Nepsis Inc. Sells 46,009 Shares of Arista Networks, Inc. $ANET

Nepsis Inc. reduced its position in shares of Arista Networks, Inc. (NYSE:ANET) by 36.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 78,853 shares of the technology company’s stock after selling 46,009 shares during the quarter. Arista Networks comprises 3.6% of Nepsis Inc.’s holdings, making the stock its 15th biggest position. Nepsis Inc.’s holdings in Arista Networks were worth $11,490,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ANET. AdvisorNet Financial Inc lifted 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 buying an additional 72 shares during the period. Crown Wealth Group LLC lifted its stake in shares of Arista Networks by 2.4% in the 3rd quarter. Crown Wealth Group LLC now owns 3,175 shares of the technology company’s stock valued at $463,000 after purchasing an additional 75 shares during the period. Fragasso Financial Advisors Inc lifted its stake in shares of Arista Networks by 1.8% in the 3rd quarter. Fragasso Financial Advisors Inc now owns 4,237 shares of the technology company’s stock valued at $616,000 after purchasing an additional 76 shares during the period. Stablepoint Partners LLC boosted 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 last quarter. Finally, Pure Financial Advisors LLC grew its stake in shares of Arista Networks by 1.9% during the third quarter. Pure Financial Advisors LLC now owns 4,333 shares of the technology company’s stock worth $631,000 after purchasing an additional 82 shares during the period. Institutional investors own 82.47% of the company’s stock.

Analysts Set New Price Targets

ANET has been the topic of a number of recent analyst reports. Barclays restated an “overweight” rating and set a $183.00 target price (up previously from $179.00) on shares of Arista Networks in a report on Wednesday, November 5th. Piper Sandler raised shares of Arista Networks from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $145.00 to $159.00 in a research note on Monday, January 5th. Melius Research upped their target price on shares of Arista Networks from $160.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, September 12th. BNP Paribas raised shares of Arista Networks from a “hold” rating to an “outperform” rating in a research report on Thursday, September 25th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Arista Networks from $150.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $164.44.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $133.79, for a total value of $1,070,320.00. Following the sale, the director owned 17,784 shares in the company, valued at approximately $2,379,321.36. The trade was a 31.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jayshree Ullal sold 24,042 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was 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 position. The SEC filing for this sale provides additional information. Insiders sold 216,464 shares of company stock valued at $28,488,988 over the last three months. Company insiders own 3.39% of the company’s stock.

Arista Networks Stock Down 0.5%

Arista Networks stock opened at $123.05 on Friday. The company has a 50 day moving average of $130.43 and a 200-day moving average of $131.65. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94. The stock has a market capitalization of $154.95 billion, a PE ratio of 46.79, a price-to-earnings-growth ratio of 2.08 and a beta of 1.41.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.72 by $0.03. The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.26 billion. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The firm’s revenue was up 27.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.40 EPS. Equities analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

About Arista Networks

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.