XTX Topco Ltd Has $730,000 Position in Arista Networks, Inc. $ANET

XTX Topco Ltd reduced its stake in Arista Networks by 91.5% in Q2, now holding shares worth $730,000. Other investors like Edmond DE Rothschild and Summit Global Investments adjusted their positions. Arista's Q2 earnings exceeded expectations with $2.31 billion revenue. Analysts maintain a "Moderate Buy" rating with a $164.31 price target. Recent insider transactions include sales by Director Charles Giancarlo and CEO Jayshree Ullal.

XTX Topco Ltd trimmed its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 91.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,133 shares of the technology company's stock after selling 76,979 shares during the quarter. XTX Topco Ltd's holdings in Arista Networks were worth $730,000 as of its most recent SEC filing.

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Other hedge funds and other institutional investors also recently made changes to their positions in the company. Edmond DE Rothschild Holding S.A. boosted its position in Arista Networks by 128.9% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 2,628 shares of the technology company's stock worth $269,000 after buying an additional 1,480 shares during the period. Atalanta Sosnoff Capital LLC bought a new position in shares of Arista Networks during the second quarter valued at $579,000. Jaffetilchin Investment Partners LLC acquired a new position in shares of Arista Networks during the second quarter worth $310,000. Summit Global Investments lifted its holdings in shares of Arista Networks by 474.9% during the second quarter. Summit Global Investments now owns 132,446 shares of the technology company's stock worth $13,551,000 after purchasing an additional 109,409 shares during the period. Finally, Global Retirement Partners LLC bought a new stake in shares of Arista Networks in the second quarter worth $2,179,000. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Price Performance

NYSE ANET opened at $127.23 on Wednesday. The stock has a market capitalization of $160.22 billion, a P/E ratio of 48.38, a P/E/G ratio of 2.46 and a beta of 1.41. The business has a 50 day simple moving average of $141.38 and a 200 day simple moving average of $124.88. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $164.94.

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Arista Networks (NYSE:ANET - Get Free Report) last posted 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 firm had revenue of $2.31 billion for the quarter, compared to analysts' expectations of $2.26 billion. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The company's revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.40 EPS. Equities analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ANET. William Blair reaffirmed an "outperform" rating on shares of Arista Networks in a research report on Friday, September 12th. Weiss Ratings upgraded Arista Networks from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday. Morgan Stanley set a $171.00 price objective on Arista Networks and gave the stock an "overweight" rating in a research note on Friday, October 10th. BNP Paribas upgraded Arista Networks from a "hold" rating to an "outperform" rating in a report on Thursday, September 25th. Finally, The Goldman Sachs Group raised their price target on shares of Arista Networks from $155.00 to $175.00 and gave the stock a "buy" rating in a report on Friday, September 12th. Eighteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $164.31.

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Insider Transactions at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $157.12, for a total value of $1,256,960.00. Following the completion of the sale, the director owned 33,784 shares of the company's stock, valued at approximately $5,308,142.08. This trade represents a 19.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jayshree Ullal sold 24,042 shares of the business's stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total transaction of $2,994,431.10. Following the sale, the chief executive officer owned 9,917 shares of the company's stock, valued at $1,235,162.35. This trade represents a 70.80% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 2,009,464 shares of company stock worth $293,774,712. Insiders own 3.54% of the company's stock.

About Arista Networks

(Free Report)

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.

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