Arista Networks, Inc. (NYSE:ANET) is Gunderson Capital Management Inc.’s 6th Largest Position

Gunderson Capital Management Inc. lessened its position in shares of Arista Networks, Inc. (NYSE:ANET) by 3.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,891 shares of the technology company’s stock after selling 1,083 shares during the period. Arista Networks makes up about 5.2% of Gunderson Capital Management Inc.’s holdings, making the stock its 6th biggest position. Gunderson Capital Management Inc.’s holdings in Arista Networks were worth $12,240,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ANET. Vanguard Group Inc. increased its position in shares of Arista Networks by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock worth $6,946,338,000 after purchasing an additional 1,596,040 shares during the last quarter. GQG Partners LLC purchased a new stake in shares of Arista Networks during the 1st quarter valued at $881,848,000. Legal & General Group Plc lifted its holdings in shares of Arista Networks by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 2,195,733 shares of the technology company’s stock worth $769,560,000 after acquiring an additional 20,278 shares during the last quarter. Swedbank AB purchased a new position in Arista Networks in the first quarter worth $521,767,000. Finally, Ameriprise Financial Inc. increased its stake in Arista Networks by 97.2% in the second quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock valued at $628,966,000 after acquiring an additional 884,703 shares during the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Trading Up 0.9 %

NYSE ANET traded up $3.70 during trading on Wednesday, hitting $403.92. The company had a trading volume of 639,670 shares, compared to its average volume of 2,246,179. The company’s fifty day moving average is $354.75 and its 200-day moving average is $325.53. The company has a market cap of $126.57 billion, a price-to-earnings ratio of 56.18, a price-to-earnings-growth ratio of 3.04 and a beta of 1.07. Arista Networks, Inc. has a one year low of $168.25 and a one year high of $405.88.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.38. The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.41 EPS. As a group, equities analysts anticipate that Arista Networks, Inc. will post 7.38 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Rosenblatt Securities increased their price target on shares of Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st. Erste Group Bank reissued a “buy” rating on shares of Arista Networks in a research note on Friday, June 14th. Jefferies Financial Group upped their price objective on shares of Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Bank of America lifted their target price on shares of Arista Networks from $320.00 to $380.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $369.50.

Insider Buying and Selling at Arista Networks

In related news, CEO Jayshree Ullal sold 832 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $318.12, for a total transaction of $264,675.84. Following the sale, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at approximately $5,624,679.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Jayshree Ullal sold 832 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $318.12, for a total transaction of $264,675.84. Following the transaction, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at $5,624,679.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Marc Taxay sold 4,497 shares of Arista Networks stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $336.32, for a total transaction of $1,512,431.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,197 shares of company stock valued at $13,433,094. Corporate insiders own 3.54% of the company’s stock.

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.