Arista Networks, Inc. $ANET Shares Sold by Roberts Glore & Co. Inc. IL

Roberts Glore & Co. Inc. IL reduced its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 26.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 22,154 shares of the technology company’s stock after selling 7,878 shares during the period. Arista Networks makes up 0.9% of Roberts Glore & Co. Inc. IL’s holdings, making the stock its 25th biggest holding. Roberts Glore & Co. Inc. IL’s holdings in Arista Networks were worth $3,228,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Arista Networks by 1.0% in the third quarter. Vanguard Group Inc. now owns 100,000,830 shares of the technology company’s stock valued at $14,571,121,000 after acquiring an additional 1,007,730 shares in the last quarter. Cresset Asset Management LLC grew its holdings in Arista Networks by 1.0% during the 2nd quarter. Cresset Asset Management LLC now owns 26,374,373 shares of the technology company’s stock valued at $2,698,362,000 after purchasing an additional 263,272 shares in the last quarter. Geode Capital Management LLC grew its holdings in Arista Networks by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 25,576,483 shares of the technology company’s stock valued at $2,606,694,000 after purchasing an additional 128,977 shares in the last quarter. Norges Bank purchased a new stake in Arista Networks during the 2nd quarter worth $1,228,177,000. Finally, Schroder Investment Management Group lifted its holdings in Arista Networks by 14.8% in the 2nd quarter. Schroder Investment Management Group now owns 10,494,124 shares of the technology company’s stock worth $1,073,654,000 after buying an additional 1,350,593 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Arista Networks news, Director Kelly Bodnar Battles sold 422 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $128.06, for a total value of $54,041.32. Following the transaction, the director owned 9,529 shares of the company’s stock, valued at $1,220,283.74. This trade represents a 4.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kenneth Duda sold 32,000 shares of Arista Networks stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $142.44, for a total value of $4,558,080.00. Following the completion of the transaction, the insider owned 12,976 shares of the company’s stock, valued at approximately $1,848,301.44. The trade was a 71.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 194,422 shares of company stock valued at $25,620,741. Company insiders own 3.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ANET shares. Evercore restated an “outperform” rating and set a $200.00 target price on shares of Arista Networks in a research note on Friday, February 13th. The Goldman Sachs Group reissued a “buy” rating and issued a $188.00 price target (up from $165.00) on shares of Arista Networks in a report on Friday, February 13th. Wells Fargo & Company lifted their price objective on Arista Networks from $175.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. KeyCorp reiterated an “overweight” rating and set a $178.00 target price (up from $170.00) on shares of Arista Networks in a research note on Friday, February 13th. Finally, Piper Sandler restated an “overweight” rating and issued a $175.00 price target (up from $159.00) on shares of Arista Networks in a research note on Friday, February 13th. Seventeen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and an average target price of $176.88.

Arista Networks Trading Up 3.2%

Shares of NYSE ANET opened at $132.90 on Thursday. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94. The company has a market capitalization of $167.00 billion, a price-to-earnings ratio of 48.15, a price-to-earnings-growth ratio of 2.28 and a beta of 1.42. The business has a 50 day simple moving average of $134.19 and a 200-day simple moving average of $137.44.

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

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.