Knights of Columbus Asset Advisors LLC Sells 25,295 Shares of Arista Networks, Inc. $ANET

Knights of Columbus Asset Advisors LLC decreased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 67.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,037 shares of the technology company’s stock after selling 25,295 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Arista Networks were worth $1,754,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ANET. AdvisorNet Financial Inc raised its position in shares of Arista Networks by 56.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after buying an additional 72 shares in the last quarter. Richardson Financial Services Inc. increased its stake in Arista Networks by 141.3% in the third quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock valued at $32,000 after acquiring an additional 130 shares during the last quarter. Bare Financial Services Inc raised its position in Arista Networks by 2,118.2% during the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after purchasing an additional 233 shares in the last quarter. SJS Investment Consulting Inc. lifted its stake in Arista Networks by 979.2% during the third quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock worth $38,000 after purchasing an additional 235 shares during the last quarter. Finally, REAP Financial Group LLC lifted its stake in Arista Networks by 108.0% during the second quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock worth $34,000 after purchasing an additional 175 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Jayshree Ullal sold 24,042 shares of Arista Networks stock in a transaction 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 sale, the chief executive officer owned 9,917 shares in the company, valued at $1,235,162.35. The trade was a 70.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kenneth Duda sold 26,000 shares of the company’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $128.43, for a total transaction of $3,339,180.00. Following the completion of the transaction, the insider owned 522,400 shares of the company’s stock, valued at $67,091,832. This trade represents a 4.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 216,464 shares of company stock worth $27,687,068. Insiders own 3.39% of the company’s stock.

Arista Networks Trading Down 4.3%

Arista Networks stock opened at $141.79 on Friday. The firm has a market cap of $178.55 billion, a P/E ratio of 53.91, a P/E/G ratio of 2.50 and a beta of 1.41. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $164.94. The firm has a 50-day moving average of $130.99 and a 200-day moving average of $135.08.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the company posted $2.40 EPS. Arista Networks’s quarterly revenue was up 27.5% compared to the same quarter last year. Research analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Piper Sandler upgraded Arista Networks from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $145.00 to $159.00 in a research report on Monday, January 5th. Zacks Research cut shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Weiss Ratings restated a “hold (c+)” rating on shares of Arista Networks in a report on Monday, December 29th. Barclays reaffirmed an “overweight” rating and issued a $183.00 price objective (up previously from $179.00) on shares of Arista Networks in a research note on Wednesday, November 5th. Finally, Erste Group Bank cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. Seventeen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.