Arista Networks, Inc. (NYSE:ANET) is Atika Capital Management LLC’s 10th Largest Position

Atika Capital Management LLC boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 315.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 209,600 shares of the technology company’s stock after acquiring an additional 159,200 shares during the quarter. Arista Networks accounts for approximately 2.5% of Atika Capital Management LLC’s holdings, making the stock its 10th biggest holding. Atika Capital Management LLC’s holdings in Arista Networks were worth $23,167,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Anchor Investment Management LLC increased its holdings in shares of Arista Networks by 35.0% in the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after acquiring an additional 35 shares during the period. LRI Investments LLC grew its stake in Arista Networks by 3.1% in the third quarter. LRI Investments LLC now owns 1,368 shares of the technology company’s stock valued at $528,000 after purchasing an additional 41 shares during the last quarter. Rehmann Capital Advisory Group raised its holdings in Arista Networks by 3.8% in the third quarter. Rehmann Capital Advisory Group now owns 1,177 shares of the technology company’s stock worth $453,000 after purchasing an additional 43 shares in the last quarter. Old North State Trust LLC lifted its position in shares of Arista Networks by 6.9% during the third quarter. Old North State Trust LLC now owns 1,371 shares of the technology company’s stock valued at $526,000 after buying an additional 89 shares during the last quarter. Finally, Orion Portfolio Solutions LLC boosted its holdings in shares of Arista Networks by 0.8% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 12,723 shares of the technology company’s stock valued at $4,883,000 after buying an additional 97 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Arista Networks Price Performance

ANET stock opened at $64.28 on Friday. The firm’s fifty day simple moving average is $94.01 and its 200-day simple moving average is $101.29. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.58. The company has a market capitalization of $81.07 billion, a P/E ratio of 28.96, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. As a group, sell-side analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Buying and Selling

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $84.85, for a total value of $6,788,000.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,101,013.60. This represents a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $77.55, for a total value of $620,400.00. Following the sale, the director now owns 139,784 shares in the company, valued at $10,840,249.20. This trade represents a 5.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 491,001 shares of company stock valued at $48,840,431 over the last ninety days. Company insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on ANET shares. Morgan Stanley increased their target price on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. The Goldman Sachs Group reiterated a “buy” rating on shares of Arista Networks in a report on Monday, March 3rd. Barclays restated an “overweight” rating on shares of Arista Networks in a research note on Monday, March 3rd. Piper Sandler reiterated a “neutral” rating and issued a $108.00 price target (up from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. Finally, StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

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.