Arista Networks, Inc. (NYSE:ANET) is WT Asset Management Ltd's 7th Largest Position

WT Asset Management Ltd lessened its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 16.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,700 shares of the technology company's stock after selling 19,700 shares during the period. Arista Networks accounts for about 7.3% of WT Asset Management Ltd's portfolio, making the stock its 7th biggest holding. WT Asset Management Ltd's holdings in Arista Networks were worth $37,115,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Beacon Capital Management LLC increased its holdings in Arista Networks by 500.0% in the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company's stock valued at $27,000 after purchasing an additional 65 shares during the period. LGT Financial Advisors LLC acquired a new position in shares of Arista Networks in the 2nd quarter worth approximately $27,000. Byrne Asset Management LLC bought a new stake in shares of Arista Networks in the 2nd quarter valued at $33,000. Sugarloaf Wealth Management LLC acquired a new stake in shares of Arista Networks during the second quarter worth $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Arista Networks during the second quarter worth $35,000. 82.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ANET shares. Piper Sandler raised their price target on shares of Arista Networks from $302.00 to $345.00 and gave the stock a "neutral" rating in a report on Monday, July 15th. Morgan Stanley upped their price target on Arista Networks from $325.00 to $355.00 and gave the stock an "overweight" rating in a research note on Thursday, July 18th. The Goldman Sachs Group raised their price objective on Arista Networks from $390.00 to $430.00 and gave the company a "buy" rating in a research note on Tuesday, September 24th. Barclays increased their target price on Arista Networks from $320.00 to $341.00 and gave the stock an "overweight" rating in a report on Wednesday, July 31st. Finally, KeyCorp boosted their price target on shares of Arista Networks from $349.00 to $432.00 and gave the company an "overweight" rating in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Arista Networks presently has an average rating of "Moderate Buy" and an average price target of $373.88.

Arista Networks Trading Up 2.0 %

Shares of NYSE ANET traded up $7.73 during mid-day trading on Friday, hitting $394.17. The company had a trading volume of 1,311,024 shares, compared to its average volume of 2,200,594. The stock's 50-day moving average price is $375.35 and its 200-day moving average price is $337.82. The company has a market capitalization of $123.83 billion, a price-to-earnings ratio of 50.12, a P/E/G ratio of 3.49 and a beta of 1.07. Arista Networks, Inc. has a 1 year low of $203.19 and a 1 year high of $422.73.

Arista Networks (NYSE:ANET - Get Free Report) last posted its earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, topping analysts' consensus estimates of $1.72 by $0.38. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. Arista Networks's revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.41 EPS. As a group, equities research analysts forecast that Arista Networks, Inc. will post 7.42 earnings per share for the current year.

Insider Activity at Arista Networks

In other news, Director Kelly Bodnar Battles sold 216 shares of Arista Networks stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $324.02, for a total transaction of $69,988.32. Following the completion of the sale, the director now directly owns 2,726 shares of the company's stock, valued at approximately $883,278.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Arista Networks news, Director Kelly Bodnar Battles sold 216 shares of Arista Networks stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $324.02, for a total transaction of $69,988.32. Following the transaction, the director now directly owns 2,726 shares of the company's stock, valued at approximately $883,278.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 1,592 shares of the company's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $349.55, for a total transaction of $556,483.60. Following the completion of the sale, the senior vice president now directly owns 186,600 shares of the company's stock, valued at $65,226,030. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,522 shares of company stock valued at $20,099,338 over the last three months. 3.54% 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.