Nepsis Inc. Sells 46,009 Shares of Arista Networks, Inc. $ANET

Nepsis Inc. decreased its stake in Arista Networks, Inc. (NYSE:ANET) by 36.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 78,853 shares of the technology company’s stock after selling 46,009 shares during the quarter. Arista Networks makes up 3.6% of Nepsis Inc.’s holdings, making the stock its 15th largest holding. Nepsis Inc.’s holdings in Arista Networks were worth $11,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of ANET. Oregon Public Employees Retirement Fund raised its stake in shares of Arista Networks by 32.3% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 117,788 shares of the technology company’s stock worth $17,163,000 after purchasing an additional 28,742 shares in the last quarter. Cromwell Holdings LLC increased its stake in shares of Arista Networks by 5.3% during the 3rd quarter. Cromwell Holdings LLC now owns 3,105 shares of the technology company’s stock worth $452,000 after purchasing an additional 157 shares during the last quarter. Capital Investment Advisors LLC raised its holdings in shares of Arista Networks by 11.3% in the 3rd quarter. Capital Investment Advisors LLC now owns 7,647 shares of the technology company’s stock valued at $1,114,000 after purchasing an additional 779 shares during the period. Essex LLC lifted its stake in Arista Networks by 2.1% in the 3rd quarter. Essex LLC now owns 11,364 shares of the technology company’s stock valued at $1,656,000 after purchasing an additional 236 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in Arista Networks by 2.6% during the third quarter. Nisa Investment Advisors LLC now owns 233,664 shares of the technology company’s stock worth $34,047,000 after purchasing an additional 5,995 shares during the period. Institutional investors own 82.47% of the company’s stock.

Arista Networks Trading Down 0.5%

Shares of Arista Networks stock opened at $123.05 on Friday. The company has a market cap of $154.95 billion, a PE ratio of 46.79, a price-to-earnings-growth ratio of 2.08 and a beta of 1.41. The company has a 50 day moving average of $130.43 and a 200-day moving average of $131.65. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $164.94.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The business’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.40 earnings per share. Research analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ANET shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Arista Networks in a research report on Monday, December 29th. Barclays reaffirmed an “overweight” rating and set a $183.00 price target (up previously from $179.00) on shares of Arista Networks in a report on Wednesday, November 5th. Needham & Company LLC lifted their price objective on shares of Arista Networks from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. BNP Paribas Exane raised shares of Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 price objective on the stock in a research report on Thursday, September 25th. Finally, BNP Paribas raised shares of Arista Networks from a “hold” rating to an “outperform” rating in a report on Thursday, September 25th. Eighteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and a consensus price target of $164.44.

Insider Activity at Arista Networks

In related news, insider Kenneth Duda sold 30,000 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $123.16, for a total value of $3,694,800.00. Following the completion of the sale, the insider directly owned 12,976 shares in the company, valued at $1,598,124.16. This represents a 69.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $133.79, for a total value of $1,070,320.00. Following the transaction, the director directly owned 17,784 shares in the company, valued at $2,379,321.36. The trade was a 31.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 216,464 shares of company stock worth $28,488,988 in the last quarter. 3.39% of the stock is owned by insiders.

About Arista Networks

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.