World Investment Advisors Decreases Stake in Arista Networks, Inc. $ANET

World Investment Advisors trimmed its position in shares of Arista Networks, Inc. (NYSE:ANET) by 38.7% during the third quarter, Holdings Channel reports. The institutional investor owned 6,850 shares of the technology company’s stock after selling 4,321 shares during the quarter. World Investment Advisors’ holdings in Arista Networks were worth $998,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of Arista Networks by 321.7% in the 4th quarter. Brighton Jones LLC now owns 7,806 shares of the technology company’s stock valued at $863,000 after purchasing an additional 5,955 shares in the last quarter. Revolve Wealth Partners LLC purchased a new position in Arista Networks in the fourth quarter valued at $202,000. Bison Wealth LLC purchased a new position in Arista Networks in the fourth quarter valued at $251,000. Gamco Investors INC. ET AL raised its stake in Arista Networks by 70.9% in the first quarter. Gamco Investors INC. ET AL now owns 3,193 shares of the technology company’s stock valued at $247,000 after buying an additional 1,325 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Arista Networks by 66.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,085,512 shares of the technology company’s stock worth $84,108,000 after buying an additional 432,074 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Performance

Shares of Arista Networks stock opened at $131.92 on Monday. The company has a market capitalization of $166.13 billion, a P/E ratio of 50.16, a PEG ratio of 2.52 and a beta of 1.41. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $164.94. The company’s fifty day moving average is $135.01 and its two-hundred day moving average is $129.44.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the prior year, the firm earned $2.40 earnings per share. The business’s quarterly revenue was up 27.5% compared to the same quarter last year. As a group, equities analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ANET. Zacks Research downgraded Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. BNP Paribas upgraded shares of Arista Networks from a “hold” rating to an “outperform” rating in a research note on Thursday, September 25th. JPMorgan Chase & Co. raised their price objective on shares of Arista Networks from $150.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Weiss Ratings restated a “hold (c+)” rating on shares of Arista Networks in a research report on Monday, December 22nd. Finally, Melius Research increased their target price on shares of Arista Networks from $160.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Seventeen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $163.56.

Insider Buying and Selling at Arista Networks

In related news, insider Kenneth Duda sold 30,000 shares of Arista Networks stock in a transaction on Friday, October 17th. The shares were sold at an average price of $142.75, for a total value of $4,282,500.00. Following the transaction, the insider directly owned 12,976 shares in the company, valued at $1,852,324. This trade represents a 69.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $128.09, for a total transaction of $1,024,720.00. Following the transaction, the director owned 25,784 shares of the company’s stock, valued at approximately $3,302,672.56. The trade was a 23.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 216,464 shares of company stock worth $28,598,588. 3.54% of the stock is currently owned by insiders.

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.