Cooper Financial Group Has $1.98 Million Holdings in Arista Networks, Inc. $ANET

Cooper Financial Group trimmed its position in Arista Networks, Inc. (NYSE:ANET) by 34.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 13,582 shares of the technology company’s stock after selling 7,077 shares during the period. Cooper Financial Group’s holdings in Arista Networks were worth $1,979,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of ANET. SteelPeak Wealth LLC increased its holdings in Arista Networks by 23.8% in the second quarter. SteelPeak Wealth LLC now owns 40,404 shares of the technology company’s stock valued at $4,134,000 after purchasing an additional 7,779 shares during the period. Penobscot Investment Management Company Inc. grew its position in shares of Arista Networks by 7.8% in the 2nd quarter. Penobscot Investment Management Company Inc. now owns 39,073 shares of the technology company’s stock valued at $3,998,000 after buying an additional 2,815 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Arista Networks by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 98,993,100 shares of the technology company’s stock valued at $10,127,984,000 after buying an additional 1,136,167 shares during the last quarter. Holocene Advisors LP acquired a new stake in shares of Arista Networks in the second quarter valued at about $247,451,000. Finally, Soltis Investment Advisors LLC raised its position in shares of Arista Networks by 99.3% during the second quarter. Soltis Investment Advisors LLC now owns 40,428 shares of the technology company’s stock worth $4,136,000 after acquiring an additional 20,141 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Down 3.0%

Shares of NYSE ANET opened at $122.33 on Thursday. The firm has a market cap of $154.05 billion, a PE ratio of 46.51, a P/E/G ratio of 2.42 and a beta of 1.41. The company’s fifty day simple moving average is $137.41 and its 200 day simple moving average is $127.44. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $164.94.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.03. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.26 billion. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The business’s revenue was up 27.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.40 earnings per share. On average, equities analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Transactions at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 24,042 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total value of $2,994,431.10. Following the completion of the sale, the chief executive officer owned 9,917 shares of the company’s stock, valued at approximately $1,235,162.35. This trade represents a 70.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 58,000 shares of the business’s stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $148.42, for a total value of $8,608,360.00. The SEC filing for this sale provides additional information. Insiders sold a total of 218,464 shares of company stock valued at $30,309,988 in the last 90 days. Corporate insiders own 3.39% of the company’s stock.

Analyst Upgrades and Downgrades

ANET has been the subject of a number of recent analyst reports. Piper Sandler reissued a “neutral” rating and set a $145.00 target price (up previously from $143.00) on shares of Arista Networks in a research report on Wednesday, November 5th. Zacks Research lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Melius Research lifted their target price on shares of Arista Networks from $160.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Barclays restated an “overweight” rating and issued a $183.00 target price (up previously from $179.00) on shares of Arista Networks in a report on Wednesday, November 5th. Finally, Evercore ISI increased their price target on Arista Networks from $150.00 to $175.00 and gave the stock an “outperform” rating in a report on Friday, September 12th. Seventeen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and an average target price of $163.56.

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.