Squarepoint Ops LLC Buys 18,330 Shares of Arista Networks Inc (NYSE:ANET)

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Squarepoint Ops LLC lifted its stake in shares of Arista Networks Inc (NYSE:ANET) by 1,246.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,800 shares of the technology company’s stock after buying an additional 18,330 shares during the period. Squarepoint Ops LLC’s holdings in Arista Networks were worth $4,731,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Arista Networks by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 5,777,829 shares of the technology company’s stock worth $1,500,040,000 after acquiring an additional 139,675 shares during the last quarter. BlackRock Inc. raised its position in Arista Networks by 4.7% in the second quarter. BlackRock Inc. now owns 3,904,300 shares of the technology company’s stock valued at $1,013,633,000 after purchasing an additional 174,887 shares during the last quarter. State Street Corp boosted its stake in shares of Arista Networks by 2.3% during the third quarter. State Street Corp now owns 2,123,287 shares of the technology company’s stock valued at $507,296,000 after purchasing an additional 48,455 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Arista Networks by 53.1% during the second quarter. First Trust Advisors LP now owns 1,143,852 shares of the technology company’s stock valued at $296,967,000 after purchasing an additional 396,782 shares in the last quarter. Finally, Eaton Vance Management boosted its stake in shares of Arista Networks by 2.8% during the second quarter. Eaton Vance Management now owns 964,428 shares of the technology company’s stock valued at $250,380,000 after purchasing an additional 26,627 shares in the last quarter. Institutional investors own 59.68% of the company’s stock.

Several research firms have recently issued reports on ANET. ValuEngine raised Arista Networks from a “hold” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research downgraded shares of Arista Networks from a “buy” rating to a “hold” rating and set a $246.00 target price on the stock. in a research report on Tuesday, October 15th. Credit Suisse Group lowered shares of Arista Networks from an “outperform” rating to a “neutral” rating and set a $144.00 target price on the stock. in a report on Friday, November 1st. JPMorgan Chase & Co. cut shares of Arista Networks from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $290.00 to $180.00 in a research report on Friday, November 1st. Finally, Cowen decreased their price target on shares of Arista Networks from $295.00 to $212.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $230.50.

In other Arista Networks news, SVP Marc Taxay sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $236.93, for a total value of $473,860.00. Following the transaction, the senior vice president now directly owns 12,312 shares of the company’s stock, valued at $2,917,082.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ann Mather sold 329 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $194.00, for a total value of $63,826.00. The disclosure for this sale can be found here. Insiders have sold 36,953 shares of company stock worth $8,006,469 in the last ninety days. Insiders own 23.83% of the company’s stock.

NYSE:ANET opened at $191.99 on Wednesday. The firm’s fifty day moving average is $210.61 and its 200-day moving average is $237.56. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.47 and a current ratio of 5.91. Arista Networks Inc has a 52 week low of $173.31 and a 52 week high of $331.27. The firm has a market cap of $14.91 billion, a P/E ratio of 27.16, a P/E/G ratio of 1.49 and a beta of 1.54.

Arista Networks (NYSE:ANET) last announced its earnings results on Thursday, October 31st. The technology company reported $2.69 earnings per share for the quarter, topping analysts’ consensus estimates of $2.19 by $0.50. The business had revenue of $654.40 million during the quarter, compared to the consensus estimate of $653.26 million. Arista Networks had a net margin of 32.68% and a return on equity of 28.94%. Arista Networks’s quarterly revenue was up 16.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.11 earnings per share. As a group, sell-side analysts anticipate that Arista Networks Inc will post 8.55 earnings per share for the current year.

About Arista Networks

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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