Clarius Group LLC Sells 187 Shares of Arista Networks, Inc. (NYSE:ANET)

Clarius Group LLC lessened its stake in Arista Networks, Inc. (NYSE:ANET) by 10.9% during the fourth quarter, HoldingsChannel reports. The firm owned 1,527 shares of the technology company’s stock after selling 187 shares during the period. Clarius Group LLC’s holdings in Arista Networks were worth $360,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of ANET. Morgan Stanley grew its stake in Arista Networks by 162.2% in the 4th quarter. Morgan Stanley now owns 5,549,335 shares of the technology company’s stock valued at $673,412,000 after buying an additional 3,432,952 shares in the last quarter. Norges Bank purchased a new position in Arista Networks in the 4th quarter valued at approximately $308,885,000. FMR LLC grew its stake in Arista Networks by 32.2% in the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock valued at $1,897,906,000 after buying an additional 2,515,864 shares in the last quarter. Schroder Investment Management Group grew its stake in Arista Networks by 439.3% in the 3rd quarter. Schroder Investment Management Group now owns 1,259,305 shares of the technology company’s stock valued at $231,624,000 after buying an additional 1,025,815 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its stake in Arista Networks by 1,424.3% in the 4th quarter. 1832 Asset Management L.P. now owns 875,198 shares of the technology company’s stock valued at $106,205,000 after buying an additional 817,781 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Activity

In other news, CEO Jayshree Ullal sold 18,621 shares of the company’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $257.60, for a total transaction of $4,796,769.60. Following the completion of the transaction, the chief executive officer now directly owns 82,766 shares of the company’s stock, valued at $21,320,521.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Jayshree Ullal sold 18,621 shares of the company’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $257.60, for a total transaction of $4,796,769.60. Following the completion of the transaction, the chief executive officer now directly owns 82,766 shares of the company’s stock, valued at $21,320,521.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Yvonne Wassenaar sold 186 shares of the company’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $261.41, for a total transaction of $48,622.26. Following the transaction, the director now directly owns 2,678 shares of the company’s stock, valued at $700,055.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 361,036 shares of company stock valued at $102,813,921. Insiders own 18.99% of the company’s stock.

Analyst Ratings Changes

ANET has been the subject of a number of recent analyst reports. Melius upgraded shares of Arista Networks from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Morgan Stanley boosted their price target on shares of Arista Networks from $230.00 to $272.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Piper Sandler boosted their price target on shares of Arista Networks from $254.00 to $268.00 and gave the company a “neutral” rating in a research report on Tuesday, February 13th. JMP Securities restated a “market outperform” rating and set a $325.00 price target on shares of Arista Networks in a research report on Tuesday, February 13th. Finally, KeyCorp boosted their price target on shares of Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a research report on Thursday, January 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $275.59.

Arista Networks Stock Down 8.6 %

Arista Networks stock opened at $271.22 on Monday. The company has a market capitalization of $84.79 billion, a PE ratio of 41.28, a P/E/G ratio of 2.34 and a beta of 1.09. The firm has a fifty day simple moving average of $281.78 and a two-hundred day simple moving average of $242.84. Arista Networks, Inc. has a twelve month low of $131.68 and a twelve month high of $307.74.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.38. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The firm’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.25 earnings per share. As a group, equities analysts expect that Arista Networks, Inc. will post 6.63 earnings per share for the current fiscal year.

Arista Networks Company Profile

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.