Arista Networks, Inc. $ANET Shares Sold by Strategic Advisors LLC

Strategic Advisors LLC lessened its stake in Arista Networks, Inc. (NYSE:ANET) by 31.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 15,817 shares of the technology company’s stock after selling 7,384 shares during the quarter. Strategic Advisors LLC’s holdings in Arista Networks were worth $2,305,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in Arista Networks during the 2nd quarter worth $1,228,177,000. Massachusetts Financial Services Co. MA increased its stake in shares of Arista Networks by 2,829.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,721,156 shares of the technology company’s stock worth $833,630,000 after acquiring an additional 5,525,828 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Arista Networks by 193.3% during the 2nd quarter. Nordea Investment Management AB now owns 7,065,054 shares of the technology company’s stock worth $721,342,000 after acquiring an additional 4,656,021 shares during the period. Holocene Advisors LP purchased a new position in shares of Arista Networks during the 2nd quarter worth $247,451,000. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Arista Networks by 123.0% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 3,068,064 shares of the technology company’s stock valued at $313,894,000 after acquiring an additional 1,692,467 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Stock Up 2.5%

NYSE:ANET opened at $150.31 on Thursday. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $164.94. The company has a fifty day simple moving average of $129.93 and a two-hundred day simple moving average of $134.76. The company has a market cap of $189.28 billion, a price-to-earnings ratio of 57.15, a price-to-earnings-growth ratio of 2.47 and a beta of 1.41.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, topping 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 business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the previous year, the company posted $2.40 earnings per share. The business’s revenue for the quarter was up 27.5% on a year-over-year basis. On average, analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insiders Place Their Bets

In other news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $133.79, for a total value of $1,070,320.00. Following the transaction, the director owned 17,784 shares in the company, valued at approximately $2,379,321.36. This represents a 31.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jayshree Ullal sold 24,042 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total value of $2,994,431.10. Following the completion of the transaction, the chief executive officer directly owned 9,917 shares of the company’s stock, valued at $1,235,162.35. This trade represents a 70.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 216,464 shares of company stock valued at $27,687,068 over the last quarter. Corporate insiders own 3.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Arista Networks in a research note on Monday, December 29th. Zacks Research lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Morgan Stanley lowered their price objective on Arista Networks from $171.00 to $159.00 and set an “overweight” rating for the company in a research report on Wednesday, December 17th. Rosenblatt Securities restated a “neutral” rating and issued a $140.00 target price on shares of Arista Networks in a research report on Monday, November 24th. Finally, Erste Group Bank cut Arista Networks from a “buy” rating to a “hold” rating in a report on Monday, November 10th. Seventeen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $164.44.

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.