Schroder Investment Management Group Sells 1,908,208 Shares of Arista Networks, Inc. $ANET

Schroder Investment Management Group trimmed its position in shares of Arista Networks, Inc. (NYSE:ANET) by 18.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,585,916 shares of the technology company’s stock after selling 1,908,208 shares during the period. Arista Networks makes up approximately 1.0% of Schroder Investment Management Group’s holdings, making the stock its 17th biggest holding. Schroder Investment Management Group owned approximately 0.68% of Arista Networks worth $1,251,054,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ANET. Bare Financial Services Inc raised its stake in Arista Networks by 2,118.2% during the second 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 grew its stake in shares of Arista Networks by 56.7% in the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after buying an additional 72 shares in the last quarter. Richardson Financial Services Inc. increased its holdings in shares of Arista Networks by 141.3% in the 3rd quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock worth $32,000 after buying an additional 130 shares during the last quarter. SJS Investment Consulting Inc. increased its holdings in shares of Arista Networks by 979.2% in the 3rd quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock worth $38,000 after buying an additional 235 shares during the last quarter. Finally, Guerra Advisors Inc purchased a new stake in shares of Arista Networks during the 3rd quarter valued at about $41,000. 82.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ANET. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price target on shares of Arista Networks in a report on Friday, February 13th. Evercore reissued an “outperform” rating and set a $200.00 price objective on shares of Arista Networks in a research note on Friday, February 13th. Wells Fargo & Company raised their price objective on Arista Networks from $175.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. The Goldman Sachs Group reiterated a “buy” rating and issued a $188.00 target price (up from $165.00) on shares of Arista Networks in a report on Friday, February 13th. Finally, Piper Sandler reissued an “overweight” rating and set a $175.00 target price (up from $159.00) on shares of Arista Networks in a research report on Friday, February 13th. Seventeen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $176.88.

Insiders Place Their Bets

In other news, Director Kelly Bodnar Battles sold 422 shares of the company’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $128.06, for a total value of $54,041.32. Following the transaction, the director directly owned 9,529 shares in the company, valued at approximately $1,220,283.74. This represents a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Yvonne Wassenaar sold 1,815 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $132.44, for a total transaction of $240,378.60. Following the completion of the transaction, the director directly owned 12,574 shares in the company, valued at $1,665,300.56. This represents a 12.61% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 196,237 shares of company stock worth $25,865,760. 3.54% of the stock is currently owned by company insiders.

Arista Networks Price Performance

Shares of NYSE ANET opened at $133.15 on Monday. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $164.94. The firm has a 50-day simple moving average of $134.45 and a two-hundred day simple moving average of $137.23. The company has a market cap of $167.31 billion, a P/E ratio of 48.24, a PEG ratio of 2.36 and a beta of 1.46.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, February 12th. The technology company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.07. Arista Networks had a return on equity of 30.37% and a net margin of 38.99%.The firm had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the prior year, the business posted $0.66 earnings per share. The company’s revenue for the quarter was up 28.9% on a year-over-year basis. As a group, equities research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

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.