Sapient Capital LLC Sells 89 Shares of Arista Networks, Inc. (NYSE:ANET)

Sapient Capital LLC reduced its position in Arista Networks, Inc. (NYSE:ANET) by 5.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,455 shares of the technology company’s stock after selling 89 shares during the period. Sapient Capital LLC’s holdings in Arista Networks were worth $422,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ANET. Financial Synergies Wealth Advisors Inc. raised its position in shares of Arista Networks by 872.7% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after purchasing an additional 96 shares during the last quarter. Alaska Permanent Fund Corp acquired a new stake in shares of Arista Networks during the 1st quarter worth approximately $37,000. Riverview Trust Co acquired a new stake in shares of Arista Networks during the 1st quarter worth approximately $40,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Arista Networks during the 1st quarter worth approximately $42,000. Finally, Rakuten Securities Inc. acquired a new stake in Arista Networks in the 4th quarter valued at $35,000. 82.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ANET has been the topic of a number of research analyst reports. 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 note on Friday, March 22nd. Rosenblatt Securities reissued a “sell” rating and issued a $210.00 price target on shares of Arista Networks in a research note on Friday, April 12th. Piper Sandler lifted their price target on shares of Arista Networks from $254.00 to $268.00 and gave the company a “neutral” rating in a research note on Tuesday, February 13th. JPMorgan Chase & Co. lifted their target price on shares of Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, Morgan Stanley lifted their target price on shares of Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $275.59.

Arista Networks Stock Performance

NYSE ANET traded down $7.11 on Tuesday, reaching $256.56. The stock had a trading volume of 2,039,195 shares, compared to its average volume of 2,465,440. Arista Networks, Inc. has a 12-month low of $131.68 and a 12-month high of $307.74. The business’s 50-day moving average price is $279.07 and its 200 day moving average price is $248.57. The stock has a market cap of $80.46 billion, a P/E ratio of 39.05, a price-to-earnings-growth ratio of 2.26 and a beta of 1.09.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.70 by $0.38. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 earnings per share. On average, sell-side analysts predict that Arista Networks, Inc. will post 6.7 earnings per share for the current year.

Insiders Place Their Bets

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $284.31, for a total value of $5,686,200.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares in the company, valued at $922,301.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $284.31, for a total value of $5,686,200.00. Following the sale, the senior vice president now owns 3,244 shares of the company’s stock, valued at $922,301.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John F. Mccool sold 420 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $266.08, for a total value of $111,753.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 332,514 shares of company stock worth $95,369,397. 18.99% of the stock is owned by corporate insiders.

Arista Networks Company 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.