Voleon Capital Management LP Makes New Investment in Arista Networks, Inc. (NYSE:ANET)

Voleon Capital Management LP bought a new position in Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 27,799 shares of the technology company’s stock, valued at approximately $3,073,000.

Several other large investors have also modified their holdings of the company. Stock Yards Bank & Trust Co. bought a new position in shares of Arista Networks during the 4th quarter worth about $242,000. GHE LLC increased its holdings in Arista Networks by 319.0% during the 4th quarter. GHE LLC now owns 28,368 shares of the technology company’s stock valued at $3,136,000 after purchasing an additional 21,597 shares in the last quarter. Colonial River Investments LLC increased its holdings in Arista Networks by 327.6% during the 4th quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock valued at $1,077,000 after purchasing an additional 7,466 shares in the last quarter. Unified Investment Management bought a new position in Arista Networks in the 4th quarter valued at $630,000. Finally, Berkshire Capital Holdings Inc. boosted its position in Arista Networks by 257.6% in the 4th quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company’s stock valued at $8,505,000 after buying an additional 55,430 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Kelly Bodnar Battles sold 1,492 shares of Arista Networks stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $68.49, for a total value of $102,187.08. Following the completion of the transaction, the director now owns 7,480 shares in the company, valued at $512,305.20. This trade represents a 16.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jayshree Ullal sold 138,351 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the completion of the transaction, the chief executive officer now directly owns 92,641 shares of the company’s stock, valued at approximately $8,697,137.08. This trade represents a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 412,355 shares of company stock worth $39,446,799. Insiders own 3.54% of the company’s stock.

Arista Networks Stock Up 3.1 %

Shares of NYSE ANET opened at $80.74 on Wednesday. The firm has a market cap of $101.38 billion, a PE ratio of 36.37, a P/E/G ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $133.58. The company’s fifty day simple moving average is $79.60 and its 200 day simple moving average is $98.01.

Arista Networks (NYSE:ANET) last released its quarterly 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%. On average, equities analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ANET has been the topic of several recent analyst reports. Barclays reiterated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. Erste Group Bank downgraded Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. Needham & Company LLC reissued a “buy” rating and issued a $145.00 price objective on shares of Arista Networks in a report on Wednesday, February 19th. Evercore ISI cut their price target on Arista Networks from $130.00 to $100.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Finally, Citigroup decreased their price target on Arista Networks from $121.00 to $92.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $106.43.

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.