Baader Bank Aktiengesellschaft Sells 5,060 Shares of Arista Networks, Inc. (NYSE:ANET)

Baader Bank Aktiengesellschaft trimmed its stake in Arista Networks, Inc. (NYSE:ANET) by 21.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,117 shares of the technology company’s stock after selling 5,060 shares during the period. Baader Bank Aktiengesellschaft’s holdings in Arista Networks were worth $4,262,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Arista Networks by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 27,898,836 shares of the technology company’s stock valued at $5,131,433,000 after acquiring an additional 84,212 shares during the period. FMR LLC grew its stake in Arista Networks by 32.2% during 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. WCM Investment Management LLC grew its stake in Arista Networks by 0.5% during the 4th quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock worth $716,649,000 after buying an additional 16,081 shares during the last quarter. Northern Trust Corp grew its stake in Arista Networks by 5.0% during the 3rd quarter. Northern Trust Corp now owns 2,403,738 shares of the technology company’s stock worth $442,120,000 after buying an additional 114,978 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in Arista Networks by 0.8% during the 4th quarter. Jennison Associates LLC now owns 1,807,494 shares of the technology company’s stock worth $425,683,000 after buying an additional 14,627 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Arista Networks Stock Performance

NYSE ANET traded down $5.94 during trading on Thursday, reaching $320.09. 1,955,580 shares of the company’s stock were exchanged, compared to its average volume of 2,549,929. The stock has a market cap of $100.30 billion, a P/E ratio of 45.39, a price-to-earnings-growth ratio of 2.80 and a beta of 1.13. The company has a 50 day moving average price of $282.42 and a two-hundred day moving average price of $256.09. Arista Networks, Inc. has a 1 year low of $133.42 and a 1 year high of $329.04.

Arista Networks (NYSE:ANET) last posted its earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a return on equity of 31.12% and a net margin of 37.64%. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the previous year, the firm earned $1.25 earnings per share. The business’s revenue was up 20.8% compared to the same quarter last year. Research analysts forecast that Arista Networks, Inc. will post 7.05 EPS for the current fiscal year.

Arista Networks declared that its Board of Directors has authorized a stock buyback plan on Tuesday, May 7th that allows the company to repurchase $1.20 billion in shares. This repurchase authorization allows the technology company to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have weighed in on ANET shares. Evercore ISI reiterated an “outperform” rating and set a $300.00 price target on shares of Arista Networks in a research note on Wednesday, March 27th. Wells Fargo & Company boosted their price objective on Arista Networks from $310.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. JMP Securities reissued a “market outperform” rating and issued a $325.00 price objective on shares of Arista Networks in a report on Tuesday, February 13th. Piper Sandler boosted their price objective on Arista Networks from $268.00 to $302.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $320.00 price objective on shares of Arista Networks in a report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $293.00.

Insider Activity at Arista Networks

In other Arista Networks news, Director Yvonne Wassenaar sold 224 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total transaction of $57,184.96. Following the transaction, the director now owns 2,827 shares in the company, valued at approximately $721,704.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Arista Networks news, Director Yvonne Wassenaar sold 224 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total transaction of $57,184.96. Following the transaction, the director now owns 2,827 shares in the company, valued at approximately $721,704.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John F. Mccool sold 5,374 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $267.51, for a total value of $1,437,598.74. Following the transaction, the insider now owns 1,792 shares in the company, valued at approximately $479,377.92. The disclosure for this sale can be found here. Insiders have sold 361,090 shares of company stock worth $104,326,565 in the last quarter. Company insiders own 3.54% of the company’s stock.

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.