Arista Networks, Inc. $ANET Shares Sold by Denali Advisors LLC

Denali Advisors LLC cut its stake in Arista Networks, Inc. (NYSE:ANET) by 42.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,276 shares of the technology company’s stock after selling 7,458 shares during the period. Denali Advisors LLC’s holdings in Arista Networks were worth $1,497,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. AdvisorNet Financial Inc boosted its position in Arista Networks by 56.7% during the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after purchasing an additional 72 shares in the last quarter. Richardson Financial Services Inc. increased its position in shares of Arista Networks by 141.3% in the third quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock valued at $32,000 after buying an additional 130 shares in the last quarter. Bare Financial Services Inc raised its stake in shares of Arista Networks by 2,118.2% during the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after buying an additional 233 shares during the last quarter. SJS Investment Consulting Inc. boosted its position in shares of Arista Networks by 979.2% in the 3rd quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock worth $38,000 after buying an additional 235 shares in the last quarter. Finally, Guerra Advisors Inc purchased a new stake in shares of Arista Networks in the 3rd quarter worth about $41,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Activity at Arista Networks

In related news, insider Kenneth Duda sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $123.16, for a total value of $3,694,800.00. Following the sale, the insider directly owned 12,976 shares of the company’s stock, valued at approximately $1,598,124.16. This trade represents a 69.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kelly Bodnar Battles sold 422 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $117.15, for a total transaction 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. The trade was a 4.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 160,464 shares of company stock worth $20,351,388. 3.54% of the stock is owned by insiders.

Arista Networks Stock Performance

Shares of NYSE ANET opened at $141.46 on Tuesday. The firm has a market cap of $178.13 billion, a P/E ratio of 51.25, a price-to-earnings-growth ratio of 2.39 and a beta of 1.42. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $164.94. The firm’s 50 day moving average price is $133.30 and its 200 day moving average price is $137.23.

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

Analyst Ratings Changes

ANET has been the subject of several recent research reports. Wells Fargo & Company raised their target price on shares of Arista Networks from $175.00 to $185.00 and gave the company an “overweight” rating in a report on Friday. UBS Group reissued a “buy” rating and set a $177.00 price objective on shares of Arista Networks in a research note on Friday. Erste Group Bank downgraded Arista Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. Rosenblatt Securities upped their target price on Arista Networks from $140.00 to $165.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $188.00 price target (up previously from $165.00) on shares of Arista Networks in a research report on Friday. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $175.41.

Arista Networks Company 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.