Marshall Wace LLP Has $178.12 Million Position in Arista Networks, Inc. (NYSE:ANET)

Marshall Wace LLP lifted its stake in Arista Networks, Inc. (NYSE:ANET) by 56.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 508,230 shares of the technology company’s stock after acquiring an additional 183,230 shares during the quarter. Marshall Wace LLP’s holdings in Arista Networks were worth $178,124,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ANET. FCG Investment Co raised its stake in shares of Arista Networks by 2.3% during the 2nd quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock worth $445,000 after purchasing an additional 29 shares in the last quarter. Old Port Advisors raised its position in Arista Networks by 3.5% during the first quarter. Old Port Advisors now owns 955 shares of the technology company’s stock valued at $277,000 after acquiring an additional 32 shares in the last quarter. Fortitude Family Office LLC lifted its stake in Arista Networks by 33.3% in the second quarter. Fortitude Family Office LLC now owns 132 shares of the technology company’s stock valued at $46,000 after acquiring an additional 33 shares during the last quarter. Resonant Capital Advisors LLC grew its position in Arista Networks by 4.1% in the second quarter. Resonant Capital Advisors LLC now owns 870 shares of the technology company’s stock worth $305,000 after acquiring an additional 34 shares in the last quarter. Finally, Modera Wealth Management LLC increased its stake in shares of Arista Networks by 2.1% during the 2nd quarter. Modera Wealth Management LLC now owns 1,782 shares of the technology company’s stock worth $625,000 after purchasing an additional 37 shares during the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Jayshree Ullal sold 25,000 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $347.00, for a total transaction of $8,675,000.00. Following the transaction, the chief executive officer now owns 1,600,800 shares of the company’s stock, valued at $555,477,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Jayshree Ullal sold 25,000 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $347.00, for a total value of $8,675,000.00. Following the completion of the sale, the chief executive officer now owns 1,600,800 shares in the company, valued at $555,477,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $352.93, for a total value of $705,860.00. Following the completion of the sale, the director now owns 52,946 shares of the company’s stock, valued at approximately $18,686,231.78. The disclosure for this sale can be found here. Insiders have sold 107,361 shares of company stock valued at $38,024,123 over the last 90 days. 3.54% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ANET shares. UBS Group upped their price objective on shares of Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Citigroup lifted their price target on Arista Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $375.00 price target on shares of Arista Networks in a research report on Wednesday, July 31st. Erste Group Bank reaffirmed a “buy” rating on shares of Arista Networks in a research report on Friday, June 14th. Finally, Wells Fargo & Company lifted their price target on Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $358.63.

Arista Networks Stock Performance

Arista Networks stock opened at $385.57 on Tuesday. The firm has a market cap of $120.82 billion, a P/E ratio of 53.70, a P/E/G ratio of 2.70 and a beta of 1.07. The business’s fifty day moving average is $342.05 and its two-hundred day moving average is $317.63. Arista Networks, Inc. has a 52 week low of $168.25 and a 52 week high of $390.00.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The business’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.41 earnings per share. On average, equities research analysts predict that Arista Networks, Inc. will post 7.38 earnings per share 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.