Andar Capital Management HK Ltd Decreases Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Andar Capital Management HK Ltd reduced its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 51.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,600 shares of the technology company’s stock after selling 13,320 shares during the quarter. Arista Networks comprises about 6.1% of Andar Capital Management HK Ltd’s portfolio, making the stock its 7th biggest position. Andar Capital Management HK Ltd’s holdings in Arista Networks were worth $4,416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Arista Networks by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock valued at $6,946,338,000 after buying an additional 1,596,040 shares during the period. Capital World Investors lifted its holdings in Arista Networks by 0.5% in the fourth quarter. Capital World Investors now owns 10,136,348 shares of the technology company’s stock valued at $2,387,211,000 after buying an additional 55,312 shares during the period. WCM Investment Management LLC lifted its holdings in Arista Networks by 0.8% in the first quarter. WCM Investment Management LLC now owns 3,049,416 shares of the technology company’s stock valued at $884,270,000 after buying an additional 25,196 shares during the period. GQG Partners LLC acquired a new position in Arista Networks in the first quarter valued at approximately $881,848,000. Finally, Swedbank AB acquired a new position in Arista Networks in the first quarter valued at approximately $521,767,000. 82.47% of the stock is owned by institutional investors.

Insider Activity at Arista Networks

In related news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $370.70, for a total value of $7,414,000.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at $1,202,550.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $370.70, for a total value of $7,414,000.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at approximately $1,202,550.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Marc Taxay sold 624 shares of Arista Networks stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $354.71, for a total transaction of $221,339.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 106,989 shares of company stock valued at $37,891,416. Corporate insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. KeyCorp increased their target price on shares of Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Erste Group Bank reiterated a “buy” rating on shares of Arista Networks in a report on Friday, June 14th. Barclays increased their target price on shares of Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, Jefferies Financial Group increased their target price on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and an average price target of $358.63.

Arista Networks Stock Up 0.5 %

Shares of ANET stock opened at $360.97 on Wednesday. The company has a market capitalization of $113.11 billion, a price-to-earnings ratio of 50.27, a P/E/G ratio of 2.70 and a beta of 1.07. Arista Networks, Inc. has a 12-month low of $168.25 and a 12-month high of $376.50. The firm has a fifty day moving average of $340.74 and a 200-day moving average of $315.02.

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

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.