Stanley Laman Group Ltd. Purchases New Holdings in Arista Networks, Inc. $ANET

Stanley Laman Group Ltd. acquired a new position in Arista Networks, Inc. (NYSE:ANET) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 61,078 shares of the technology company’s stock, valued at approximately $8,900,000. Arista Networks comprises approximately 1.3% of Stanley Laman Group Ltd.’s investment portfolio, making the stock its 11th largest position.

Other hedge funds have also recently bought and sold shares of the company. AdvisorNet Financial Inc lifted its stake in shares of Arista Networks by 56.7% during the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after acquiring an additional 72 shares during the period. Bare Financial Services Inc increased 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. SJS Investment Consulting Inc. raised its holdings in Arista Networks by 979.2% during the 3rd quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock worth $38,000 after purchasing an additional 235 shares during the last quarter. REAP Financial Group LLC lifted its position in Arista Networks by 108.0% during the 2nd quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock valued at $34,000 after purchasing an additional 175 shares during the period. Finally, Nova Wealth Management Inc. boosted its stake in shares of Arista Networks by 215.7% in the 3rd quarter. Nova Wealth Management Inc. now owns 341 shares of the technology company’s stock valued at $50,000 after purchasing an additional 233 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ANET shares. Morgan Stanley dropped their price target on shares of Arista Networks from $171.00 to $159.00 and set an “overweight” rating for the company in a research note on Wednesday, December 17th. UBS Group reiterated a “buy” rating and set a $155.00 target price on shares of Arista Networks in a research report on Wednesday, December 3rd. Rosenblatt Securities reissued a “neutral” rating and issued a $140.00 price target on shares of Arista Networks in a research note on Monday, November 24th. Piper Sandler raised Arista Networks from a “neutral” rating to an “overweight” rating and set a $159.00 price objective for the company in a research note on Monday. Finally, Wells Fargo & Company upped their price objective on Arista Networks from $150.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Eighteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and an average price target of $164.44.

Insiders Place Their Bets

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $128.09, for a total transaction of $1,024,720.00. Following the sale, the director directly owned 25,784 shares in the company, valued at approximately $3,302,672.56. This trade represents a 23.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kelly Bodnar Battles sold 422 shares of Arista Networks stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $117.15, for a total transaction of $49,437.30. Following the completion of the transaction, the director directly owned 8,980 shares in the company, valued at approximately $1,052,007. The trade was a 4.49% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 208,464 shares of company stock worth $27,418,668. 3.54% of the stock is owned by company insiders.

Arista Networks Stock Up 2.0%

Shares of ANET stock opened at $133.63 on Monday. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $164.94. The firm has a fifty day moving average of $133.33 and a 200-day moving average of $130.84. The firm has a market capitalization of $168.27 billion, a price-to-earnings ratio of 50.81, a price-to-earnings-growth ratio of 2.25 and a beta of 1.41.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share 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 analyst estimates of $2.26 billion. During the same period in the previous year, the company posted $2.40 earnings per share. The company’s revenue for the quarter was up 27.5% on a year-over-year basis. Research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

About Arista Networks

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.