Arista Networks, Inc. $ANET Stake Decreased by Vivid Wealth Management LLC

Vivid Wealth Management LLC trimmed its holdings in Arista Networks, Inc. (NYSE:ANET) by 21.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,249 shares of the technology company’s stock after selling 5,343 shares during the quarter. Arista Networks comprises 1.1% of Vivid Wealth Management LLC’s portfolio, making the stock its 29th largest holding. Vivid Wealth Management LLC’s holdings in Arista Networks were worth $2,805,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Arista Networks by 1.2% in the second quarter. Vanguard Group Inc. now owns 98,993,100 shares of the technology company’s stock worth $10,127,984,000 after purchasing an additional 1,136,167 shares during the period. Cresset Asset Management LLC raised its position in shares of Arista Networks by 1.0% during the 2nd quarter. Cresset Asset Management LLC now owns 26,374,373 shares of the technology company’s stock worth $2,698,362,000 after buying an additional 263,272 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of 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 worth $2,606,694,000 after acquiring an additional 128,977 shares during the period. Norges Bank bought a new position in shares of Arista Networks in the second quarter valued at approximately $1,228,177,000. Finally, Schroder Investment Management Group boosted its holdings in shares of Arista Networks by 14.8% in the second quarter. Schroder Investment Management Group now owns 10,494,124 shares of the technology company’s stock valued at $1,073,654,000 after acquiring an additional 1,350,593 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Erste Group Bank cut Arista Networks from a “buy” rating to a “hold” rating in a report on Monday, November 10th. UBS Group reissued a “buy” rating and issued a $155.00 price objective on shares of Arista Networks in a research note on Wednesday, December 3rd. BNP Paribas Exane raised Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 target price for the company in a research note on Thursday, September 25th. Needham & Company LLC boosted their price target 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. Finally, BNP Paribas upgraded shares of Arista Networks from a “hold” rating to an “outperform” rating in a research report on Thursday, September 25th. Eighteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and a consensus target price of $164.44.

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 24,042 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $1,235,162.35. This trade represents a 70.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kenneth Duda sold 26,000 shares of Arista Networks stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $123.16, for a total value of $3,202,160.00. Following the transaction, the insider directly owned 532,400 shares in the company, valued at approximately $65,570,384. This trade represents a 4.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 216,464 shares of company stock valued at $28,488,988 in the last 90 days. Insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

Shares of ANET opened at $123.34 on Tuesday. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $164.94. The company has a 50-day moving average of $129.74 and a two-hundred day moving average of $132.31. The stock has a market cap of $155.32 billion, a price-to-earnings ratio of 46.90, a PEG ratio of 2.07 and a beta of 1.41.

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

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.