Arista Networks, Inc. $ANET Shares Sold by Roberts Glore & Co. Inc. IL

Roberts Glore & Co. Inc. IL reduced its stake in Arista Networks, Inc. (NYSE:ANET) by 26.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,154 shares of the technology company’s stock after selling 7,878 shares during the quarter. Arista Networks comprises approximately 0.9% of Roberts Glore & Co. Inc. IL’s portfolio, making the stock its 25th biggest holding. Roberts Glore & Co. Inc. IL’s holdings in Arista Networks were worth $3,228,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bare Financial Services Inc lifted its holdings in Arista Networks by 2,118.2% in the 2nd 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. AdvisorNet Financial Inc grew its holdings in shares of 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 in the last quarter. Richardson Financial Services Inc. raised its position in shares of Arista Networks by 141.3% in the third quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock valued at $32,000 after buying an additional 130 shares during the last quarter. SJS Investment Consulting Inc. raised its position in shares of Arista Networks by 979.2% in the third quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock valued at $38,000 after buying an additional 235 shares during the last quarter. Finally, Guerra Advisors Inc purchased a new position in shares of Arista Networks during the third quarter valued at approximately $41,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling

In related news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $140.43, for a total value of $1,123,440.00. Following the transaction, the director owned 9,784 shares in the company, valued at approximately $1,373,967.12. This trade represents a 44.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kelly Bodnar Battles sold 422 shares of Arista Networks stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $128.06, for a total transaction of $54,041.32. Following the transaction, the director directly owned 9,529 shares in the company, valued at approximately $1,220,283.74. This trade represents a 4.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 194,422 shares of company stock valued at $25,620,741. 3.39% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on ANET shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Arista Networks in a research note on Monday, December 29th. Erste Group Bank cut Arista Networks from a “buy” rating to a “hold” rating in a report on Monday, November 10th. Rosenblatt Securities upped their target price on Arista Networks from $140.00 to $165.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. KeyCorp reiterated an “overweight” rating and set a $178.00 target price (up from $170.00) on shares of Arista Networks in a research report on Friday, February 13th. Finally, Evercore reissued an “outperform” rating and issued a $200.00 price target on shares of Arista Networks in a research note on Friday, February 13th. Seventeen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $176.88.

Arista Networks Trading Up 3.2%

Shares of ANET opened at $132.90 on Thursday. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94. The firm has a market capitalization of $167.00 billion, a P/E ratio of 48.15, a price-to-earnings-growth ratio of 2.28 and a beta of 1.42. The stock’s fifty day simple moving average is $134.19 and its 200 day simple moving average is $137.44.

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

Arista Networks Company 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.