Marietta Investment Partners LLC Has $14.17 Million Stock Holdings in Arista Networks, Inc. $ANET

Marietta Investment Partners LLC decreased its stake in Arista Networks, Inc. (NYSE:ANET) by 6.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 97,262 shares of the technology company’s stock after selling 6,761 shares during the period. Arista Networks accounts for about 2.7% of Marietta Investment Partners LLC’s holdings, making the stock its 5th biggest holding. Marietta Investment Partners LLC’s holdings in Arista Networks were worth $14,172,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Arista Networks during the 2nd quarter worth approximately $1,228,177,000. Massachusetts Financial Services Co. MA lifted its holdings in Arista Networks by 2,829.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,721,156 shares of the technology company’s stock valued at $833,630,000 after buying an additional 5,525,828 shares during the period. Holocene Advisors LP acquired a new position in Arista Networks in the second quarter valued at $247,451,000. Schroder Investment Management Group grew its holdings in Arista Networks by 14.8% during 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 during the period. Finally, Panagora Asset Management Inc. grew its holdings in Arista Networks by 282.9% during the 2nd quarter. Panagora Asset Management Inc. now owns 1,549,486 shares of the technology company’s stock worth $158,528,000 after acquiring an additional 1,144,786 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ANET has been the topic of several research analyst reports. Needham & Company LLC upped their target price on Arista Networks from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Evercore reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Arista Networks in a research report on Friday, February 13th. UBS Group set a $200.00 target price on shares of Arista Networks in a research report on Tuesday, February 24th. Erste Group Bank cut shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Monday, November 10th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Arista Networks in a report on Monday, December 29th. Seventeen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Arista Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $176.88.

Arista Networks Stock Up 3.2%

ANET stock opened at $139.16 on Friday. The firm has a market capitalization of $174.86 billion, a PE ratio of 50.42, a P/E/G ratio of 2.39 and a beta of 1.46. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94. The stock’s 50 day moving average is $134.43 and its 200-day moving average is $137.19.

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

Insider Activity at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $140.43, for a total transaction of $1,123,440.00. Following the transaction, the director directly owned 9,784 shares in the company, valued at approximately $1,373,967.12. The trade was a 44.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Yvonne Wassenaar sold 1,815 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $132.44, for a total transaction of $240,378.60. Following the completion of the sale, the director owned 12,574 shares of the company’s stock, valued at approximately $1,665,300.56. This trade represents a 12.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 196,237 shares of company stock valued at $25,865,760 over the last ninety days. Corporate insiders own 3.39% of the company’s stock.

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.