Talos Eurisko Asset Management LP Purchases 168,000 Shares of Arista Networks, Inc. $ANET

Talos Eurisko Asset Management LP increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 40.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 583,600 shares of the technology company’s stock after purchasing an additional 168,000 shares during the quarter. Arista Networks makes up approximately 16.4% of Talos Eurisko Asset Management LP’s investment portfolio, making the stock its largest position. Talos Eurisko Asset Management LP’s holdings in Arista Networks were worth $85,036,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Walkner Condon Financial Advisors LLC raised its position in shares of Arista Networks by 0.4% in the third quarter. Walkner Condon Financial Advisors LLC now owns 18,509 shares of the technology company’s stock valued at $2,697,000 after buying an additional 70 shares during the last quarter. AdvisorNet Financial Inc grew 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 acquiring an additional 72 shares in the last quarter. Crown Wealth Group LLC grew its stake in Arista Networks by 2.4% during the 3rd quarter. Crown Wealth Group LLC now owns 3,175 shares of the technology company’s stock valued at $463,000 after acquiring an additional 75 shares in the last quarter. Fragasso Financial Advisors Inc raised its holdings in Arista Networks by 1.8% in the 3rd quarter. Fragasso Financial Advisors Inc now owns 4,237 shares of the technology company’s stock valued at $616,000 after acquiring an additional 76 shares during the last quarter. Finally, West Family Investments Inc. lifted its stake in Arista Networks by 0.9% in the 3rd quarter. West Family Investments Inc. now owns 8,364 shares of the technology company’s stock worth $1,219,000 after purchasing an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $140.43, for a total value of $1,123,440.00. Following the sale, the director owned 9,784 shares of the company’s stock, valued at $1,373,967.12. The trade was a 44.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Yvonne Wassenaar sold 1,815 shares of the firm’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $132.44, for a total value of $240,378.60. Following the transaction, the director 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 disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 196,237 shares of company stock worth $25,865,760. 3.39% of the stock is currently owned by insiders.

Arista Networks Trading Up 8.3%

NYSE ANET opened at $134.95 on Thursday. The stock has a market cap of $169.57 billion, a PE ratio of 48.89, a P/E/G ratio of 2.21 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 stock has a fifty day simple moving average of $134.26 and a 200-day simple moving average of $137.17.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ANET shares. Weiss Ratings restated a “hold (c+)” rating on shares of Arista Networks in a research report on Monday, December 29th. Needham & Company LLC boosted their price objective on Arista Networks from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. UBS Group set a $200.00 target price on Arista Networks in a research note on Tuesday, February 24th. Evercore reiterated an “outperform” rating and set a $200.00 price target on shares of Arista Networks in a report on Friday, February 13th. Finally, Piper Sandler reissued an “overweight” rating and issued a $175.00 price objective (up from $159.00) on shares of Arista Networks in a report on Friday, February 13th. Seventeen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $176.88.

About Arista Networks

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.