Arista Networks, Inc. $ANET Shares Sold by Blair William & Co. IL

Blair William & Co. IL lowered its position in shares of Arista Networks, Inc. (NYSE:ANET) by 3.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,112,568 shares of the technology company’s stock after selling 44,814 shares during the quarter. Blair William & Co. IL’s holdings in Arista Networks were worth $162,112,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ANET. Walkner Condon Financial Advisors LLC lifted its position in Arista Networks by 0.4% during the third quarter. Walkner Condon Financial Advisors LLC now owns 18,509 shares of the technology company’s stock valued at $2,697,000 after buying an additional 70 shares in the last quarter. AdvisorNet Financial Inc grew its stake in Arista Networks by 56.7% during the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after buying an additional 72 shares during the period. Crown Wealth Group LLC increased its position in shares of Arista Networks by 2.4% in the third quarter. Crown Wealth Group LLC now owns 3,175 shares of the technology company’s stock worth $463,000 after acquiring an additional 75 shares in the last quarter. Fragasso Financial Advisors Inc increased its position in shares of Arista Networks by 1.8% in the third quarter. Fragasso Financial Advisors Inc now owns 4,237 shares of the technology company’s stock worth $616,000 after acquiring an additional 76 shares in the last quarter. Finally, West Family Investments Inc. raised its stake in shares of Arista Networks by 0.9% in the 3rd quarter. West Family Investments Inc. now owns 8,364 shares of the technology company’s stock valued at $1,219,000 after acquiring an additional 76 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ANET. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price target on shares of Arista Networks in a research report on Friday, February 13th. Barclays reissued an “overweight” rating and issued a $184.00 price objective (up from $183.00) on shares of Arista Networks in a research report on Friday, February 13th. Rosenblatt Securities boosted their price objective on Arista Networks from $140.00 to $165.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 10th. Needham & Company LLC upped their target price on Arista Networks from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Finally, Wells Fargo & Company increased their target price on Arista Networks from $175.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. Seventeen investment 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 presently has an average rating of “Moderate Buy” and a consensus target price of $176.88.

Arista Networks Trading Down 4.5%

Shares of ANET stock opened at $133.15 on Friday. The firm has a fifty day simple moving average of $134.45 and a 200-day simple moving average of $137.15. The company has a market capitalization of $167.31 billion, a PE ratio of 48.24, a price-to-earnings-growth ratio of 2.47 and a beta of 1.46. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Thursday, February 12th. The technology company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.07. The firm had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.38 billion. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The firm’s quarterly revenue was up 28.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 EPS. Equities research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insiders Place Their Bets

In related news, Director Yvonne Wassenaar sold 1,815 shares of the stock in a transaction dated Wednesday, February 25th. The stock was 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 of the company’s stock, valued at approximately $1,665,300.56. This represents a 12.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $128.67, for a total value of $1,029,360.00. Following the sale, the director owned 1,784 shares of the company’s stock, valued at approximately $229,547.28. This trade represents a 81.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 196,237 shares of company stock valued at $25,865,760 in the last three months. 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.