Arista Networks, Inc. $ANET Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC reduced its position in Arista Networks, Inc. (NYSE:ANET) by 13.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,118 shares of the technology company’s stock after selling 27,231 shares during the period. Penserra Capital Management LLC’s holdings in Arista Networks were worth $26,387,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the company. Global Trust Asset Management LLC grew its position in Arista Networks by 33.0% in the third quarter. Global Trust Asset Management LLC now owns 19,273 shares of the technology company’s stock valued at $2,808,000 after acquiring an additional 4,780 shares in the last quarter. SteelPeak Wealth LLC boosted its stake in shares of Arista Networks by 23.8% in the second quarter. SteelPeak Wealth LLC now owns 40,404 shares of the technology company’s stock valued at $4,134,000 after purchasing an additional 7,779 shares during the period. Rakuten Investment Management Inc. acquired a new stake in Arista Networks during the 3rd quarter valued at $8,263,000. National Wealth Management Group LLC purchased a new stake in Arista Networks during the 3rd quarter worth $1,296,000. Finally, Vanguard Group Inc. lifted its holdings in Arista Networks by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 98,993,100 shares of the technology company’s stock worth $10,127,984,000 after buying an additional 1,136,167 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $133.79, for a total transaction of $1,070,320.00. Following the sale, the director owned 17,784 shares in the company, valued at $2,379,321.36. This represents a 31.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kelly Bodnar Battles sold 422 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $117.15, for a total transaction of $49,437.30. Following the completion of the transaction, the director directly owned 8,980 shares in the company, valued at $1,052,007. This represents a 4.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 208,464 shares of company stock worth $26,430,108 in the last quarter. 3.54% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ANET has been the subject of several recent analyst reports. UBS Group restated a “buy” rating and set a $155.00 target price on shares of Arista Networks in a research note on Wednesday, December 3rd. Morgan Stanley reduced their price target on Arista Networks from $171.00 to $159.00 and set an “overweight” rating for the company in a report on Wednesday, December 17th. Barclays restated an “overweight” rating and set a $183.00 price objective (up from $179.00) on shares of Arista Networks in a report on Wednesday, November 5th. Rosenblatt Securities reiterated a “neutral” rating and set a $140.00 target price on shares of Arista Networks in a research note on Monday, November 24th. Finally, Erste Group Bank downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. Seventeen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $164.44.

Arista Networks Trading Up 0.7%

ANET stock opened at $139.40 on Wednesday. The stock’s 50 day simple moving average is $131.60 and its 200 day simple moving average is $135.84. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $164.94. The firm has a market cap of $175.54 billion, a P/E ratio of 53.00, a P/E/G ratio of 2.33 and a beta of 1.42.

Arista Networks (NYSE:ANET) last released 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. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the firm earned $2.40 earnings per share. The firm’s revenue for the quarter was up 27.5% compared to the same quarter last year. On average, research analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

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.