General American Investors Co. Inc. Sells 14,000 Shares of Arista Networks, Inc. $ANET

General American Investors Co. Inc. decreased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 8.5% during the 3rd quarter, Holdings Channel reports. The firm owned 150,679 shares of the technology company’s stock after selling 14,000 shares during the quarter. Arista Networks comprises 1.3% of General American Investors Co. Inc.’s holdings, making the stock its 24th largest position. General American Investors Co. Inc.’s holdings in Arista Networks were worth $21,955,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. AdvisorNet Financial Inc boosted its holdings in shares of Arista Networks by 56.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after buying an additional 72 shares in the last quarter. Richardson Financial Services Inc. lifted its position in shares of Arista Networks by 141.3% during the 3rd quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock valued at $32,000 after acquiring an additional 130 shares during the period. Bare Financial Services Inc boosted its stake in Arista Networks by 2,118.2% during the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after acquiring an additional 233 shares in the last quarter. SJS Investment Consulting Inc. boosted its stake in Arista Networks by 979.2% during the third quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock worth $38,000 after acquiring an additional 235 shares in the last quarter. Finally, REAP Financial Group LLC grew its holdings in Arista Networks by 108.0% in the second quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock worth $34,000 after purchasing an additional 175 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 24,042 shares of Arista Networks 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 transaction, the chief executive officer directly owned 9,917 shares of the company’s stock, valued at $1,235,162.35. The trade was a 70.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $133.79, for a total transaction of $1,070,320.00. Following the completion of the sale, the director owned 17,784 shares of the company’s stock, valued at approximately $2,379,321.36. The trade was a 31.03% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 216,464 shares of company stock worth $27,687,068. Corporate insiders own 3.54% of the company’s stock.

Analyst Upgrades and Downgrades

ANET has been the topic of several research reports. Barclays reiterated an “overweight” rating and set a $183.00 price objective (up previously from $179.00) on shares of Arista Networks in a report on Wednesday, November 5th. UBS Group reaffirmed a “buy” rating and set a $155.00 price target on shares of Arista Networks in a research note on Wednesday, December 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Arista Networks in a report on Monday, December 29th. Piper Sandler upgraded Arista Networks from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $145.00 to $159.00 in a report on Monday, January 5th. Finally, Morgan Stanley lowered their target price on Arista Networks from $171.00 to $159.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 17th. Seventeen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $164.44.

Arista Networks Stock Performance

ANET stock opened at $143.91 on Tuesday. The business has a 50-day simple moving average of $128.95 and a two-hundred day simple moving average of $134.38. The company has a market capitalization of $181.22 billion, a P/E ratio of 54.72, a price-to-earnings-growth ratio of 2.29 and a beta of 1.41. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $164.94.

Arista Networks (NYSE:ANET) last posted its earnings results 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. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the company earned $2.40 earnings per share. As a group, sell-side analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

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.