Arista Networks, Inc. (NYSE:ANET) Position Cut by Northcape Wealth Management LLC

Northcape Wealth Management LLC cut its position in Arista Networks, Inc. (NYSE:ANET) by 20.2% during the 4th quarter, HoldingsChannel reports. The firm owned 11,561 shares of the technology company’s stock after selling 2,931 shares during the quarter. Northcape Wealth Management LLC’s holdings in Arista Networks were worth $2,723,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of ANET. FMR LLC grew its position 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 increased its stake in shares of Arista Networks by 439.3% during the third quarter. Schroder Investment Management Group now owns 1,259,305 shares of the technology company’s stock valued at $231,624,000 after acquiring an additional 1,025,815 shares during the period. International Assets Investment Management LLC boosted its holdings in Arista Networks by 25,188.0% in the fourth quarter. International Assets Investment Management LLC now owns 613,739 shares of the technology company’s stock worth $1,445,420,000 after purchasing an additional 611,312 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Arista Networks by 294.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 745,634 shares of the technology company’s stock valued at $175,604,000 after buying an additional 556,568 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Arista Networks by 122.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 826,160 shares of the technology company’s stock worth $151,956,000 after purchasing an additional 454,146 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Activity

In other news, Director Yvonne Wassenaar sold 224 shares of Arista Networks stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total value of $57,184.96. Following the completion of the sale, the director now directly owns 2,827 shares of the company’s stock, valued at approximately $721,704.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider John F. Mccool sold 420 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $266.08, for a total transaction of $111,753.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Yvonne Wassenaar sold 224 shares of Arista Networks stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total value of $57,184.96. Following the transaction, the director now owns 2,827 shares of the company’s stock, valued at approximately $721,704.83. The disclosure for this sale can be found here. Insiders have sold 332,514 shares of company stock valued at $95,369,397 over the last three months. 18.99% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ANET. The Goldman Sachs Group boosted their price objective on shares of Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. JMP Securities reiterated a “market outperform” rating and set a $325.00 price target on shares of Arista Networks in a report on Tuesday, February 13th. KeyCorp raised their price objective on shares of Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a research note on Thursday, January 18th. Needham & Company LLC reiterated a “buy” rating and set a $320.00 target price on shares of Arista Networks in a research note on Tuesday, February 13th. Finally, Rosenblatt Securities restated a “sell” rating and set a $210.00 price objective on shares of Arista Networks in a report on Friday, April 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and an average price target of $275.59.

Arista Networks Stock Down 2.7 %

ANET traded down $7.11 during trading on Tuesday, hitting $256.56. The company’s stock had a trading volume of 2,039,195 shares, compared to its average volume of 2,465,440. The firm’s 50 day moving average price is $279.13 and its two-hundred day moving average price is $248.11. The stock has a market capitalization of $80.46 billion, a price-to-earnings ratio of 39.95, a price-to-earnings-growth ratio of 2.26 and a beta of 1.09. Arista Networks, Inc. has a 12 month low of $131.68 and a 12 month high of $307.74.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The firm’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.25 earnings per share. On average, sell-side analysts forecast that Arista Networks, Inc. will post 6.7 earnings per share for the current year.

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.