Arista Networks, Inc. $ANET Stock Holdings Trimmed by Cresset Asset Management LLC

Cresset Asset Management LLC cut its holdings in Arista Networks, Inc. (NYSE:ANET) by 17.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,806,490 shares of the technology company’s stock after selling 4,567,883 shares during the quarter. Arista Networks comprises 12.0% of Cresset Asset Management LLC’s holdings, making the stock its largest position. Cresset Asset Management LLC’s holdings in Arista Networks were worth $3,177,424,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in Arista Networks by 321.7% in the 4th quarter. Brighton Jones LLC now owns 7,806 shares of the technology company’s stock worth $863,000 after purchasing an additional 5,955 shares in the last quarter. Revolve Wealth Partners LLC purchased a new position in shares of Arista Networks in the fourth quarter worth $202,000. Bison Wealth LLC acquired a new stake in shares of Arista Networks during the fourth quarter worth $251,000. Sivia Capital Partners LLC lifted its stake in shares of Arista Networks by 48.4% during the second quarter. Sivia Capital Partners LLC now owns 10,723 shares of the technology company’s stock worth $1,097,000 after buying an additional 3,496 shares during the period. Finally, Mission Wealth Management LP grew its holdings in shares of Arista Networks by 6.7% during the second quarter. Mission Wealth Management LP now owns 7,225 shares of the technology company’s stock valued at $739,000 after buying an additional 455 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ANET. Rosenblatt Securities raised their target price on Arista Networks from $140.00 to $165.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 10th. Piper Sandler restated an “overweight” rating and issued a $175.00 price objective (up from $159.00) on shares of Arista Networks in a research note on Friday, February 13th. Barclays reiterated an “overweight” rating and issued a $184.00 target price (up from $183.00) on shares of Arista Networks in a research report on Friday, February 13th. Erste Group Bank lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. Finally, Needham & Company LLC upped their price objective on shares of Arista Networks from $165.00 to $185.00 and gave the company a “buy” rating in a report on Friday, February 13th. Seventeen equities 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, Arista Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $176.88.

Arista Networks Stock Performance

Shares of NYSE ANET opened at $124.55 on Wednesday. The company has a market capitalization of $156.50 billion, a PE ratio of 45.13, a price-to-earnings-growth ratio of 2.29 and a beta of 1.46. The company’s fifty day moving average price is $134.19 and its 200 day moving average price is $137.19. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $164.94.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, February 12th. The technology company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.07. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The business had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the prior year, the firm posted $0.66 earnings per share. The company’s revenue was up 28.9% compared to the same quarter last year. On average, equities analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insiders Place Their Bets

In other Arista Networks news, Director Kelly Bodnar Battles sold 422 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $128.06, for a total value of $54,041.32. Following the sale, the director directly owned 9,529 shares of the company’s stock, valued at approximately $1,220,283.74. This trade represents a 4.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Yvonne Wassenaar sold 1,815 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $132.44, for a total value of $240,378.60. Following the completion of the sale, the director owned 12,574 shares of the company’s stock, valued at $1,665,300.56. This trade represents a 12.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 188,237 shares of company stock worth $24,836,400. Company insiders own 3.54% of the company’s stock.

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.