Arista Networks, Inc. (NYSE:ANET) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. decreased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 292,811 shares of the technology company’s stock after selling 6,214 shares during the period. Federated Hermes Inc.’s holdings in Arista Networks were worth $68,960,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ANET. Larson Financial Group LLC purchased a new stake in Arista Networks during the 3rd quarter worth about $28,000. First Command Advisory Services Inc. purchased a new position in Arista Networks in the third quarter worth approximately $29,000. Hollencrest Capital Management acquired a new position in Arista Networks during the 1st quarter worth approximately $30,000. BluePath Capital Management LLC purchased a new stake in shares of Arista Networks in the 3rd quarter valued at approximately $33,000. Finally, NBC Securities Inc. purchased a new stake in shares of Arista Networks during the 3rd quarter worth $33,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of analyst reports. Melius Research upgraded Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research note on Monday, January 8th. Rosenblatt Securities reaffirmed a “sell” rating and issued a $210.00 price target on shares of Arista Networks in a report on Friday, April 12th. Wells Fargo & Company raised their price objective on shares of Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. The Goldman Sachs Group upped their target price on shares of Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, Oppenheimer reissued a “market perform” rating on shares of Arista Networks in a research report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and a consensus price target of $275.59.

Insider Activity at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $286.52, for a total transaction of $573,040.00. Following the transaction, the director now owns 60,946 shares in the company, valued at $17,462,247.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Arista Networks news, CEO Jayshree Ullal sold 8,002 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $267.39, for a total value of $2,139,654.78. Following the transaction, the chief executive officer now owns 74,764 shares in the company, valued at approximately $19,991,145.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $286.52, for a total value of $573,040.00. Following the sale, the director now owns 60,946 shares of the company’s stock, valued at $17,462,247.92. The disclosure for this sale can be found here. In the last three months, insiders sold 342,229 shares of company stock worth $97,968,530. Corporate insiders own 18.99% of the company’s stock.

Arista Networks Stock Down 0.8 %

NYSE ANET opened at $257.30 on Friday. The stock has a market capitalization of $80.44 billion, a P/E ratio of 39.16, a P/E/G ratio of 2.21 and a beta of 1.09. Arista Networks, Inc. has a 52-week low of $131.68 and a 52-week high of $307.74. The firm has a 50-day moving average price of $281.02 and a 200 day moving average price of $244.15.

Arista Networks (NYSE:ANET) last issued its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the business posted $1.25 EPS. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. On average, equities research analysts expect that Arista Networks, Inc. will post 6.7 earnings per share for the current fiscal year.

About Arista Networks

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.