Sentry Investment Management LLC Has $310,000 Stake in Arista Networks, Inc. (NYSE:ANET)

Sentry Investment Management LLC decreased its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 9.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,316 shares of the technology company’s stock after selling 141 shares during the period. Sentry Investment Management LLC’s holdings in Arista Networks were worth $310,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in ANET. AXQ Capital LP bought a new stake in Arista Networks during the 3rd quarter valued at approximately $791,000. Advisor Resource Council lifted its position in shares of Arista Networks by 507.9% in the 4th quarter. Advisor Resource Council now owns 7,021 shares of the technology company’s stock worth $1,653,000 after acquiring an additional 5,866 shares during the period. Bleakley Financial Group LLC lifted its position in shares of Arista Networks by 4.6% in the 4th quarter. Bleakley Financial Group LLC now owns 4,445 shares of the technology company’s stock worth $1,047,000 after acquiring an additional 194 shares during the period. WCM Investment Management LLC lifted its position in shares of Arista Networks by 0.5% in the 4th quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock worth $716,649,000 after acquiring an additional 16,081 shares during the period. Finally, Cambridge Trust Co. lifted its position in shares of Arista Networks by 70.1% during the 3rd quarter. Cambridge Trust Co. now owns 50,255 shares of the technology company’s stock worth $9,243,000 after buying an additional 20,704 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 18,621 shares of the business’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $257.60, for a total transaction of $4,796,769.60. Following the transaction, the chief executive officer now owns 82,766 shares of the company’s stock, valued at $21,320,521.60. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $284.31, for a total value of $5,686,200.00. Following the transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at $922,301.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jayshree Ullal sold 18,621 shares of the company’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $257.60, for a total value of $4,796,769.60. Following the completion of the transaction, the chief executive officer now directly owns 82,766 shares in the company, valued at approximately $21,320,521.60. 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 90 days. 18.99% of the stock is currently owned by insiders.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $262.22 on Tuesday. The firm has a market cap of $81.98 billion, a price-to-earnings ratio of 40.06, a price-to-earnings-growth ratio of 2.34 and a beta of 1.09. The stock’s 50-day moving average is $281.58 and its 200-day moving average is $243.39. Arista Networks, Inc. has a one year low of $131.68 and a one year high of $307.74.

Arista Networks (NYSE:ANET) last released its 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 for the quarter, compared to the consensus estimate of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. Arista Networks’s quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 earnings per share. On average, equities analysts expect that Arista Networks, Inc. will post 6.63 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on ANET. The Goldman Sachs Group raised their target price on Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. lifted their target price on Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Evercore ISI reissued an “outperform” rating and issued a $300.00 target price on shares of Arista Networks in a research note on Wednesday, March 27th. Morgan Stanley lifted their target price on Arista Networks from $230.00 to $272.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Barclays lifted their target price on Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $275.59.

Arista Networks Company 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.