Cim LLC Raises Holdings in Arista Networks, Inc. $ANET

Cim LLC lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 3.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 197,855 shares of the technology company’s stock after buying an additional 5,940 shares during the quarter. Arista Networks makes up 2.7% of Cim LLC’s holdings, making the stock its 15th largest holding. Cim LLC’s holdings in Arista Networks were worth $20,243,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ANET. Stablepoint Partners LLC boosted its stake in shares of Arista Networks by 0.8% during the second quarter. Stablepoint Partners LLC now owns 9,406 shares of the technology company’s stock valued at $962,000 after purchasing an additional 77 shares in the last quarter. Glenview Trust co lifted its holdings in Arista Networks by 2.5% during the second quarter. Glenview Trust co now owns 3,502 shares of the technology company’s stock worth $358,000 after buying an additional 84 shares during the period. Telos Capital Management Inc. boosted its position in Arista Networks by 1.0% during the 2nd quarter. Telos Capital Management Inc. now owns 9,260 shares of the technology company’s stock valued at $947,000 after acquiring an additional 88 shares in the last quarter. Wealthcare Advisory Partners LLC increased its holdings in shares of Arista Networks by 1.6% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 6,038 shares of the technology company’s stock valued at $618,000 after acquiring an additional 95 shares during the period. Finally, Putney Financial Group LLC raised its position in shares of Arista Networks by 0.7% in the 2nd quarter. Putney Financial Group LLC now owns 14,139 shares of the technology company’s stock worth $1,447,000 after acquiring an additional 95 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. BNP Paribas raised Arista Networks from a “hold” rating to an “outperform” rating in a research report on Thursday, September 25th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Arista Networks in a research report on Monday, December 8th. Morgan Stanley set a $171.00 price objective on shares of Arista Networks and gave the stock an “overweight” rating in a research note on Friday, October 10th. Piper Sandler restated a “neutral” rating and issued a $145.00 target price (up from $143.00) on shares of Arista Networks in a research note on Wednesday, November 5th. Finally, Zacks Research downgraded Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Eighteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $164.31.

Insider Buying and Selling at Arista Networks

In other news, CEO Jayshree Ullal sold 24,042 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total value of $2,994,431.10. Following the sale, the chief executive officer directly owned 9,917 shares of the company’s stock, valued at $1,235,162.35. This represents a 70.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $128.09, for a total transaction of $1,024,720.00. Following the transaction, the director directly owned 25,784 shares of the company’s stock, valued at approximately $3,302,672.56. This trade represents a 23.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 274,464 shares of company stock valued at $38,250,488. 3.39% of the stock is currently owned by insiders.

Arista Networks Trading Down 7.1%

NYSE:ANET opened at $124.83 on Friday. The company has a market capitalization of $157.20 billion, a P/E ratio of 47.46, a PEG ratio of 2.39 and a beta of 1.41. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $164.94. The firm has a fifty day simple moving average of $138.96 and a 200-day simple moving average of $126.68.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.03. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.26 billion. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The company’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.40 EPS. Equities analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current year.

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.