ullal sold 24,042 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total transaction of $2,994,431.10. Following the sale, the chief executive officer directly owned 9,917 shares in the company, valued at approximately $1,235,162.35. This represents a 70.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 216,464 shares of company stock valued at $28,488,988. 3.39% of the stock is currently owned by corporate insiders.

Arista Networks 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.