Candriam S.C.A. Sells 7,756 Shares of Arista Networks, Inc. $ANET

Candriam S.C.A. lowered its position in shares of Arista Networks, Inc. (NYSE:ANET) by 6.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 113,815 shares of the technology company’s stock after selling 7,756 shares during the period. Candriam S.C.A.’s holdings in Arista Networks were worth $16,584,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Bare Financial Services Inc increased its holdings in shares of Arista Networks by 2,118.2% in the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after buying an additional 233 shares during the period. AdvisorNet Financial Inc grew its position in shares of Arista Networks by 56.7% in 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 during the last quarter. Richardson Financial Services Inc. boosted its holdings in Arista Networks by 141.3% in the third 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 in the last quarter. SJS Investment Consulting Inc. boosted its stake in shares of Arista Networks by 979.2% during the 3rd quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock valued at $38,000 after purchasing an additional 235 shares in the last quarter. Finally, Solstein Capital LLC boosted its position in Arista Networks by 493.8% during the 2nd quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock valued at $39,000 after acquiring an additional 316 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Stock Up 3.1%

NYSE:ANET opened at $141.79 on Tuesday. The stock has a market cap of $178.55 billion, a price-to-earnings ratio of 53.91, a PEG ratio of 2.32 and a beta of 1.42. The company’s 50 day moving average price is $132.06 and its 200-day moving average price is $136.47. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $164.94.

Analysts Set New Price Targets

ANET has been the topic of several recent research reports. Piper Sandler raised Arista Networks from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $145.00 to $159.00 in a research note on Monday, January 5th. Morgan Stanley reduced their target price on shares of Arista Networks from $171.00 to $159.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 17th. Erste Group Bank lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of Arista Networks in a research note on Monday, December 29th. Finally, UBS Group reaffirmed a “buy” rating and set a $155.00 target price on shares of Arista Networks in a research note on Wednesday, December 3rd. Seventeen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and an average price target of $164.44.

Insiders Place Their Bets

In other news, Director Kelly Bodnar Battles sold 422 shares of Arista Networks stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $117.15, for a total value of $49,437.30. Following the completion of the sale, the director directly owned 8,980 shares in the company, valued at $1,052,007. The trade was a 4.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jayshree Ullal sold 24,042 shares of Arista Networks 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 completion of the sale, the chief executive officer directly owned 9,917 shares of the company’s stock, valued at approximately $1,235,162.35. This trade represents a 70.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 216,464 shares of company stock worth $27,553,548 in the last 90 days. 3.54% of the stock is currently owned by company insiders.

Arista Networks 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.