Mach 1 Financial Group LLC Lowers Stock Position in Arista Networks, Inc. (NYSE:ANET)

Mach 1 Financial Group LLC lessened its stake in Arista Networks, Inc. (NYSE:ANET) by 4.8% in the 4th quarter, Holdings Channel reports. The firm owned 5,219 shares of the technology company’s stock after selling 261 shares during the period. Mach 1 Financial Group LLC’s holdings in Arista Networks were worth $1,229,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Savant Capital LLC grew its stake in shares of Arista Networks by 101.5% in the fourth quarter. Savant Capital LLC now owns 8,606 shares of the technology company’s stock worth $2,027,000 after acquiring an additional 4,334 shares in the last quarter. Alpha Cubed Investments LLC acquired a new position in shares of Arista Networks in the fourth quarter worth $237,000. Vanguard Capital Wealth Advisors acquired a new position in shares of Arista Networks in the fourth quarter worth $277,000. Mission Wealth Management LP acquired a new position in shares of Arista Networks in the fourth quarter worth $217,000. Finally, Certuity LLC grew its stake in shares of Arista Networks by 34.8% in the fourth quarter. Certuity LLC now owns 8,534 shares of the technology company’s stock worth $2,010,000 after acquiring an additional 2,201 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Price Performance

Shares of NYSE:ANET traded down $7.11 on Tuesday, reaching $256.56. The company’s stock had a trading volume of 2,039,195 shares, compared to its average volume of 2,465,440. The stock’s 50-day moving average is $279.07 and its two-hundred day moving average is $248.57. Arista Networks, Inc. has a 52-week low of $131.68 and a 52-week high of $307.74. 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 (NYSE:ANET) last announced its earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.53 billion. During the same period in the prior year, the company earned $1.25 earnings per share. The business’s revenue was up 20.8% compared to the same quarter last year. Equities analysts forecast that Arista Networks, Inc. will post 6.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ANET shares. KeyCorp boosted their target price on shares of Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a research note on Thursday, January 18th. Evercore ISI reiterated an “outperform” rating and set a $300.00 target price on shares of Arista Networks in a research note on Wednesday, March 27th. Rosenblatt Securities reiterated a “sell” rating and set a $210.00 target price on shares of Arista Networks in a research note on Friday, April 12th. Needham & Company LLC reiterated a “buy” rating and set a $320.00 target price on shares of Arista Networks in a research note on Tuesday, February 13th. Finally, Piper Sandler boosted their target price on shares of Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $275.59.

Insider Activity

In other news, insider John F. Mccool sold 420 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $266.08, for a total transaction of $111,753.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider John F. Mccool sold 420 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $266.08, for a total transaction of $111,753.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total transaction of $5,801,000.00. Following the transaction, the senior vice president now owns 3,244 shares in the company, valued at $940,922.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 332,514 shares of company stock valued at $95,369,397. Insiders own 18.99% of the company’s stock.

About Arista Networks

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.