Twin Capital Management Inc. Sells 17,621 Shares of Arista Networks, Inc. $ANET

Twin Capital Management Inc. trimmed its position in shares of Arista Networks, Inc. (NYSE:ANET) by 40.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,513 shares of the technology company’s stock after selling 17,621 shares during the quarter. Twin Capital Management Inc.’s holdings in Arista Networks were worth $3,717,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ANET. Bare Financial Services Inc boosted its stake in Arista Networks by 2,118.2% in the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after acquiring an additional 233 shares in the last quarter. AdvisorNet Financial Inc increased its position in shares of Arista Networks by 56.7% during the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after purchasing an additional 72 shares in the last quarter. Richardson Financial Services Inc. increased its position in shares of Arista Networks by 141.3% during the third quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock worth $32,000 after purchasing an additional 130 shares in the last quarter. SJS Investment Consulting Inc. lifted its holdings in shares of Arista Networks by 979.2% during the 3rd quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock valued at $38,000 after purchasing an additional 235 shares during the last quarter. Finally, Solstein Capital LLC boosted its position in shares of Arista Networks by 493.8% in the 2nd quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock worth $39,000 after purchasing an additional 316 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Performance

ANET opened at $137.50 on Friday. The company has a fifty day moving average of $131.78 and a two-hundred day moving average of $135.93. The stock has a market capitalization of $173.15 billion, a price-to-earnings ratio of 52.28, a PEG ratio of 2.17 and a beta of 1.42. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $164.94.

Arista Networks (NYSE:ANET) last posted its earnings results 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. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The business 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 company posted $2.40 EPS. The company’s revenue for the quarter was up 27.5% on a year-over-year basis. On average, equities research analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. 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. Piper Sandler raised Arista Networks from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $145.00 to $159.00 in a report on Monday, January 5th. Erste Group Bank downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Monday, November 10th. Barclays reaffirmed an “overweight” rating and issued a $183.00 price objective (up from $179.00) on shares of Arista Networks in a research report on Wednesday, November 5th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $140.00 target price on shares of Arista Networks in a research report on Monday, November 24th. Seventeen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $164.44.

Insider Buying and Selling

In other Arista Networks news, insider Kenneth Duda sold 30,000 shares of the stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $123.16, for a total transaction of $3,694,800.00. Following the transaction, the insider owned 12,976 shares in the company, valued at approximately $1,598,124.16. This represents a 69.81% decrease in their ownership of the stock. 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 firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 9,917 shares in the company, valued at approximately $1,235,162.35. The trade was a 70.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 216,464 shares of company stock valued at $27,553,548. 3.39% of the stock is owned by company insiders.

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.