Blair William & Co. IL Reduces Position in Arista Networks, Inc. $ANET

Blair William & Co. IL trimmed its stake in Arista Networks, Inc. (NYSE:ANET) by 3.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,112,568 shares of the technology company’s stock after selling 44,814 shares during the quarter. Blair William & Co. IL owned approximately 0.09% of Arista Networks worth $162,112,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Arista Networks by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 100,000,830 shares of the technology company’s stock worth $14,571,121,000 after purchasing an additional 1,007,730 shares in the last quarter. Cresset Asset Management LLC lifted its holdings in Arista Networks by 1.0% in the 2nd quarter. Cresset Asset Management LLC now owns 26,374,373 shares of the technology company’s stock valued at $2,698,362,000 after purchasing an additional 263,272 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Arista Networks by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 25,576,483 shares of the technology company’s stock valued at $2,606,694,000 after purchasing an additional 128,977 shares in the last quarter. Norges Bank acquired a new stake in shares of Arista Networks during the 2nd quarter worth about $1,228,177,000. Finally, Schroder Investment Management Group boosted its stake in shares of Arista Networks by 14.8% during the 2nd quarter. Schroder Investment Management Group now owns 10,494,124 shares of the technology company’s stock worth $1,073,654,000 after purchasing an additional 1,350,593 shares during the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ANET shares. Needham & Company LLC boosted their price objective on shares of Arista Networks from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, February 13th. UBS Group set a $200.00 target price on shares of Arista Networks in a research report on Tuesday, February 24th. Piper Sandler reiterated an “overweight” rating and issued a $175.00 price target (up from $159.00) on shares of Arista Networks in a report on Friday, February 13th. Wells Fargo & Company increased their price target on Arista Networks from $175.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, February 13th. Finally, Erste Group Bank cut Arista Networks from a “buy” rating to a “hold” rating in a report on Monday, November 10th. Seventeen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $176.88.

Arista Networks Price Performance

Shares of ANET stock opened at $133.15 on Friday. The firm’s 50-day simple moving average is $134.45 and its 200-day simple moving average is $137.15. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $164.94. The firm has a market cap of $167.31 billion, a P/E ratio of 48.24, a PEG ratio of 2.47 and a beta of 1.46.

Arista Networks (NYSE:ANET) last released its earnings results 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 net margin of 38.99% and a return on equity of 30.37%. The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the previous year, the firm earned $0.66 earnings per share. Arista Networks’s revenue was up 28.9% compared to the same quarter last year. Analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Arista Networks

In related news, insider Kenneth Duda sold 32,000 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $142.44, for a total value of $4,558,080.00. Following the transaction, the insider directly owned 12,976 shares of the company’s stock, valued at approximately $1,848,301.44. This trade represents a 71.15% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Yvonne Wassenaar sold 1,815 shares of Arista Networks stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $132.44, for a total value of $240,378.60. Following the completion of the transaction, the director owned 12,574 shares in the company, valued at $1,665,300.56. The trade was a 12.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 196,237 shares of company stock worth $25,865,760 in the last quarter. 3.39% of the stock is owned by 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.