Crossmark Global Holdings Inc. Sells 9,402 Shares of Arista Networks, Inc. $ANET

Crossmark Global Holdings Inc. decreased its holdings in Arista Networks, Inc. (NYSE:ANET) by 4.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 196,838 shares of the technology company’s stock after selling 9,402 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Arista Networks were worth $28,681,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ANET. Orion Porfolio Solutions LLC boosted its position in shares of Arista Networks by 13.5% during the third quarter. Orion Porfolio Solutions LLC now owns 45,322 shares of the technology company’s stock valued at $6,604,000 after buying an additional 5,393 shares during the last quarter. Leeward Financial Partners LLC raised its position in Arista Networks by 6.8% in the 3rd quarter. Leeward Financial Partners LLC now owns 4,155 shares of the technology company’s stock valued at $605,000 after buying an additional 266 shares during the last quarter. KCM Investment Advisors LLC bought a new position in Arista Networks during the 3rd quarter valued at $237,000. Kane Investment Management Inc. boosted its holdings in Arista Networks by 4.0% during the 3rd quarter. Kane Investment Management Inc. now owns 3,535 shares of the technology company’s stock worth $515,000 after acquiring an additional 135 shares during the last quarter. Finally, Talos Eurisko Asset Management LP grew its stake in shares of Arista Networks by 40.4% in the 3rd quarter. Talos Eurisko Asset Management LP now owns 583,600 shares of the technology company’s stock worth $85,036,000 after acquiring an additional 168,000 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Insider Buying and Selling at Arista Networks

In related news, Director Kelly Bodnar Battles sold 422 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $128.06, for a total transaction of $54,041.32. Following the sale, the director directly owned 9,529 shares in the company, valued at approximately $1,220,283.74. The trade was a 4.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Yvonne Wassenaar sold 1,815 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $132.44, for a total value of $240,378.60. Following the completion of the transaction, the director owned 12,574 shares of the company’s stock, valued at approximately $1,665,300.56. This represents a 12.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 196,237 shares of company stock worth $25,865,760. 3.39% of the stock is owned by insiders.

Arista Networks Stock Performance

Shares of Arista Networks stock opened at $134.95 on Thursday. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $164.94. The stock’s 50-day simple moving average is $134.26 and its 200 day simple moving average is $137.17. The stock has a market capitalization of $169.57 billion, a P/E ratio of 48.89, a P/E/G ratio of 2.21 and a beta of 1.46.

Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, February 12th. The technology company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.07. The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.38 billion. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The company’s revenue was up 28.9% on a year-over-year basis. During the same quarter last year, the company earned $0.66 earnings per share. Equities research analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ANET shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Arista Networks in a research report on Monday, December 29th. Erste Group Bank downgraded Arista Networks from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. Rosenblatt Securities increased their price target on Arista Networks from $140.00 to $165.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price target on shares of Arista Networks in a report on Friday, February 13th. Finally, Wells Fargo & Company upped their price objective on Arista Networks from $175.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. Seventeen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $176.88.

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.