Yousif Capital Management LLC Decreases Stock Holdings in Arista Networks, Inc. $ANET

Yousif Capital Management LLC reduced its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 6.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 120,677 shares of the technology company’s stock after selling 8,160 shares during the quarter. Yousif Capital Management LLC’s holdings in Arista Networks were worth $17,584,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Arista Networks during the 2nd quarter worth $1,228,177,000. AQR Capital Management LLC grew its position in Arista Networks by 153.8% during the first quarter. AQR Capital Management LLC now owns 7,719,809 shares of the technology company’s stock valued at $584,119,000 after buying an additional 4,678,372 shares during the period. Nordea Investment Management AB increased its holdings in Arista Networks by 193.3% during the second quarter. Nordea Investment Management AB now owns 7,065,054 shares of the technology company’s stock worth $721,342,000 after buying an additional 4,656,021 shares during the last quarter. Holocene Advisors LP bought a new stake in Arista Networks in the second quarter worth about $247,451,000. Finally, Amundi boosted its stake in Arista Networks by 35.3% in the first quarter. Amundi now owns 8,582,109 shares of the technology company’s stock valued at $611,852,000 after acquiring an additional 2,240,045 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ANET. Piper Sandler restated a “neutral” rating and set a $145.00 price target (up previously from $143.00) on shares of Arista Networks in a research note on Wednesday, November 5th. JPMorgan Chase & Co. increased their price objective on Arista Networks from $150.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, September 12th. UBS Group restated a “buy” rating and issued a $155.00 target price on shares of Arista Networks in a research note on Wednesday, December 3rd. Melius Research upped their price target on Arista Networks from $160.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Finally, The Goldman Sachs Group lifted their price objective on Arista Networks from $155.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Seventeen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $163.56.

Arista Networks Stock Performance

Shares of ANET opened at $130.50 on Tuesday. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $164.94. The stock’s 50-day simple moving average is $135.92 and its 200 day simple moving average is $128.43. The stock has a market capitalization of $164.33 billion, a price-to-earnings ratio of 49.62, a price-to-earnings-growth ratio of 2.51 and a beta of 1.41.

Arista Networks (NYSE:ANET) last posted its earnings results 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. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the firm earned $2.40 EPS. The company’s quarterly revenue was up 27.5% compared to the same quarter last year. On average, research analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Activity

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 value of $2,994,431.10. Following the sale, the chief executive officer directly owned 9,917 shares in the company, valued at $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 is available through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $128.09, for a total transaction of $1,024,720.00. Following the completion of the transaction, the director directly owned 25,784 shares of the company’s stock, valued at approximately $3,302,672.56. The trade was a 23.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 216,464 shares of company stock worth $28,598,588. Insiders own 3.54% of the company’s stock.

About Arista Networks

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.