Glynn Capital Management LLC Sells 10,466 Shares of Arista Networks, Inc. $ANET

Glynn Capital Management LLC trimmed its position in Arista Networks, Inc. (NYSE:ANET) by 10.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,008 shares of the technology company’s stock after selling 10,466 shares during the quarter. Arista Networks makes up approximately 4.3% of Glynn Capital Management LLC’s portfolio, making the stock its 13th biggest holding. Glynn Capital Management LLC’s holdings in Arista Networks were worth $13,698,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Walkner Condon Financial Advisors LLC lifted its stake in Arista Networks by 0.4% in the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 18,509 shares of the technology company’s stock worth $2,697,000 after purchasing an additional 70 shares in the last quarter. AdvisorNet Financial Inc grew 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 purchasing an additional 72 shares in the last quarter. Crown Wealth Group LLC increased its holdings in shares of Arista Networks by 2.4% in the third quarter. Crown Wealth Group LLC now owns 3,175 shares of the technology company’s stock worth $463,000 after purchasing an additional 75 shares during the period. Fragasso Financial Advisors Inc raised its position in shares of Arista Networks by 1.8% in the third quarter. Fragasso Financial Advisors Inc now owns 4,237 shares of the technology company’s stock worth $616,000 after buying an additional 76 shares in the last quarter. Finally, West Family Investments Inc. raised its position in shares of Arista Networks by 0.9% in the third quarter. West Family Investments Inc. now owns 8,364 shares of the technology company’s stock worth $1,219,000 after buying an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Trading Down 3.1%

Shares of NYSE ANET opened at $129.31 on Tuesday. The stock’s 50-day moving average is $134.32 and its 200 day moving average is $137.28. The stock has a market cap of $162.49 billion, a price-to-earnings ratio of 46.85, a P/E/G ratio of 2.37 and a beta of 1.46. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $164.94.

Arista Networks (NYSE:ANET) last issued its earnings results 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 business had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.38 billion. Arista Networks had a return on equity of 30.37% and a net margin of 38.99%.Arista Networks’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 earnings per share. On average, analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Buying and Selling at Arista Networks

In related news, Director Yvonne Wassenaar sold 1,815 shares of the stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $132.44, for a total transaction of $240,378.60. Following the transaction, the director owned 12,574 shares of the company’s stock, valued at approximately $1,665,300.56. This trade represents a 12.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kenneth Duda sold 26,000 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $142.35, for a total transaction of $3,701,100.00. Following the completion of the sale, the insider directly owned 512,400 shares of the company’s stock, valued at $72,940,140. This represents a 4.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 188,237 shares of company stock worth $24,836,400 over the last 90 days. Company insiders own 3.54% of the company’s stock.

Analysts Set New Price Targets

ANET has been the subject of several recent analyst reports. Rosenblatt Securities boosted their target price on Arista Networks from $140.00 to $165.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Barclays reiterated an “overweight” rating and set a $184.00 price target (up from $183.00) on shares of Arista Networks in a research report on Friday, February 13th. The Goldman Sachs Group reissued a “buy” rating and set a $188.00 price objective (up from $165.00) on shares of Arista Networks in a report on Friday, February 13th. Piper Sandler restated an “overweight” rating and issued a $175.00 price objective (up from $159.00) on shares of Arista Networks in a research report on Friday, February 13th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Arista Networks in a research report on Monday, December 29th. Seventeen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $176.88.

Arista Networks 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.