BDF Gestion Sells 4,670 Shares of Arista Networks, Inc. $ANET

BDF Gestion lowered its holdings in Arista Networks, Inc. (NYSE:ANET) by 17.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,457 shares of the technology company’s stock after selling 4,670 shares during the period. BDF Gestion’s holdings in Arista Networks were worth $3,272,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Fragasso Financial Advisors Inc boosted its stake in shares of Arista Networks by 1.8% in the third quarter. Fragasso Financial Advisors Inc now owns 4,237 shares of the technology company’s stock valued at $616,000 after buying an additional 76 shares during the period. Stablepoint Partners LLC lifted its position in shares of Arista Networks by 0.8% during the 2nd quarter. Stablepoint Partners LLC now owns 9,406 shares of the technology company’s stock valued at $962,000 after acquiring an additional 77 shares during the period. Glenview Trust co lifted its position in shares of Arista Networks by 2.5% during the 2nd quarter. Glenview Trust co now owns 3,502 shares of the technology company’s stock valued at $358,000 after acquiring an additional 84 shares during the period. Telos Capital Management Inc. grew its holdings in shares of Arista Networks by 1.0% during the 2nd quarter. Telos Capital Management Inc. now owns 9,260 shares of the technology company’s stock worth $947,000 after purchasing an additional 88 shares in the last quarter. Finally, Ignite Planners LLC increased its position in shares of Arista Networks by 4.2% in the third quarter. Ignite Planners LLC now owns 2,290 shares of the technology company’s stock worth $334,000 after purchasing an additional 93 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

ANET has been the subject of several recent analyst reports. Barclays reaffirmed an “overweight” rating and set a $183.00 price objective (up previously from $179.00) on shares of Arista Networks in a research report on Wednesday, November 5th. Citigroup boosted their target price on shares of Arista Networks from $136.00 to $176.00 and gave the company a “buy” rating in a research report on Friday, September 12th. JPMorgan Chase & Co. increased their price target on shares of Arista Networks from $150.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, September 12th. William Blair reissued an “outperform” rating on shares of Arista Networks in a research note on Friday, September 12th. Finally, Weiss Ratings cut Arista Networks from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Seventeen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $163.56.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $131.29 on Friday. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $164.94. The company has a market cap of $165.33 billion, a price-to-earnings ratio of 49.92, a PEG ratio of 2.39 and a beta of 1.41. The firm has a 50 day simple moving average of $136.26 and a 200 day simple moving average of $127.71.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 EPS 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 company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the prior year, the company earned $2.40 EPS. Arista Networks’s revenue was up 27.5% compared to the same quarter last year. As a group, analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Buying and Selling at Arista Networks

In related news, insider Kenneth Duda sold 30,000 shares of Arista Networks stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $142.75, for a total transaction of $4,282,500.00. Following the sale, the insider directly owned 12,976 shares in the company, valued at $1,852,324. This trade represents a 69.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 transaction of $2,994,431.10. Following the sale, the chief executive officer directly owned 9,917 shares in the company, valued at $1,235,162.35. The trade was a 70.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 216,464 shares of company stock worth $28,598,588. 3.39% of the stock is currently owned by 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.