Greenleaf Trust Cuts Stake in Arista Networks, Inc. $ANET

Greenleaf Trust trimmed its stake in Arista Networks, Inc. (NYSE:ANET) by 46.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,930 shares of the technology company’s stock after selling 23,032 shares during the quarter. Greenleaf Trust’s holdings in Arista Networks were worth $3,924,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SteelPeak Wealth LLC increased its position in Arista Networks by 23.8% during the 2nd quarter. SteelPeak Wealth LLC now owns 40,404 shares of the technology company’s stock worth $4,134,000 after purchasing an additional 7,779 shares in the last quarter. Penobscot Investment Management Company Inc. grew its stake in Arista Networks by 7.8% during the second quarter. Penobscot Investment Management Company Inc. now owns 39,073 shares of the technology company’s stock worth $3,998,000 after buying an additional 2,815 shares during the period. Vanguard Group Inc. increased its position in shares of Arista Networks by 1.2% in the second quarter. Vanguard Group Inc. now owns 98,993,100 shares of the technology company’s stock worth $10,127,984,000 after acquiring an additional 1,136,167 shares in the last quarter. Holocene Advisors LP purchased a new position in shares of Arista Networks in the 2nd quarter valued at $247,451,000. Finally, Soltis Investment Advisors LLC lifted its holdings in shares of Arista Networks by 99.3% during the 2nd quarter. Soltis Investment Advisors LLC now owns 40,428 shares of the technology company’s stock valued at $4,136,000 after acquiring an additional 20,141 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Performance

Shares of ANET opened at $137.19 on Tuesday. The company has a market capitalization of $172.76 billion, a P/E ratio of 52.16, a P/E/G ratio of 2.25 and a beta of 1.41. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $164.94. The stock has a 50-day moving average price of $132.94 and a 200 day moving average price of $131.17.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, topping 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%.Arista Networks’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.40 EPS. As a group, equities research analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Activity at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $128.09, for a total value of $1,024,720.00. Following the sale, the director owned 25,784 shares in the company, valued at approximately $3,302,672.56. This represents a 23.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 in the company, valued at $1,235,162.35. The trade was a 70.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 208,464 shares of company stock valued at $27,418,668. Insiders own 3.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Arista Networks in a report on Monday, December 29th. Zacks Research lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. William Blair reiterated an “outperform” rating on shares of Arista Networks in a report on Friday, September 12th. Wolfe Research boosted their price target on Arista Networks from $160.00 to $185.00 and gave the stock an “outperform” rating in a research report on Friday, September 12th. Finally, BNP Paribas raised shares of Arista Networks from a “hold” rating to an “outperform” rating in a research report on Thursday, September 25th. Eighteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and an average target price 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.