Waterloo Capital L.P. Invests $287,000 in Arista Networks, Inc. (NYSE:ANET)

Waterloo Capital L.P. purchased a new stake in Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,596 shares of the technology company’s stock, valued at approximately $287,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Titleist Asset Management LLC bought a new stake in Arista Networks in the fourth quarter worth approximately $319,000. Peapack Gladstone Financial Corp lifted its stake in shares of Arista Networks by 300.1% in the 4th quarter. Peapack Gladstone Financial Corp now owns 58,048 shares of the technology company’s stock valued at $6,415,000 after purchasing an additional 43,538 shares during the last quarter. Darden Wealth Group Inc boosted its holdings in Arista Networks by 378.6% in the fourth quarter. Darden Wealth Group Inc now owns 21,589 shares of the technology company’s stock worth $2,386,000 after purchasing an additional 17,078 shares in the last quarter. MIG Capital LLC acquired a new position in Arista Networks during the fourth quarter worth $340,000. Finally, Atika Capital Management LLC raised its holdings in Arista Networks by 315.9% during the fourth quarter. Atika Capital Management LLC now owns 209,600 shares of the technology company’s stock valued at $23,167,000 after buying an additional 159,200 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on ANET shares. Rosenblatt Securities reissued a “sell” rating and set a $80.00 price objective on shares of Arista Networks in a report on Tuesday, February 18th. Barclays reiterated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Piper Sandler reiterated a “neutral” rating and issued a $108.00 target price (up from $106.00) on shares of Arista Networks in a research note on Wednesday, February 19th. Finally, Morgan Stanley boosted their target price on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $114.00.

Arista Networks Trading Up 5.8 %

Shares of ANET stock opened at $68.12 on Tuesday. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $133.58. The company has a market capitalization of $85.91 billion, a P/E ratio of 30.68, a P/E/G ratio of 3.10 and a beta of 1.30. The stock has a 50 day moving average of $93.37 and a two-hundred day moving average of $101.18.

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

Insider Buying and Selling

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $77.55, for a total transaction of $620,400.00. Following the completion of the transaction, the director now directly owns 139,784 shares of the company’s stock, valued at approximately $10,840,249.20. This trade represents a 5.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $115.61, for a total transaction of $9,248,800.00. Following the completion of the sale, the senior vice president now owns 12,976 shares in the company, valued at $1,500,155.36. This represents a 86.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 411,001 shares of company stock valued at $39,362,831 over the last quarter. Corporate insiders own 3.54% of the company’s stock.

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.