Candriam S.C.A. Sells 7,756 Shares of Arista Networks, Inc. $ANET

Candriam S.C.A. lowered its stake in Arista Networks, Inc. (NYSE:ANET) by 6.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 113,815 shares of the technology company’s stock after selling 7,756 shares during the quarter. Candriam S.C.A.’s holdings in Arista Networks were worth $16,584,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of ANET. Global Trust Asset Management LLC raised its holdings in Arista Networks by 33.0% during the 3rd quarter. Global Trust Asset Management LLC now owns 19,273 shares of the technology company’s stock valued at $2,808,000 after buying an additional 4,780 shares during the period. Rakuten Investment Management Inc. bought a new position in Arista Networks during the third quarter valued at $8,263,000. National Wealth Management Group LLC purchased a new stake in shares of Arista Networks in the third quarter valued at $1,296,000. Vanguard Group Inc. lifted its holdings in shares of 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 acquiring an additional 1,136,167 shares during the last quarter. Finally, Holocene Advisors LP purchased a new position in shares of Arista Networks during the 2nd quarter worth about $247,451,000. 82.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $140.43, for a total value of $1,123,440.00. Following the transaction, the director owned 9,784 shares in the company, valued at $1,373,967.12. The trade was a 44.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jayshree Ullal sold 24,042 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total transaction of $2,994,431.10. Following the completion of the sale, the chief executive officer owned 9,917 shares in the company, valued at $1,235,162.35. This represents a 70.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 216,464 shares of company stock worth $27,553,548 in the last three months. 3.54% of the stock is owned by company insiders.

Arista Networks Stock Performance

NYSE ANET opened at $141.79 on Tuesday. The company has a market cap of $178.55 billion, a PE ratio of 53.91, a P/E/G ratio of 2.32 and a beta of 1.42. The firm’s 50 day moving average price is $132.06 and its 200-day moving average price is $136.47. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $164.94.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ANET shares. UBS Group reissued a “buy” rating and issued a $155.00 price objective on shares of Arista Networks in a research report on Wednesday, December 3rd. Morgan Stanley reduced their price target on Arista Networks from $171.00 to $159.00 and set an “overweight” rating on the stock in a report on Wednesday, December 17th. Rosenblatt Securities restated a “neutral” rating and set a $140.00 price objective on shares of Arista Networks in a report on Monday, November 24th. Erste Group Bank downgraded Arista Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Arista Networks in a research note on Monday, December 29th. Seventeen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.