Brevan Howard Capital Management LP Buys 127,925 Shares of Arista Networks, Inc. $ANET

Brevan Howard Capital Management LP increased its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 625.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 148,366 shares of the technology company’s stock after buying an additional 127,925 shares during the period. Brevan Howard Capital Management LP’s holdings in Arista Networks were worth $15,179,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Arista Networks in the second quarter valued at approximately $1,228,177,000. AQR Capital Management LLC increased its position in Arista Networks by 153.8% in the first quarter. AQR Capital Management LLC now owns 7,719,809 shares of the technology company’s stock worth $584,119,000 after buying an additional 4,678,372 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Arista Networks by 193.3% in the second quarter. Nordea Investment Management AB now owns 7,065,054 shares of the technology company’s stock valued at $721,342,000 after buying an additional 4,656,021 shares during the period. Amundi lifted its position in shares of Arista Networks by 35.3% during the 1st quarter. Amundi now owns 8,582,109 shares of the technology company’s stock valued at $611,852,000 after buying an additional 2,240,045 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Arista Networks by 9.0% during the 1st quarter. Alliancebernstein L.P. now owns 22,959,214 shares of the technology company’s stock worth $1,778,880,000 after acquiring an additional 1,889,198 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Trading Down 7.1%

Arista Networks stock opened at $124.83 on Friday. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $164.94. The firm has a market capitalization of $157.20 billion, a PE ratio of 47.46, a price-to-earnings-growth ratio of 2.57 and a beta of 1.41. The firm’s 50 day simple moving average is $138.96 and its 200 day simple moving average is $126.44.

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. BNP Paribas upgraded Arista Networks from a “hold” rating to an “outperform” rating in a research note on Thursday, September 25th. UBS Group reissued a “buy” rating and issued a $155.00 price target on shares of Arista Networks in a research report on Wednesday, December 3rd. Erste Group Bank cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. Zacks Research lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, William Blair restated an “outperform” rating on shares of Arista Networks in a research report on Friday, September 12th. Eighteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.31.

Insiders Place Their Bets

In other Arista Networks news, insider Kenneth Duda sold 30,000 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $128.61, for a total value of $3,858,300.00. Following the sale, the insider owned 12,976 shares of the company’s stock, valued at $1,668,843.36. This trade represents a 69.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jayshree Ullal sold 24,042 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total value of $2,994,431.10. Following the transaction, the chief executive officer directly owned 9,917 shares of the company’s stock, valued at $1,235,162.35. The trade was a 70.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 274,464 shares of company stock worth $38,250,488 in the last ninety days. 3.39% of the stock is currently owned by insiders.

Arista Networks 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.