Gateway Investment Advisers LLC Sells 4,742 Shares of Arista Networks, Inc. $ANET

Gateway Investment Advisers LLC cut its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 32.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,962 shares of the technology company’s stock after selling 4,742 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Arista Networks were worth $1,452,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AdvisorNet Financial Inc lifted its stake in shares of Arista Networks by 56.7% in the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after acquiring an additional 72 shares during the period. Fragasso Financial Advisors Inc raised its holdings in Arista Networks by 1.8% during the 3rd 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 during the last quarter. Stablepoint Partners LLC lifted its position in shares of Arista Networks by 0.8% in the 2nd quarter. Stablepoint Partners LLC now owns 9,406 shares of the technology company’s stock worth $962,000 after purchasing an additional 77 shares during the period. Pure Financial Advisors LLC boosted its stake in shares of Arista Networks by 1.9% in the 3rd quarter. Pure Financial Advisors LLC now owns 4,333 shares of the technology company’s stock valued at $631,000 after purchasing an additional 82 shares during the last quarter. Finally, Glenview Trust co increased its position in shares of Arista Networks by 2.5% during the second quarter. Glenview Trust co now owns 3,502 shares of the technology company’s stock worth $358,000 after buying an additional 84 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, 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 value of $2,994,431.10. Following the transaction, the chief executive officer directly owned 9,917 shares of the company’s stock, valued at approximately $1,235,162.35. This trade represents a 70.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kelly Bodnar Battles sold 422 shares of Arista Networks stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $117.15, for a total transaction of $49,437.30. Following the transaction, the director owned 8,980 shares of the company’s stock, valued at $1,052,007. This represents a 4.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 208,464 shares of company stock worth $27,418,668. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

Shares of NYSE:ANET opened at $137.19 on Tuesday. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $164.94. The business’s 50 day simple moving average is $132.94 and its two-hundred day simple moving average is $131.17. The firm has a market cap of $172.76 billion, a P/E ratio of 52.16, a PEG ratio of 2.25 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 for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period in the prior year, the firm earned $2.40 earnings per share. Arista Networks’s revenue for the quarter was up 27.5% on a year-over-year basis. On average, equities analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ANET shares. Weiss Ratings restated a “hold (c+)” rating on shares of Arista Networks in a report on Monday, December 29th. Erste Group Bank downgraded Arista Networks from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. The Goldman Sachs Group raised their target price on Arista Networks from $155.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Citigroup boosted their price target on Arista Networks from $136.00 to $176.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Finally, Melius Research increased their price target on Arista Networks from $160.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Eighteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and a consensus price target of $164.44.

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.