Generate Investment Management Ltd Trims Stock Holdings in Arista Networks, Inc. $ANET

Generate Investment Management Ltd cut its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 60.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,119 shares of the technology company’s stock after selling 56,652 shares during the period. Generate Investment Management Ltd’s holdings in Arista Networks were worth $5,409,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ANET. AdvisorNet Financial Inc increased its holdings in Arista Networks by 56.7% in the 3rd 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. Bare Financial Services Inc boosted its position in shares of Arista Networks by 2,118.2% during the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after buying an additional 233 shares during the period. REAP Financial Group LLC grew its stake in shares of Arista Networks by 108.0% in the second quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock valued at $34,000 after buying an additional 175 shares in the last quarter. Nova Wealth Management Inc. lifted its stake in Arista Networks by 215.7% during the 3rd quarter. Nova Wealth Management Inc. now owns 341 shares of the technology company’s stock worth $50,000 after acquiring an additional 233 shares in the last quarter. Finally, Solstein Capital LLC lifted its stake in Arista Networks by 493.8% during the 2nd quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock worth $39,000 after acquiring an additional 316 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Arista Networks

In related news, Director Kelly Bodnar Battles sold 422 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $117.15, for a total value of $49,437.30. Following the completion of the sale, the director directly owned 8,980 shares of the company’s stock, valued at $1,052,007. This represents a 4.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jayshree Ullal sold 24,042 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total value 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 208,464 shares of company stock worth $27,418,668 over the last three months. 3.54% of the stock is currently owned by company insiders.

Arista Networks Stock Down 1.3%

Shares of Arista Networks stock opened at $132.42 on Wednesday. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $164.94. The firm’s 50 day moving average is $134.49 and its two-hundred day moving average is $129.99. The firm has a market capitalization of $166.75 billion, a P/E ratio of 50.35, a P/E/G ratio of 2.57 and a beta of 1.41.

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

Analyst Upgrades and Downgrades

ANET has been the topic of several research reports. Melius Research increased their price target on shares of Arista Networks from $160.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. 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 report on Friday, September 12th. JPMorgan Chase & Co. boosted their price target on shares of Arista Networks from $150.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Morgan Stanley reduced their price objective on Arista Networks from $171.00 to $159.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 17th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Arista Networks in a report on Monday. Seventeen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.56.

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.