Geneos Wealth Management Inc. Decreases Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Geneos Wealth Management Inc. trimmed its position in shares of Arista Networks, Inc. (NYSE:ANET) by 15.5% during the 4th quarter, Holdings Channel reports. The fund owned 277 shares of the technology company’s stock after selling 51 shares during the period. Geneos Wealth Management Inc.’s holdings in Arista Networks were worth $65,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Arista Networks by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 27,898,836 shares of the technology company’s stock valued at $5,131,433,000 after buying an additional 84,212 shares during the period. FMR LLC raised its holdings in Arista Networks by 32.2% during 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 during the period. State Street Corp raised its holdings in Arista Networks by 3.2% during the 1st quarter. State Street Corp now owns 9,991,923 shares of the technology company’s stock valued at $1,677,231,000 after buying an additional 313,036 shares during the period. Morgan Stanley raised its holdings in Arista Networks by 162.2% during 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 during the period. Finally, Geode Capital Management LLC raised its holdings in Arista Networks by 1.8% during the 1st quarter. Geode Capital Management LLC now owns 5,112,297 shares of the technology company’s stock valued at $856,254,000 after buying an additional 91,829 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Trading Down 0.1 %

ANET opened at $262.81 on Wednesday. Arista Networks, Inc. has a 12-month low of $131.68 and a 12-month high of $307.74. The business’s fifty day simple moving average is $281.54 and its 200-day simple moving average is $243.95. The company has a market capitalization of $82.16 billion, a price-to-earnings ratio of 40.00, a PEG ratio of 2.34 and a beta of 1.09.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the company earned $1.25 EPS. The business’s revenue was up 20.8% compared to the same quarter last year. On average, equities research analysts predict that Arista Networks, Inc. will post 6.63 EPS for the current year.

Insider Activity at Arista Networks

In related news, Director Yvonne Wassenaar sold 186 shares of the firm’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $261.41, for a total transaction of $48,622.26. Following the sale, the director now owns 2,678 shares of the company’s stock, valued at $700,055.98. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Yvonne Wassenaar sold 186 shares of the firm’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $261.41, for a total transaction of $48,622.26. Following the sale, the director now owns 2,678 shares of the company’s stock, valued at $700,055.98. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $284.31, for a total value of $5,686,200.00. Following the sale, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $922,301.64. The disclosure for this sale can be found here. Insiders have sold a total of 361,036 shares of company stock valued at $102,813,921 over the last quarter. 18.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on ANET. Rosenblatt Securities restated a “sell” rating and set a $210.00 price target on shares of Arista Networks in a report on Friday, April 12th. JPMorgan Chase & Co. upped their price objective on Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Oppenheimer reaffirmed a “market perform” rating on shares of Arista Networks in a research report on Tuesday, February 13th. The Goldman Sachs Group upped their price objective on Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, Wells Fargo & Company upped their price objective on Arista Networks from $225.00 to $310.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $275.59.

Arista Networks 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.