Arista Networks, Inc. $ANET Shares Sold by Mitchell Capital Management Co.

Mitchell Capital Management Co. lessened its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 29.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,755 shares of the technology company’s stock after selling 21,323 shares during the quarter. Arista Networks comprises approximately 1.3% of Mitchell Capital Management Co.’s portfolio, making the stock its 17th biggest position. Mitchell Capital Management Co.’s holdings in Arista Networks were worth $7,541,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bare Financial Services Inc raised its position in Arista Networks by 2,118.2% during the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after buying an additional 233 shares during the last quarter. AdvisorNet Financial Inc increased its stake in shares of Arista Networks by 56.7% during the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after acquiring an additional 72 shares during the period. Richardson Financial Services Inc. raised its holdings in Arista Networks by 141.3% during the third quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock worth $32,000 after purchasing an additional 130 shares in the last quarter. SJS Investment Consulting Inc. lifted its position in Arista Networks by 979.2% in the third quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock valued at $38,000 after purchasing an additional 235 shares during the period. Finally, Solstein Capital LLC boosted its holdings in Arista Networks by 493.8% in the 2nd quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock valued at $39,000 after purchasing an additional 316 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Stock Down 1.7%

NYSE ANET opened at $140.96 on Thursday. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $164.94. The business has a fifty day moving average of $132.65 and a 200-day moving average of $136.71. The stock has a market cap of $177.51 billion, a price-to-earnings ratio of 53.60, a price-to-earnings-growth ratio of 2.42 and a beta of 1.42.

Insiders Place Their Bets

In other Arista Networks news, Director Kelly Bodnar Battles sold 422 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $117.15, for a total value of $49,437.30. Following the sale, the director directly owned 8,980 shares of the company’s stock, valued at approximately $1,052,007. This trade represents a 4.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $140.43, for a total value of $1,123,440.00. Following the completion of the sale, the director owned 9,784 shares of the company’s stock, valued at $1,373,967.12. This trade represents a 44.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 216,464 shares of company stock worth $27,553,548 over the last ninety days. Company insiders own 3.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ANET. Barclays reiterated an “overweight” rating and set a $183.00 target price (up previously from $179.00) on shares of Arista Networks in a research report on Wednesday, November 5th. Morgan Stanley dropped their price objective on Arista Networks from $171.00 to $159.00 and set an “overweight” rating on the stock in a report on Wednesday, December 17th. Erste Group Bank lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. Piper Sandler upgraded shares of Arista Networks from a “neutral” rating to an “overweight” rating and increased their price target for the company from $145.00 to $159.00 in a report on Monday, January 5th. Finally, UBS Group reissued a “buy” rating and set a $155.00 price objective on shares of Arista Networks in a report on Wednesday, December 3rd. Seventeen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $166.00.

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.