Perpetual Ltd Has $2.72 Million Stake in Arista Networks, Inc. $ANET

Perpetual Ltd lessened its stake in Arista Networks, Inc. (NYSE:ANET) by 35.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 18,691 shares of the technology company’s stock after selling 10,071 shares during the period. Perpetual Ltd’s holdings in Arista Networks were worth $2,723,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. AdvisorNet Financial Inc raised its holdings in shares of 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 acquiring an additional 72 shares during the period. Bare Financial Services Inc lifted its holdings in Arista Networks by 2,118.2% during the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after purchasing an additional 233 shares during the last quarter. REAP Financial Group LLC boosted its position in Arista Networks by 108.0% during the second quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock worth $34,000 after purchasing an additional 175 shares during the period. Nova Wealth Management Inc. grew its stake in Arista Networks by 215.7% in the 3rd quarter. Nova Wealth Management Inc. now owns 341 shares of the technology company’s stock valued at $50,000 after buying an additional 233 shares during the last quarter. Finally, Solstein Capital LLC grew its holdings in Arista Networks by 493.8% in the 2nd quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock valued at $39,000 after buying an additional 316 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ANET has been the topic of a number of analyst reports. The Goldman Sachs Group increased their target price on shares of Arista Networks from $155.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Zacks Research lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. William Blair reiterated an “outperform” rating on shares of Arista Networks in a report on Friday, September 12th. Wolfe Research raised their price objective on Arista Networks from $160.00 to $185.00 and gave the company an “outperform” rating in a report on Friday, September 12th. Finally, BNP Paribas upgraded Arista Networks from a “hold” rating to an “outperform” rating in a research report on Thursday, September 25th. Seventeen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $163.56.

Arista Networks Stock Performance

ANET stock opened at $131.29 on Friday. The company has a market capitalization of $165.33 billion, a P/E ratio of 49.92, a PEG ratio of 2.51 and a beta of 1.41. The company has a fifty day moving average price of $136.26 and a 200-day moving average price of $127.94. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $164.94.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.26 billion. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.Arista Networks’s quarterly revenue was up 27.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.40 earnings per share. As a group, sell-side analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arista Networks news, CEO Jayshree Ullal sold 24,042 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total transaction 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 represents a 70.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kelly Bodnar Battles sold 422 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $117.15, for a total transaction of $49,437.30. Following the completion of the transaction, the director owned 8,980 shares in the company, valued at $1,052,007. This trade represents a 4.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 216,464 shares of company stock worth $28,598,588. Corporate insiders own 3.39% of the company’s stock.

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.