CSat Investment Advisory L.P. Has $88,000 Position in Arista Networks Inc (NYSE:ANET)

CSat Investment Advisory L.P. boosted its stake in shares of Arista Networks Inc (NYSE:ANET) by 361.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 337 shares of the technology company’s stock after buying an additional 264 shares during the quarter. CSat Investment Advisory L.P.’s holdings in Arista Networks were worth $88,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Artisan Partners Limited Partnership acquired a new position in shares of Arista Networks in the 1st quarter valued at about $132,213,000. First Trust Advisors LP lifted its stake in shares of Arista Networks by 53.1% in the 2nd quarter. First Trust Advisors LP now owns 1,143,852 shares of the technology company’s stock valued at $296,967,000 after purchasing an additional 396,782 shares during the period. FMR LLC lifted its stake in shares of Arista Networks by 25.1% in the 1st quarter. FMR LLC now owns 1,956,747 shares of the technology company’s stock valued at $615,319,000 after purchasing an additional 392,021 shares during the period. Swedbank lifted its stake in shares of Arista Networks by 56.2% in the 2nd quarter. Swedbank now owns 757,942 shares of the technology company’s stock valued at $196,777,000 after purchasing an additional 272,722 shares during the period. Finally, TD Asset Management Inc. lifted its stake in shares of Arista Networks by 717.4% in the 2nd quarter. TD Asset Management Inc. now owns 270,857 shares of the technology company’s stock valued at $70,319,000 after purchasing an additional 237,719 shares during the period. 58.74% of the stock is currently owned by hedge funds and other institutional investors.

In other Arista Networks news, COO Anshul Sadana sold 8,325 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $280.96, for a total transaction of $2,338,992.00. Following the completion of the sale, the chief operating officer now directly owns 2,741 shares of the company’s stock, valued at approximately $770,111.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Manuel Felix Rivelo sold 151 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $275.00, for a total value of $41,525.00. Following the completion of the transaction, the senior vice president now owns 422 shares in the company, valued at approximately $116,050. The disclosure for this sale can be found here. Insiders have sold a total of 49,810 shares of company stock valued at $12,538,880 over the last three months. Corporate insiders own 23.83% of the company’s stock.



A number of research analysts have recently issued reports on the company. Morgan Stanley dropped their price objective on Arista Networks from $300.00 to $275.00 and set an “equal weight” rating on the stock in a research note on Friday, June 7th. Barclays assumed coverage on Arista Networks in a research note on Wednesday, August 7th. They issued an “overweight” rating and a $284.00 price objective on the stock. Piper Jaffray Companies reissued an “overweight” rating and issued a $330.00 price objective (down from $340.00) on shares of Arista Networks in a research note on Friday, June 7th. Evercore ISI assumed coverage on Arista Networks in a research note on Wednesday, September 11th. They issued an “inline” rating and a $240.00 price objective on the stock. Finally, Goldman Sachs Group set a $290.00 price objective on Arista Networks and gave the company a “buy” rating in a research note on Friday, August 30th. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $300.96.

Shares of Arista Networks stock opened at $235.58 on Wednesday. Arista Networks Inc has a one year low of $187.08 and a one year high of $331.27. The firm has a market capitalization of $18.40 billion, a price-to-earnings ratio of 33.32, a PEG ratio of 1.44 and a beta of 1.56. The business has a 50-day simple moving average of $231.13 and a 200 day simple moving average of $266.83. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.77 and a quick ratio of 5.17.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.46. The firm had revenue of $608.32 million during the quarter, compared to analyst estimates of $606.78 million. Arista Networks had a return on equity of 28.76% and a net margin of 30.86%. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.93 EPS. On average, sell-side analysts expect that Arista Networks Inc will post 8.71 EPS for the current year.

Arista Networks Profile

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

Featured Story: What is the Gross Domestic Product (GDP)?

Want to see what other hedge funds are holding ANET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arista Networks Inc (NYSE:ANET).

Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

Receive News & Ratings for Arista Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks and related companies with MarketBeat.com's FREE daily email newsletter.