Arista Networks, Inc. $ANET Shares Sold by Kesler Norman & Wride LLC

Kesler Norman & Wride LLC reduced its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 34.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 16,452 shares of the technology company’s stock after selling 8,583 shares during the quarter. Kesler Norman & Wride LLC’s holdings in Arista Networks were worth $2,397,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of ANET. Vanguard Group Inc. lifted its holdings in Arista Networks by 1.2% during the second quarter. Vanguard Group Inc. now owns 98,993,100 shares of the technology company’s stock valued at $10,127,984,000 after purchasing an additional 1,136,167 shares in the last quarter. Cresset Asset Management LLC increased its stake in shares of Arista Networks by 1.0% during the second quarter. Cresset Asset Management LLC now owns 26,374,373 shares of the technology company’s stock worth $2,698,362,000 after buying an additional 263,272 shares during the period. Geode Capital Management LLC raised its holdings in shares of Arista Networks by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 25,576,483 shares of the technology company’s stock valued at $2,606,694,000 after purchasing an additional 128,977 shares in the last quarter. Norges Bank purchased a new stake in Arista Networks during the 2nd quarter worth about $1,228,177,000. Finally, Schroder Investment Management Group boosted its holdings in Arista Networks by 14.8% in the second quarter. Schroder Investment Management Group now owns 10,494,124 shares of the technology company’s stock valued at $1,073,654,000 after purchasing an additional 1,350,593 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ANET shares. William Blair restated an “outperform” rating on shares of Arista Networks in a research note on Friday, September 12th. Barclays reaffirmed an “overweight” rating and set a $183.00 price target (up previously from $179.00) on shares of Arista Networks in a research note on Wednesday, November 5th. Needham & Company LLC lifted their price objective on Arista Networks from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. BNP Paribas Exane upgraded shares of Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 price target on the stock in a report on Thursday, September 25th. Finally, Melius Research boosted their target price on Arista Networks from $160.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Eighteen 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.com, Arista Networks has a consensus rating of “Moderate Buy” and a consensus target price of $164.44.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $123.05 on Friday. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $164.94. The business has a 50-day moving average of $130.43 and a 200-day moving average of $131.65. The company has a market capitalization of $154.95 billion, a PE ratio of 46.79, a P/E/G ratio of 2.08 and a beta of 1.41.

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

Insider Activity at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $133.79, for a total value of $1,070,320.00. Following the sale, the director directly owned 17,784 shares of the company’s stock, valued at $2,379,321.36. This represents a 31.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kenneth Duda sold 26,000 shares of the stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $123.16, for a total transaction of $3,202,160.00. Following the transaction, the insider owned 532,400 shares in the company, valued at $65,570,384. This trade represents a 4.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 216,464 shares of company stock worth $28,488,988 over the last three months. 3.39% of the stock is owned by corporate insiders.

Arista Networks Company Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.