Arista Networks, Inc. (NYSE:ANET) Holdings Reduced by Beck Bode LLC

Beck Bode LLC decreased its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 4.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 59,496 shares of the technology company’s stock after selling 2,639 shares during the quarter. Arista Networks makes up about 3.1% of Beck Bode LLC’s investment portfolio, making the stock its 2nd largest position. Beck Bode LLC’s holdings in Arista Networks were worth $14,012,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Arista Networks by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 27,898,836 shares of the technology company’s stock valued at $5,131,433,000 after purchasing an additional 84,212 shares during the last quarter. FMR LLC increased its position in shares of Arista Networks by 32.2% during the third quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock valued at $1,897,906,000 after acquiring an additional 2,515,864 shares during the last quarter. WCM Investment Management LLC increased its position in shares of Arista Networks by 0.5% during the fourth quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock valued at $716,649,000 after acquiring an additional 16,081 shares during the last quarter. Northern Trust Corp increased its position in shares of Arista Networks by 5.0% during the third quarter. Northern Trust Corp now owns 2,403,738 shares of the technology company’s stock valued at $442,120,000 after acquiring an additional 114,978 shares during the last quarter. Finally, Jennison Associates LLC increased its position in shares of Arista Networks by 0.8% during the fourth quarter. Jennison Associates LLC now owns 1,807,494 shares of the technology company’s stock valued at $425,683,000 after acquiring an additional 14,627 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Price Performance

Shares of NYSE:ANET traded down $7.11 during trading on Tuesday, hitting $256.56. 2,039,195 shares of the company were exchanged, compared to its average volume of 2,465,440. The stock has a market capitalization of $80.46 billion, a P/E ratio of 39.05, a PEG ratio of 2.26 and a beta of 1.09. Arista Networks, Inc. has a 12-month low of $131.68 and a 12-month high of $307.74. The firm’s 50 day moving average price is $279.07 and its 200-day moving average price is $248.57.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the firm earned $1.25 EPS. The company’s revenue was up 20.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Arista Networks, Inc. will post 6.7 EPS for the current year.

Analyst Upgrades and Downgrades

ANET has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Melius Research upgraded shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a research report on Monday, January 8th. The Goldman Sachs Group lifted their price target on shares of Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Oppenheimer reiterated a “market perform” rating on shares of Arista Networks in a research report on Tuesday, February 13th. Finally, JMP Securities restated a “market outperform” rating and issued a $325.00 price objective on shares of Arista Networks in a report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $275.59.

Insider Activity at Arista Networks

In related news, Director Yvonne Wassenaar sold 224 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total value of $57,184.96. Following the completion of the sale, the director now owns 2,827 shares in the company, valued at approximately $721,704.83. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Arista Networks news, Director Yvonne Wassenaar sold 224 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total value of $57,184.96. Following the transaction, the director now directly owns 2,827 shares of the company’s stock, valued at approximately $721,704.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kelly Bodnar Battles sold 278 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $265.81, for a total transaction of $73,895.18. Following the completion of the transaction, the director now directly owns 2,553 shares in the company, valued at $678,612.93. The disclosure for this sale can be found here. Insiders sold a total of 332,514 shares of company stock worth $95,369,397 in the last 90 days. 18.99% of the stock is owned by insiders.

Arista Networks Profile

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.