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

Denali Advisors LLC reduced its holdings in Arista Networks, Inc. (NYSE:ANET) by 42.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,276 shares of the technology company’s stock after selling 7,458 shares during the quarter. Denali Advisors LLC’s holdings in Arista Networks were worth $1,497,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Arista Networks during the 2nd quarter valued at $1,228,177,000. Massachusetts Financial Services Co. MA raised its position in shares of Arista Networks by 2,829.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,721,156 shares of the technology company’s stock worth $833,630,000 after purchasing an additional 5,525,828 shares during the period. Holocene Advisors LP purchased a new stake in shares of Arista Networks during the second quarter valued at $247,451,000. Schroder Investment Management Group boosted its position in shares of Arista Networks by 14.8% in the 2nd quarter. Schroder Investment Management Group now owns 10,494,124 shares of the technology company’s stock valued at $1,073,654,000 after purchasing an additional 1,350,593 shares during the period. Finally, Panagora Asset Management Inc. boosted its position in shares of Arista Networks by 282.9% in the 2nd quarter. Panagora Asset Management Inc. now owns 1,549,486 shares of the technology company’s stock valued at $158,528,000 after purchasing an additional 1,144,786 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Stock Up 4.7%

Arista Networks stock opened at $141.46 on Tuesday. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $164.94. The stock has a market cap of $178.13 billion, a P/E ratio of 51.25, a P/E/G ratio of 2.39 and a beta of 1.42. The company’s fifty day simple moving average is $133.30 and its 200-day simple moving average is $137.23.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, February 12th. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.07. Arista Networks had a return on equity of 30.37% and a net margin of 38.99%.The firm had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter last year, the firm earned $0.66 earnings per share. The business’s revenue for the quarter was up 28.9% on a year-over-year basis. On average, equities research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Morgan Stanley restated an “overweight” rating and set a $165.00 price objective on shares of Arista Networks in a report on Friday. KeyCorp reissued an “overweight” rating and issued a $178.00 target price (up from $170.00) on shares of Arista Networks in a research report on Friday. Weiss Ratings restated a “hold (c+)” rating on shares of Arista Networks in a research report on Monday, December 29th. Barclays reaffirmed an “overweight” rating and issued a $184.00 price objective (up previously from $183.00) on shares of Arista Networks in a research note on Friday. Finally, Rosenblatt Securities boosted their target price on shares of Arista Networks from $140.00 to $165.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Eighteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $175.41.

Insider Transactions at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 24,042 shares of the business’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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kelly Bodnar Battles sold 422 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $117.15, for a total transaction of $49,437.30. Following the transaction, the director owned 8,980 shares in the company, valued at $1,052,007. This represents a 4.49% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 160,464 shares of company stock worth $20,351,388. 3.54% of the stock is owned by corporate 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.