Headlands Technologies LLC Sells 8,976 Shares of Arista Networks, Inc. $ANET

Headlands Technologies LLC cut its holdings in Arista Networks, Inc. (NYSE:ANET) by 31.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,849 shares of the technology company’s stock after selling 8,976 shares during the quarter. Headlands Technologies LLC’s holdings in Arista Networks were worth $2,031,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. MUFG Securities EMEA plc acquired a new position in shares of Arista Networks in the 2nd quarter valued at $311,000. Resources Management Corp CT ADV lifted its stake in Arista Networks by 8.9% in the second quarter. Resources Management Corp CT ADV now owns 1,601 shares of the technology company’s stock valued at $164,000 after buying an additional 131 shares during the period. Fairfield Bush & CO. boosted its holdings in Arista Networks by 13.7% during the second quarter. Fairfield Bush & CO. now owns 21,597 shares of the technology company’s stock worth $2,210,000 after buying an additional 2,608 shares during the last quarter. Corient Private Wealth LLC grew its position in shares of Arista Networks by 7.6% during the 2nd quarter. Corient Private Wealth LLC now owns 398,919 shares of the technology company’s stock worth $40,815,000 after buying an additional 28,310 shares during the period. Finally, Stonebridge Capital Advisors LLC bought a new stake in shares of Arista Networks in the 2nd quarter valued at about $2,007,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Trading Down 7.1%

NYSE ANET opened at $124.83 on Friday. The company has a market cap of $157.20 billion, a PE ratio of 47.46, a PEG ratio of 2.39 and a beta of 1.41. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $164.94. The stock has a 50 day moving average of $138.96 and a 200-day moving average of $126.68.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share for the quarter, topping 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 business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the previous year, the company earned $2.40 earnings per share. The firm’s revenue for the quarter was up 27.5% on a year-over-year basis. As a group, sell-side analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Transactions at Arista Networks

In related news, Director Charles H. Giancarlo sold 58,000 shares of Arista Networks stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $148.42, for a total transaction of $8,608,360.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jayshree Ullal sold 24,042 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $1,235,162.35. This trade represents a 70.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 274,464 shares of company stock worth $38,250,488 in the last ninety days. Insiders own 3.39% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ANET. Rosenblatt Securities reissued a “neutral” rating and issued a $140.00 price target on shares of Arista Networks in a report on Monday, November 24th. Piper Sandler restated a “neutral” rating and issued a $145.00 price target (up from $143.00) on shares of Arista Networks in a report on Wednesday, November 5th. 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 report on Wednesday, November 5th. Wolfe Research boosted their price objective on Arista Networks from $160.00 to $185.00 and gave the company an “outperform” rating in a research report on Friday, September 12th. Finally, BNP Paribas Exane raised Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 target price for the company in a research note on Thursday, September 25th. Eighteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and an average target price of $164.31.

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.