Arista Networks, Inc. $ANET Shares Sold by Robbins Farley

Robbins Farley decreased its position in Arista Networks, Inc. (NYSE:ANET) by 13.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 40,586 shares of the technology company’s stock after selling 6,049 shares during the period. Arista Networks makes up about 2.5% of Robbins Farley’s investment portfolio, making the stock its 14th largest position. Robbins Farley’s holdings in Arista Networks were worth $5,914,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of ANET. Bare Financial Services Inc boosted its position 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 valued at $25,000 after purchasing an additional 233 shares in the last quarter. AdvisorNet Financial Inc lifted its stake in Arista Networks by 56.7% during the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after purchasing an additional 72 shares during the last quarter. Saudi Central Bank bought a new stake in Arista Networks during the first quarter worth approximately $33,000. REAP Financial Group LLC grew its position in Arista Networks by 108.0% in the second quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock worth $34,000 after buying an additional 175 shares during the last quarter. Finally, eCIO Inc. bought a new position in shares of Arista Networks in the first quarter valued at $36,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ANET shares. JPMorgan Chase & Co. lifted their target price on Arista Networks from $150.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Evercore ISI boosted their price objective on Arista Networks from $150.00 to $175.00 and gave the stock an “outperform” rating in a report on Friday, September 12th. Erste Group Bank cut shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Monday, November 10th. Citigroup boosted their price target on shares of Arista Networks from $136.00 to $176.00 and gave the company a “buy” rating in a report on Friday, September 12th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $145.00 price objective (up previously from $143.00) on shares of Arista Networks in a research note on Wednesday, November 5th. Seventeen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $163.56.

Insiders Place Their Bets

In other Arista Networks news, insider Kenneth Duda sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $142.75, for a total value of $4,282,500.00. Following the completion of the sale, the insider directly owned 12,976 shares of the company’s stock, valued at $1,852,324. The trade was a 69.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jayshree Ullal sold 24,042 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer owned 9,917 shares in the company, valued at $1,235,162.35. This represents a 70.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 216,464 shares of company stock valued at $28,598,588 in the last three months. Insiders own 3.39% of the company’s stock.

Arista Networks Price Performance

NYSE ANET opened at $131.13 on Thursday. The firm has a market capitalization of $165.12 billion, a price-to-earnings ratio of 49.86, a price-to-earnings-growth ratio of 2.51 and a beta of 1.41. The company has a 50 day simple moving average of $135.53 and a 200-day simple moving average of $128.68. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $164.94.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.03. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.26 billion. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.40 EPS. On average, analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

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.