Hudson Bay Capital Management LP Has $72.53 Million Stock Holdings in Arista Networks, Inc. $ANET

Hudson Bay Capital Management LP grew its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 1,289.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 708,873 shares of the technology company’s stock after purchasing an additional 657,844 shares during the period. Arista Networks makes up 0.2% of Hudson Bay Capital Management LP’s investment portfolio, making the stock its 26th biggest holding. Hudson Bay Capital Management LP owned about 0.06% of Arista Networks worth $72,525,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in ANET. Brighton Jones LLC increased its holdings in shares of Arista Networks by 321.7% during the fourth quarter. Brighton Jones LLC now owns 7,806 shares of the technology company’s stock valued at $863,000 after acquiring an additional 5,955 shares in the last quarter. Revolve Wealth Partners LLC bought a new stake in Arista Networks during the 4th quarter valued at $202,000. Bison Wealth LLC bought a new position in shares of Arista Networks in the fourth quarter valued at $251,000. Vestmark Advisory Solutions Inc. grew its holdings in shares of Arista Networks by 85.2% during the first quarter. Vestmark Advisory Solutions Inc. now owns 74,316 shares of the technology company’s stock valued at $5,758,000 after buying an additional 34,185 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in shares of Arista Networks during the first quarter worth about $909,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $128.09, for a total transaction of $1,024,720.00. Following the completion of the transaction, the director directly owned 25,784 shares of the company’s stock, valued at $3,302,672.56. This trade represents a 23.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kelly Bodnar Battles sold 422 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $117.15, for a total value of $49,437.30. Following the completion of the sale, the director owned 8,980 shares in the company, valued at $1,052,007. The trade was a 4.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 274,464 shares of company stock valued at $38,250,488 in the last three months. Company insiders own 3.39% of the company’s stock.

Analyst Upgrades and Downgrades

ANET has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of Arista Networks from $150.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Wolfe Research lifted their target price on shares of Arista Networks from $160.00 to $185.00 and gave the stock an “outperform” rating in a research note on Friday, September 12th. Melius Research increased their price objective on Arista Networks from $160.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Erste Group Bank lowered Arista Networks from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. Finally, BNP Paribas Exane raised shares of Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 price objective for the company in a report on Thursday, September 25th. Eighteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $164.31.

Arista Networks Stock Performance

ANET opened at $124.83 on Friday. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $164.94. The stock 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 stock’s 50 day moving average price is $138.96 and its 200-day moving average price is $126.44.

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

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.