Intellectus Partners LLC Cuts Stake in Arista Networks, Inc. (NYSE:ANET)

Intellectus Partners LLC cut its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 25.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,750 shares of the technology company’s stock after selling 600 shares during the quarter. Intellectus Partners LLC’s holdings in Arista Networks were worth $412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in ANET. FMR LLC grew its position in shares of Arista Networks by 32.2% in the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock worth $1,897,906,000 after buying an additional 2,515,864 shares during the last quarter. Schroder Investment Management Group grew its stake in shares of Arista Networks by 439.3% in the third quarter. Schroder Investment Management Group now owns 1,259,305 shares of the technology company’s stock worth $231,624,000 after acquiring an additional 1,025,815 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Arista Networks by 25,188.0% in the fourth quarter. International Assets Investment Management LLC now owns 613,739 shares of the technology company’s stock worth $1,445,420,000 after buying an additional 611,312 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Arista Networks by 294.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 745,634 shares of the technology company’s stock valued at $175,604,000 after acquiring an additional 556,568 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Arista Networks by 122.1% during the third quarter. Envestnet Asset Management Inc. now owns 826,160 shares of the technology company’s stock valued at $151,956,000 after buying an additional 454,146 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Down 0.0 %

NYSE:ANET opened at $264.70 on Monday. The firm has a 50 day moving average of $279.09 and a 200 day moving average of $247.61. Arista Networks, Inc. has a 52 week low of $131.68 and a 52 week high of $307.74. The stock has a market capitalization of $83.01 billion, a price-to-earnings ratio of 40.29, a PEG ratio of 2.26 and a beta of 1.09.

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Barclays lifted their target price on Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. Melius raised shares of Arista Networks from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. Melius Research upgraded Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a research note on Monday, January 8th. Rosenblatt Securities reissued a “sell” rating and set a $210.00 target price on shares of Arista Networks in a research note on Friday, April 12th. Finally, JPMorgan Chase & Co. raised their price target on shares of Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $275.59.

Insider Activity

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $284.31, for a total value of $5,686,200.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at $922,301.64. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $284.31, for a total value of $5,686,200.00. Following the completion of the transaction, the senior vice president now directly owns 3,244 shares in the company, valued at $922,301.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $286.52, for a total transaction of $573,040.00. Following the completion of the transaction, the director now owns 60,946 shares in the company, valued at approximately $17,462,247.92. The disclosure for this sale can be found here. Insiders have sold a total of 332,514 shares of company stock worth $95,369,397 over the last 90 days. 18.99% of the stock is currently owned by corporate insiders.

About Arista Networks

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.