LRT Capital Management LLC Acquires New Holdings in Arista Networks, Inc. $ANET

LRT Capital Management LLC bought a new position in Arista Networks, Inc. (NYSE:ANET) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 5,257 shares of the technology company’s stock, valued at approximately $766,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bare Financial Services Inc lifted its stake in shares of Arista Networks by 2,118.2% in the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after buying an additional 233 shares during the last quarter. AdvisorNet Financial Inc boosted its holdings in shares of Arista Networks by 56.7% during the 3rd 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 period. Knuff & Co LLC acquired a new position in Arista Networks in the 3rd quarter valued at $29,000. Richardson Financial Services Inc. raised its holdings in Arista Networks by 141.3% in the 3rd quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock worth $32,000 after acquiring an additional 130 shares during the period. Finally, SJS Investment Consulting Inc. raised its holdings in Arista Networks by 979.2% in the 3rd quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock worth $38,000 after acquiring an additional 235 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ANET shares. Piper Sandler restated an “overweight” rating and set a $175.00 price target (up from $159.00) on shares of Arista Networks in a report on Friday, February 13th. Evercore reiterated an “outperform” rating and issued a $200.00 price objective on shares of Arista Networks in a research note on Friday, February 13th. TD Cowen began coverage on Arista Networks in a research report on Thursday, March 12th. They set a “buy” rating and a $170.00 price objective for the company. Needham & Company LLC increased their target price on Arista Networks from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Finally, Barclays reaffirmed an “overweight” rating and issued a $184.00 target price (up from $183.00) on shares of Arista Networks in a report on Friday, February 13th. Eighteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $176.47.

Insider Activity at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the firm’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 completion of the sale, the director owned 9,784 shares in the company, valued at approximately $1,373,967.12. This trade represents a 44.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kenneth Duda sold 32,000 shares of Arista Networks stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $142.44, for a total value of $4,558,080.00. Following the sale, the insider directly owned 12,976 shares in the company, valued at $1,848,301.44. The trade was a 71.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 196,237 shares of company stock worth $25,865,760 over the last three months. Company insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $135.37 on Tuesday. The company has a market cap of $170.09 billion, a PE ratio of 49.05, a price-to-earnings-growth ratio of 2.37 and a beta of 1.46. The firm has a fifty day moving average price of $134.82 and a two-hundred day moving average price of $137.34. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $164.94.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Thursday, February 12th. The technology company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.07. The company had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.38 billion. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The business’s revenue was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 EPS. Analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks Company Profile

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.