Rheos Capital Works Inc. Has $10.56 Million Stock Position in Arista Networks, Inc. (NYSE:ANET)

by · The Cerbat Gem

Rheos Capital Works Inc. grew its position in shares of Arista Networks, Inc. (NYSE:ANET – Free Report) by 34.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,500 shares of the technology company’s stock after acquiring an additional 7,000 shares during the quarter. Rheos Capital Works Inc.’s holdings in Arista Networks were worth $10,555,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. UniSuper Management Pty Ltd boosted its position in Arista Networks by 20.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 36,329 shares of the technology company’s stock worth $10,535,000 after acquiring an additional 6,133 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of Arista Networks in the 1st quarter valued at approximately $1,405,000. M&G Plc acquired a new stake in shares of Arista Networks in the 1st quarter valued at approximately $3,238,000. Nordea Investment Management AB boosted its holdings in shares of Arista Networks by 32.5% in the 1st quarter. Nordea Investment Management AB now owns 26,799 shares of the technology company’s stock valued at $7,810,000 after buying an additional 6,578 shares during the last quarter. Finally, Deepwater Asset Management LLC acquired a new stake in shares of Arista Networks in the 2nd quarter valued at approximately $15,084,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In related news, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $394.69, for a total value of $7,893,800.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at $1,280,374.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Jayshree Ullal sold 17,752 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $354.29, for a total value of $6,289,356.08. Following the completion of the transaction, the chief executive officer now owns 17,681 shares of the company’s stock, valued at $6,264,201.49. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $394.69, for a total value of $7,893,800.00. Following the completion of the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $1,280,374.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,197 shares of company stock valued at $21,326,894. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks Stock Performance

ANET opened at $406.30 on Thursday. Arista Networks, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $422.73. The company has a market capitalization of $127.32 billion, a P/E ratio of 56.59, a P/E/G ratio of 3.21 and a beta of 1.07. The stock has a fifty day moving average of $364.47 and a 200-day moving average of $330.06.

Arista Networks (NYSE:ANET – Get Free Report) last posted its earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter last year, the firm earned $1.41 earnings per share. The company’s revenue was up 15.9% on a year-over-year basis. On average, equities research analysts predict that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ANET has been the subject of several recent analyst reports. Citigroup increased their price objective on Arista Networks from $385.00 to $460.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Jefferies Financial Group increased their price objective on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price objective on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Wells Fargo & Company increased their price objective on Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Bank of America increased their price target on Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and an average price target of $369.50.

View Our Latest Research Report on ANET

Arista Networks Profile

(Free Report)

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.

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