Brevan Howard Capital Management LP Sells 124,127 Shares of Arista Networks, Inc. $ANET

Brevan Howard Capital Management LP lowered its position in Arista Networks, Inc. (NYSE:ANET) by 83.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,239 shares of the technology company’s stock after selling 124,127 shares during the period. Brevan Howard Capital Management LP’s holdings in Arista Networks were worth $3,532,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Bare Financial Services Inc grew its position in Arista Networks by 2,118.2% in the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after purchasing an additional 233 shares during the period. AdvisorNet Financial Inc increased its stake in Arista Networks by 56.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after purchasing an additional 72 shares in the last quarter. Knuff & Co LLC acquired a new position in Arista Networks during the third quarter worth $29,000. Richardson Financial Services Inc. raised its holdings in Arista Networks by 141.3% during the third quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock worth $32,000 after buying an additional 130 shares during the last quarter. Finally, SJS Investment Consulting Inc. lifted its stake in shares of Arista Networks by 979.2% in the third quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock valued at $38,000 after buying an additional 235 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Yvonne Wassenaar sold 1,815 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $132.44, for a total transaction of $240,378.60. Following the completion of the transaction, the director directly owned 12,574 shares of the company’s stock, valued at approximately $1,665,300.56. This represents a 12.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kenneth Duda sold 32,000 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $142.44, for a total value of $4,558,080.00. Following the completion of the sale, the insider directly owned 12,976 shares of the company’s stock, valued at $1,848,301.44. This represents a 71.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 196,237 shares of company stock valued at $25,865,760. Company insiders own 3.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price target on shares of Arista Networks in a research note on Friday, February 13th. TD Cowen began coverage on Arista Networks in a research note on Thursday, March 12th. They issued a “buy” rating and a $170.00 price objective for the company. Needham & Company LLC raised their target price on Arista Networks from $165.00 to $185.00 and gave the company a “buy” rating in a report on Friday, February 13th. Wells Fargo & Company lifted their target price on Arista Networks from $175.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Finally, UBS Group set a $200.00 price target on Arista Networks in a report on Tuesday, February 24th. Eighteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $176.47.

Arista Networks Stock Up 1.3%

ANET opened at $135.37 on Tuesday. The stock has a market cap of $170.09 billion, a price-to-earnings ratio of 49.05, a PEG ratio of 2.37 and a beta of 1.46. 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 price is $134.82 and its two-hundred day moving average price is $137.34.

Arista Networks (NYSE:ANET) last released its earnings results on Thursday, February 12th. The technology company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.07. The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.38 billion. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The company’s revenue was up 28.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 EPS. As a group, sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Arista Networks Company 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.