Glynn Capital Management LLC Has $13.70 Million Stock Holdings in Arista Networks, Inc. $ANET

Glynn Capital Management LLC reduced its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 10.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,008 shares of the technology company’s stock after selling 10,466 shares during the quarter. Arista Networks accounts for about 4.3% of Glynn Capital Management LLC’s holdings, making the stock its 13th biggest position. Glynn Capital Management LLC’s holdings in Arista Networks were worth $13,698,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ANET. Vanguard Group Inc. boosted its stake in Arista Networks by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 100,000,830 shares of the technology company’s stock valued at $14,571,121,000 after purchasing an additional 1,007,730 shares during the last quarter. Cresset Asset Management LLC lifted its holdings in shares of Arista Networks by 1.0% in the second quarter. Cresset Asset Management LLC now owns 26,374,373 shares of the technology company’s stock valued at $2,698,362,000 after purchasing an additional 263,272 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Arista Networks by 0.5% during the second quarter. Geode Capital Management LLC now owns 25,576,483 shares of the technology company’s stock valued at $2,606,694,000 after buying an additional 128,977 shares during the last quarter. Norges Bank bought a new stake in Arista Networks during the second quarter worth $1,228,177,000. Finally, Schroder Investment Management Group grew its stake in shares of Arista Networks by 14.8% in the 2nd quarter. Schroder Investment Management Group now owns 10,494,124 shares of the technology company’s stock worth $1,073,654,000 after acquiring an additional 1,350,593 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Rosenblatt Securities increased their price target on Arista Networks from $140.00 to $165.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. Erste Group Bank downgraded Arista Networks from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. Wells Fargo & Company raised their target price on Arista Networks from $175.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Arista Networks in a research note on Monday, December 29th. Finally, Needham & Company LLC increased their price target on shares of Arista Networks from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Seventeen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and a consensus target price of $176.88.

Arista Networks Stock Performance

ANET stock opened at $129.31 on Tuesday. The stock has a fifty day moving average of $134.32 and a 200-day moving average of $137.28. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $164.94. The company has a market capitalization of $162.49 billion, a price-to-earnings ratio of 46.85, a PEG ratio of 2.37 and a beta of 1.46.

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

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Kelly Bodnar Battles sold 422 shares of the stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $128.06, for a total transaction of $54,041.32. Following the sale, the director owned 9,529 shares in the company, valued at $1,220,283.74. This represents a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $140.43, for a total value of $1,123,440.00. Following the completion of the transaction, the director directly owned 9,784 shares of the company’s stock, valued at $1,373,967.12. The trade was a 44.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 188,237 shares of company stock valued at $24,836,400. 3.54% of the stock is owned by corporate insiders.

About Arista Networks

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.