Arista Networks, Inc. $ANET Shares Sold by SVB Wealth LLC

SVB Wealth LLC trimmed its position in shares of Arista Networks, Inc. (NYSE:ANET) by 30.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,076 shares of the technology company’s stock after selling 7,602 shares during the period. SVB Wealth LLC’s holdings in Arista Networks were worth $2,488,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Bare Financial Services Inc increased its stake in Arista Networks by 2,118.2% during the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after buying an additional 233 shares during the period. AdvisorNet Financial Inc boosted its holdings in shares of Arista Networks by 56.7% in the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after acquiring an additional 72 shares in the last quarter. Richardson Financial Services Inc. increased its stake in shares of Arista Networks by 141.3% during 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 during the period. SJS Investment Consulting Inc. raised its holdings in Arista Networks by 979.2% during the third quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock worth $38,000 after purchasing an additional 235 shares in the last quarter. Finally, Solstein Capital LLC raised its holdings in Arista Networks by 493.8% during the second quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock worth $39,000 after purchasing an additional 316 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Arista Networks in a research note on Monday, December 29th. Piper Sandler raised Arista Networks from a “neutral” rating to an “overweight” rating and raised their target price for the company from $145.00 to $159.00 in a research note on Monday, January 5th. Erste Group Bank cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. Morgan Stanley lowered their price objective on shares of Arista Networks from $171.00 to $159.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 17th. Finally, UBS Group reaffirmed a “buy” rating and issued a $155.00 price target on shares of Arista Networks in a report on Wednesday, December 3rd. Seventeen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $166.00.

Arista Networks Trading Up 1.4%

ANET opened at $143.71 on Wednesday. The stock has a market cap of $180.97 billion, a price-to-earnings ratio of 54.64, a PEG ratio of 2.39 and a beta of 1.42. The stock has a fifty day moving average price of $132.39 and a 200 day moving average price of $136.68. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $164.94.

Insiders Place Their Bets

In other Arista Networks news, insider Kenneth Duda sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $123.16, for a total transaction of $3,694,800.00. Following the completion of the sale, the insider owned 12,976 shares of the company’s stock, valued at $1,598,124.16. This represents a 69.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jayshree Ullal sold 24,042 shares of the business’s stock in a transaction 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 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 SEC filing for this sale provides additional information. Insiders have sold 216,464 shares of company stock valued at $27,553,548 over the last three months. 3.54% of the stock is currently 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.