World Investment Advisors Reduces Position in Arista Networks, Inc. $ANET

World Investment Advisors trimmed its holdings in Arista Networks, Inc. (NYSE:ANET) by 38.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,850 shares of the technology company’s stock after selling 4,321 shares during the period. World Investment Advisors’ holdings in Arista Networks were worth $998,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. AdvisorNet Financial Inc raised its holdings in Arista Networks by 56.7% in the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after acquiring an additional 72 shares during the last quarter. Bare Financial Services Inc grew its position in shares of Arista Networks by 2,118.2% in the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after purchasing an additional 233 shares in the last quarter. REAP Financial Group LLC increased its holdings in shares of Arista Networks by 108.0% in the second quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock valued at $34,000 after purchasing an additional 175 shares during the last quarter. Nova Wealth Management Inc. lifted its position in Arista Networks by 215.7% during the third quarter. Nova Wealth Management Inc. now owns 341 shares of the technology company’s stock worth $50,000 after buying an additional 233 shares in the last quarter. Finally, Solstein Capital LLC boosted its stake 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 buying an additional 316 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Kelly Bodnar Battles sold 422 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $117.15, for a total value of $49,437.30. Following the completion of the transaction, the director owned 8,980 shares of the company’s stock, valued at $1,052,007. This trade represents a 4.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Kenneth Duda sold 26,000 shares of the business’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $123.16, for a total transaction of $3,202,160.00. Following the completion of the transaction, the insider owned 532,400 shares of the company’s stock, valued at approximately $65,570,384. This trade represents a 4.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 216,464 shares of company stock worth $28,598,588 over the last ninety days. Company insiders own 3.54% of the company’s stock.

Analyst Upgrades and Downgrades

ANET has been the topic of several analyst reports. BNP Paribas Exane upgraded Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 price target on the stock in a report on Thursday, September 25th. Wolfe Research raised their price objective on shares of Arista Networks from $160.00 to $185.00 and gave the stock an “outperform” rating in a research report on Friday, September 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Arista Networks in a report on Monday, December 22nd. Evercore ISI raised their price target on shares of Arista Networks from $150.00 to $175.00 and gave the stock an “outperform” rating in a report on Friday, September 12th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $140.00 price objective on shares of Arista Networks in a report on Monday, November 24th. Seventeen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Arista Networks presently has a consensus rating of “Moderate Buy” and an average price target of $163.56.

Arista Networks Stock Up 0.9%

NYSE:ANET opened at $131.92 on Monday. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $164.94. The stock’s fifty day moving average is $135.01 and its two-hundred day moving average is $129.44. The stock has a market capitalization of $166.13 billion, a price-to-earnings ratio of 50.16, a price-to-earnings-growth ratio of 2.52 and a beta of 1.41.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.03. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the previous year, the business earned $2.40 EPS. The company’s quarterly revenue was up 27.5% compared to the same quarter last year. On average, sell-side analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

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.