Capital Impact Advisors LLC Purchases 30,624 Shares of Arista Networks, Inc. $ANET

Capital Impact Advisors LLC raised its holdings in Arista Networks, Inc. (NYSE:ANET) by 30.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 131,144 shares of the technology company’s stock after acquiring an additional 30,624 shares during the quarter. Arista Networks comprises approximately 4.1% of Capital Impact Advisors LLC’s holdings, making the stock its 7th largest position. Capital Impact Advisors LLC’s holdings in Arista Networks were worth $13,550,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ANET. Vanguard Group Inc. increased its position in Arista Networks by 1.2% during the second quarter. Vanguard Group Inc. now owns 98,993,100 shares of the technology company’s stock worth $10,127,984,000 after buying an additional 1,136,167 shares during the last quarter. Cresset Asset Management LLC boosted its stake in shares of Arista Networks by 1.0% during the 2nd quarter. Cresset Asset Management LLC now owns 26,374,373 shares of the technology company’s stock worth $2,698,362,000 after acquiring an additional 263,272 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Arista Networks by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 25,576,483 shares of the technology company’s stock valued at $2,606,694,000 after acquiring an additional 128,977 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Arista Networks by 9.0% in the first quarter. Alliancebernstein L.P. now owns 22,959,214 shares of the technology company’s stock valued at $1,778,880,000 after purchasing an additional 1,889,198 shares during the period. Finally, Norges Bank acquired a new stake in shares of Arista Networks in the second quarter worth $1,228,177,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Activity at Arista Networks

In other news, insider Kenneth Duda sold 30,000 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $128.61, for a total transaction of $3,858,300.00. Following the completion of the transaction, the insider owned 12,976 shares of the company’s stock, valued at approximately $1,668,843.36. The trade was a 69.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Charles H. Giancarlo sold 58,000 shares of the stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $148.42, for a total transaction of $8,608,360.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 274,464 shares of company stock worth $38,250,488 in the last 90 days. 3.39% of the stock is currently owned by company insiders.

Arista Networks Stock Down 7.1%

NYSE:ANET opened at $124.83 on Friday. The company has a market cap of $157.20 billion, a PE ratio of 47.46, a P/E/G ratio of 2.39 and a beta of 1.41. The business’s 50 day moving average is $138.96 and its two-hundred day moving average is $126.68. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $164.94.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.03. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period last year, the business posted $2.40 earnings per share. The firm’s revenue for the quarter was up 27.5% on a year-over-year basis. As a group, sell-side analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on ANET. Needham & Company LLC raised their target price on shares of Arista Networks from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Evercore ISI lifted their price objective on Arista Networks from $150.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, September 12th. Rosenblatt Securities reissued a “neutral” rating and set a $140.00 price objective on shares of Arista Networks in a research report on Monday, November 24th. Citigroup raised their target price on Arista Networks from $136.00 to $176.00 and gave the company a “buy” rating in a report on Friday, September 12th. Finally, Barclays reiterated an “overweight” rating and set a $183.00 price target (up from $179.00) on shares of Arista Networks in a report on Wednesday, November 5th. Eighteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and an average price target of $164.31.

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.