Caxton Associates LLP Makes New $21.80 Million Investment in Arista Networks, Inc. $ANET

Caxton Associates LLP acquired a new stake in shares of Arista Networks, Inc. (NYSE:ANET) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 213,076 shares of the technology company’s stock, valued at approximately $21,800,000. Arista Networks accounts for about 0.6% of Caxton Associates LLP’s holdings, making the stock its 24th biggest position.

Several other institutional investors also recently modified their holdings of ANET. Stablepoint Partners LLC boosted its stake in Arista Networks by 0.8% during the second quarter. Stablepoint Partners LLC now owns 9,406 shares of the technology company’s stock worth $962,000 after acquiring an additional 77 shares in the last quarter. Glenview Trust co boosted its position in shares of Arista Networks by 2.5% in the 2nd quarter. Glenview Trust co now owns 3,502 shares of the technology company’s stock worth $358,000 after purchasing an additional 84 shares in the last quarter. Telos Capital Management Inc. grew its stake in shares of Arista Networks by 1.0% in the 2nd quarter. Telos Capital Management Inc. now owns 9,260 shares of the technology company’s stock worth $947,000 after buying an additional 88 shares during the last quarter. Wealthcare Advisory Partners LLC increased its position in Arista Networks by 1.6% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 6,038 shares of the technology company’s stock valued at $618,000 after buying an additional 95 shares in the last quarter. Finally, Putney Financial Group LLC increased its position in Arista Networks by 0.7% during the 2nd quarter. Putney Financial Group LLC now owns 14,139 shares of the technology company’s stock valued at $1,447,000 after buying an additional 95 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Arista Networks

In related news, CEO Jayshree Ullal sold 24,042 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total value of $2,994,431.10. Following the transaction, the chief executive officer owned 9,917 shares of the company’s stock, valued at approximately $1,235,162.35. This trade represents a 70.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Charles H. Giancarlo sold 58,000 shares of the business’s stock in a transaction that occurred on Friday, September 19th. The shares were 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. Over the last 90 days, insiders have sold 274,464 shares of company stock valued at $38,250,488. 3.39% of the stock is owned by company insiders.

Arista Networks Stock Down 7.1%

Shares of Arista Networks stock opened at $124.83 on Friday. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94. The company’s 50 day moving average is $138.96 and its 200 day moving average is $126.68. The company has a market cap of $157.20 billion, a price-to-earnings ratio of 47.46, a price-to-earnings-growth ratio of 2.39 and a beta of 1.41.

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

Analyst Ratings Changes

A number of research firms have recently commented on ANET. Erste Group Bank cut Arista Networks from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. William Blair reissued an “outperform” rating on shares of Arista Networks in a research report on Friday, September 12th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $140.00 target price on shares of Arista Networks in a report on Monday, November 24th. Barclays reiterated an “overweight” rating and issued a $183.00 target price (up previously from $179.00) on shares of Arista Networks in a research note on Wednesday, November 5th. Finally, Morgan Stanley set a $171.00 price target on shares of Arista Networks and gave the company an “overweight” rating in a research report on Friday, October 10th. Eighteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $164.31.

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.