Exencial Wealth Advisors LLC Sells 71,481 Shares of Arista Networks, Inc. $ANET

Exencial Wealth Advisors LLC reduced its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 92.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,429 shares of the technology company’s stock after selling 71,481 shares during the quarter. Exencial Wealth Advisors LLC’s holdings in Arista Networks were worth $791,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. AdvisorNet Financial Inc lifted its stake in shares of Arista Networks by 56.7% in the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after buying an additional 72 shares during the period. Crown Wealth Group LLC increased its stake in Arista Networks by 2.4% during the third quarter. Crown Wealth Group LLC now owns 3,175 shares of the technology company’s stock valued at $463,000 after acquiring an additional 75 shares during the period. Fragasso Financial Advisors Inc raised its holdings in Arista Networks by 1.8% in the 3rd quarter. Fragasso Financial Advisors Inc now owns 4,237 shares of the technology company’s stock valued at $616,000 after acquiring an additional 76 shares in the last quarter. Stablepoint Partners LLC lifted its position in shares of Arista Networks by 0.8% in the 2nd quarter. Stablepoint Partners LLC now owns 9,406 shares of the technology company’s stock worth $962,000 after acquiring an additional 77 shares during the period. Finally, ORG Partners LLC grew its holdings in shares of Arista Networks by 13.1% during the 3rd quarter. ORG Partners LLC now owns 675 shares of the technology company’s stock worth $98,000 after purchasing an additional 78 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $133.79, for a total value of $1,070,320.00. Following the transaction, the director owned 17,784 shares of the company’s stock, valued at approximately $2,379,321.36. The trade was a 31.03% 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 hyperlink. Also, Director Kelly Bodnar Battles sold 422 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $117.15, for a total value of $49,437.30. Following the completion of the sale, the director owned 8,980 shares of the company’s stock, valued at approximately $1,052,007. This trade represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 160,464 shares of company stock worth $20,494,988. 3.39% of the stock is owned by company insiders.

Arista Networks Stock Up 4.4%

Shares of Arista Networks stock opened at $130.56 on Friday. The stock has a market capitalization of $164.41 billion, a P/E ratio of 49.64, a price-to-earnings-growth ratio of 2.10 and a beta of 1.41. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $164.94. The company has a 50-day simple moving average of $128.89 and a 200 day simple moving average of $132.46.

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ANET. Rosenblatt Securities restated a “neutral” rating and issued a $140.00 target price on shares of Arista Networks in a research note on Monday, November 24th. Barclays restated an “overweight” rating and issued a $183.00 price objective (up previously from $179.00) on shares of Arista Networks in a research note on Wednesday, November 5th. BNP Paribas raised shares of Arista Networks from a “hold” rating to an “outperform” rating in a report on Thursday, September 25th. Piper Sandler raised shares of Arista Networks from a “neutral” rating to an “overweight” rating and upped their target price for the company from $145.00 to $159.00 in a research note on Monday, January 5th. Finally, UBS Group reissued a “buy” rating and issued a $155.00 price target on shares of Arista Networks in a research report on Wednesday, December 3rd. Eighteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and a consensus target price of $164.44.

Arista Networks Profile

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.