Ardmore Road Asset Management LP Takes Position in Arista Networks, Inc. (NYSE:ANET)

Ardmore Road Asset Management LP acquired a new position in shares of Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 120,000 shares of the technology company’s stock, valued at approximately $13,264,000. Arista Networks accounts for about 1.9% of Ardmore Road Asset Management LP’s holdings, making the stock its 24th largest holding.

Several other large investors have also modified their holdings of the company. Caitlin John LLC boosted its holdings in Arista Networks by 174.7% during the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after acquiring an additional 152 shares during the period. Capital Advisors Ltd. LLC grew its holdings in Arista Networks by 335.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after buying an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC grew its holdings in Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock valued at $29,000 after buying an additional 198 shares during the last quarter. Trust Co. of Vermont lifted its holdings in shares of Arista Networks by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock worth $29,000 after buying an additional 198 shares during the last quarter. Finally, New Millennium Group LLC boosted its position in shares of Arista Networks by 300.0% in the fourth quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock valued at $29,000 after acquiring an additional 195 shares during the period. 82.47% of the stock is owned by institutional investors.

Arista Networks Stock Up 1.1 %

Shares of ANET stock opened at $78.35 on Wednesday. The company has a market capitalization of $98.81 billion, a P/E ratio of 35.29, a P/E/G ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 12-month low of $60.08 and a 12-month high of $133.58. The firm has a 50-day moving average price of $97.45 and a 200 day moving average price of $101.75.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. As a group, research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Barclays reaffirmed an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Erste Group Bank downgraded Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. Morgan Stanley upped their price target on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Needham & Company LLC reissued a “buy” rating and set a $145.00 price objective on shares of Arista Networks in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $114.00.

Insiders Place Their Bets

In related news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total value of $896,160.00. Following the completion of the transaction, the director now owns 155,784 shares in the company, valued at $17,450,923.68. The trade was a 4.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $118.47, for a total value of $9,477,600.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares in the company, valued at $1,537,266.72. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 491,001 shares of company stock valued at $49,112,111. 3.54% of the stock is currently owned by corporate insiders.

About Arista Networks

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.