Magnetar Financial LLC Has $2.88 Million Stock Position in Arista Networks, Inc. $ANET

Magnetar Financial LLC lessened its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 73.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,741 shares of the technology company’s stock after selling 54,941 shares during the period. Magnetar Financial LLC’s holdings in Arista Networks were worth $2,876,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Walkner Condon Financial Advisors LLC boosted its holdings in shares of Arista Networks by 0.4% in the 3rd 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 increased its holdings in Arista Networks by 56.7% during the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after buying an additional 72 shares during the last quarter. Crown Wealth Group LLC increased its holdings in Arista Networks by 2.4% during the third quarter. Crown Wealth Group LLC now owns 3,175 shares of the technology company’s stock worth $463,000 after buying an additional 75 shares during the last quarter. Fragasso Financial Advisors Inc raised its position in Arista Networks by 1.8% during the third quarter. Fragasso Financial Advisors Inc now owns 4,237 shares of the technology company’s stock worth $616,000 after acquiring an additional 76 shares in the last quarter. Finally, West Family Investments Inc. raised its position in Arista Networks by 0.9% during the third quarter. West Family Investments Inc. now owns 8,364 shares of the technology company’s stock worth $1,219,000 after acquiring an additional 76 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Wells Fargo & Company lifted their price objective on shares of Arista Networks from $175.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. UBS Group set a $200.00 target price on shares of Arista Networks in a report on Tuesday, February 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Arista Networks in a research note on Monday, December 29th. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price target on shares of Arista Networks in a report on Friday, February 13th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $188.00 price target (up from $165.00) on shares of Arista Networks in a research report on Friday, February 13th. Seventeen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $176.88.

Arista Networks Price Performance

ANET stock opened at $138.33 on Thursday. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $164.94. The stock has a market cap of $173.81 billion, a price-to-earnings ratio of 50.12, a price-to-earnings-growth ratio of 2.48 and a beta of 1.46. The company has a fifty day moving average price of $134.80 and a two-hundred day moving average price of $137.32.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, February 12th. The technology company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.07. The company 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%. The company’s revenue was up 28.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 earnings per share. Research analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $140.43, for a total value of $1,123,440.00. Following the transaction, the director directly owned 9,784 shares of the company’s stock, valued at $1,373,967.12. This represents a 44.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kenneth Duda sold 32,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $142.44, for a total transaction of $4,558,080.00. Following the sale, the insider owned 12,976 shares of the company’s stock, valued at $1,848,301.44. This trade represents a 71.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 196,237 shares of company stock valued at $25,865,760 in the last three months. 3.39% of the stock is currently owned by company insiders.

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.