Headlands Technologies LLC Has $2.03 Million Stock Position in Arista Networks, Inc. $ANET

Headlands Technologies LLC lowered its position in Arista Networks, Inc. (NYSE:ANET) by 31.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,849 shares of the technology company’s stock after selling 8,976 shares during the quarter. Headlands Technologies LLC’s holdings in Arista Networks were worth $2,031,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ANET. Bare Financial Services Inc lifted its position in Arista Networks by 2,118.2% in the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after purchasing an additional 233 shares during the period. Saudi Central Bank acquired a new position in shares of Arista Networks in the 1st quarter valued at $33,000. REAP Financial Group LLC lifted its holdings in shares of Arista Networks by 108.0% during the 2nd quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock worth $34,000 after acquiring an additional 175 shares during the period. eCIO Inc. bought a new position in shares of Arista Networks during the 1st quarter worth about $36,000. Finally, Solstein Capital LLC boosted its position in shares of Arista Networks by 493.8% during the 2nd quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock valued at $39,000 after acquiring an additional 316 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Price Performance

ANET stock opened at $124.83 on Friday. The business has a fifty day moving average price of $138.96 and a 200 day moving average price of $126.68. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $164.94. The stock has a market capitalization of $157.20 billion, a price-to-earnings ratio of 47.46, a P/E/G ratio of 2.39 and a beta of 1.41.

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

Analysts Set New Price Targets

ANET has been the subject of several recent research reports. BNP Paribas Exane raised shares of Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 price target for the company in a research report on Thursday, September 25th. BNP Paribas raised Arista Networks from a “hold” rating to an “outperform” rating in a report on Thursday, September 25th. Wolfe Research boosted their price target on Arista Networks from $160.00 to $185.00 and gave the company an “outperform” rating in a research note on Friday, September 12th. Needham & Company LLC upped their price target on Arista Networks from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. Finally, Wells Fargo & Company increased their price objective on Arista Networks from $150.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Eighteen 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 a consensus price target of $164.31.

Insider Activity at Arista Networks

In related news, insider Kenneth Duda sold 26,000 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $128.61, for a total value of $3,343,860.00. Following the completion of the transaction, the insider owned 542,400 shares in the company, valued at $69,758,064. The trade was a 4.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $128.09, for a total value of $1,024,720.00. Following the transaction, the director directly owned 25,784 shares in the company, valued at approximately $3,302,672.56. This represents a 23.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 274,464 shares of company stock worth $38,250,488 in the last quarter. Insiders own 3.39% of the company’s stock.

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.