Arista Networks, Inc. (NYSE:ANET) Stock Position Decreased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC cut its position in shares of Arista Networks, Inc. (NYSE:ANET) by 15.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 324,729 shares of the technology company’s stock after selling 60,654 shares during the period. Arista Networks accounts for about 1.4% of Wedge Capital Management L L P NC’s investment portfolio, making the stock its 12th largest position. Wedge Capital Management L L P NC owned approximately 0.10% of Arista Networks worth $76,477,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jennison Associates LLC increased its holdings in shares of Arista Networks by 0.8% during the 4th quarter. Jennison Associates LLC now owns 1,807,494 shares of the technology company’s stock valued at $425,683,000 after acquiring an additional 14,627 shares during the last quarter. OLD National Bancorp IN acquired a new position in shares of Arista Networks during the 4th quarter valued at about $235,000. Handelsbanken Fonder AB increased its holdings in shares of Arista Networks by 49.0% during the 4th quarter. Handelsbanken Fonder AB now owns 131,959 shares of the technology company’s stock valued at $31,078,000 after acquiring an additional 43,410 shares during the last quarter. CWM LLC increased its holdings in shares of Arista Networks by 12.6% during the 4th quarter. CWM LLC now owns 14,833 shares of the technology company’s stock valued at $3,493,000 after acquiring an additional 1,664 shares during the last quarter. Finally, Strata Wealth Advisors LLC acquired a new position in shares of Arista Networks during the 4th quarter valued at about $1,849,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 22,000 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $303.00, for a total value of $6,666,000.00. Following the completion of the sale, the chief executive officer now owns 1,665,300 shares of the company’s stock, valued at $504,585,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $286.52, for a total transaction of $573,040.00. Following the completion of the sale, the director now owns 60,946 shares of the company’s stock, valued at $17,462,247.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jayshree Ullal sold 22,000 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $303.00, for a total transaction of $6,666,000.00. Following the sale, the chief executive officer now owns 1,665,300 shares in the company, valued at $504,585,900. The disclosure for this sale can be found here. In the last ninety days, insiders sold 334,227 shares of company stock worth $95,828,875. 18.99% of the stock is currently owned by company insiders.

Arista Networks Stock Down 0.3 %

ANET stock traded down $0.62 during midday trading on Monday, reaching $245.47. The stock had a trading volume of 3,411,345 shares, compared to its average volume of 2,469,807. The firm has a market cap of $76.74 billion, a price-to-earnings ratio of 37.46, a PEG ratio of 2.10 and a beta of 1.09. Arista Networks, Inc. has a twelve month low of $131.68 and a twelve month high of $307.74. The business has a fifty day simple moving average of $280.29 and a two-hundred day simple moving average of $245.38.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the previous year, the company earned $1.25 EPS. Arista Networks’s revenue was up 20.8% on a year-over-year basis. On average, equities analysts predict that Arista Networks, Inc. will post 6.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of analyst reports. Melius Research raised Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a report on Monday, January 8th. Evercore ISI reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Arista Networks in a report on Wednesday, March 27th. Oppenheimer reaffirmed a “market perform” rating on shares of Arista Networks in a report on Tuesday, February 13th. KeyCorp raised their target price on Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a report on Thursday, January 18th. Finally, Morgan Stanley raised their target price on Arista Networks from $230.00 to $272.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $275.59.

Arista Networks Profile

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.