Arista Networks, Inc. $ANET Shares Sold by M & L Capital Management Ltd

M & L Capital Management Ltd cut its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 64.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 86,000 shares of the technology company’s stock after selling 154,800 shares during the period. Arista Networks makes up approximately 2.3% of M & L Capital Management Ltd’s holdings, making the stock its 8th biggest holding. M & L Capital Management Ltd’s holdings in Arista Networks were worth $11,269,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Arista Networks by 1.0% during 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 purchasing an additional 1,007,730 shares during the period. State Street Corp boosted its stake in shares of Arista Networks by 0.5% in the third quarter. State Street Corp now owns 46,342,551 shares of the technology company’s stock valued at $6,752,573,000 after purchasing an additional 245,976 shares during the period. Cresset Asset Management LLC boosted its stake in shares of Arista Networks by 1.0% in the second 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 during the period. Norges Bank acquired a new stake in Arista Networks during the 2nd quarter valued at $1,228,177,000. Finally, Schroder Investment Management Group increased its stake in Arista Networks by 14.8% during 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 during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ANET shares. Evercore reiterated an “outperform” rating and issued a $200.00 price objective on shares of Arista Networks in a report on Friday, February 13th. Wells Fargo & Company raised their target price on Arista Networks from $175.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. TD Cowen started coverage on Arista Networks in a research report on Thursday, March 12th. They set a “buy” rating and a $170.00 target price on the stock. The Goldman Sachs Group reiterated a “buy” rating and issued a $188.00 price target (up from $165.00) on shares of Arista Networks in a research note on Friday, February 13th. Finally, Needham & Company LLC raised their price objective on Arista Networks from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Eighteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $176.47.

Insider Buying and Selling

In other Arista Networks news, insider Kenneth Duda sold 32,000 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $134.14, for a total transaction of $4,292,480.00. Following the completion of the sale, the insider owned 12,976 shares in the company, valued at $1,740,600.64. The trade was a 71.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Yvonne Wassenaar sold 1,815 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $132.44, for a total transaction of $240,378.60. Following the sale, the director directly owned 12,574 shares in the company, 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. Insiders have sold 199,632 shares of company stock worth $26,936,324 over the last ninety days. 3.54% of the stock is owned by insiders.

Arista Networks Stock Up 3.6%

Shares of NYSE ANET opened at $135.98 on Tuesday. The stock’s 50 day moving average price is $135.61 and its two-hundred day moving average price is $137.24. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $164.94. The stock has a market capitalization of $170.87 billion, a P/E ratio of 49.27, a PEG ratio of 2.32 and a beta of 1.46.

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

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.