Arista Networks, Inc. $ANET Shares Sold by OFI Invest Asset Management

OFI Invest Asset Management trimmed its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 54.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 225,126 shares of the technology company’s stock after selling 267,890 shares during the period. OFI Invest Asset Management’s holdings in Arista Networks were worth $32,803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in ANET. AdvisorNet Financial Inc boosted its holdings in Arista Networks by 56.7% in 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 in the last quarter. Fragasso Financial Advisors Inc raised its holdings in Arista Networks by 1.8% during the third quarter. Fragasso Financial Advisors Inc now owns 4,237 shares of the technology company’s stock worth $616,000 after purchasing an additional 76 shares in the last quarter. Stablepoint Partners LLC lifted its position in shares of Arista Networks by 0.8% during the 2nd quarter. Stablepoint Partners LLC now owns 9,406 shares of the technology company’s stock worth $962,000 after buying an additional 77 shares during the last quarter. Glenview Trust co boosted its holdings in shares of Arista Networks by 2.5% in the 2nd quarter. Glenview Trust co now owns 3,502 shares of the technology company’s stock valued at $358,000 after buying an additional 84 shares in the last quarter. Finally, Telos Capital Management Inc. grew its position in shares of Arista Networks by 1.0% in the 2nd quarter. Telos Capital Management Inc. now owns 9,260 shares of the technology company’s stock valued at $947,000 after buying an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

ANET has been the subject of a number of research reports. Piper Sandler reissued a “neutral” rating and issued a $145.00 price target (up from $143.00) on shares of Arista Networks in a research report on Wednesday, November 5th. BNP Paribas raised Arista Networks from a “hold” rating to an “outperform” rating in a report on Thursday, September 25th. William Blair reissued an “outperform” rating on shares of Arista Networks in a research report on Friday, September 12th. Melius Research lifted their price target on Arista Networks from $160.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Finally, Wells Fargo & Company boosted their price objective on Arista Networks from $150.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, September 12th. Seventeen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $163.56.

Insider Buying and Selling at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction dated 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 transaction, the director directly owned 25,784 shares in the company, valued at $3,302,672.56. The trade was a 23.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jayshree Ullal sold 24,042 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total transaction of $2,994,431.10. Following the transaction, the chief executive officer directly owned 9,917 shares of the company’s stock, valued at $1,235,162.35. This represents a 70.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 216,464 shares of company stock valued at $28,598,588. 3.54% of the stock is owned by company insiders.

Arista Networks Stock Down 0.5%

ANET opened at $130.50 on Tuesday. The business has a 50 day moving average price of $135.92 and a two-hundred day moving average price of $128.43. The company has a market cap of $164.33 billion, a PE ratio of 49.62, a P/E/G ratio of 2.51 and a beta of 1.41. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $164.94.

Arista Networks (NYSE:ANET) last announced its earnings results 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 company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.26 billion. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The company’s revenue was up 27.5% on a year-over-year basis. During the same period last year, the business posted $2.40 EPS. As a group, sell-side analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal 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.