Realta Investment Advisors Lowers Stock Position in Arista Networks, Inc. (NYSE:ANET)

Realta Investment Advisors lowered its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 67.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,642 shares of the technology company's stock after selling 5,352 shares during the quarter. Realta Investment Advisors' holdings in Arista Networks were worth $1,092,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of ANET. UniSuper Management Pty Ltd lifted its position in Arista Networks by 20.3% during the first quarter. UniSuper Management Pty Ltd now owns 36,329 shares of the technology company's stock valued at $10,535,000 after purchasing an additional 6,133 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in Arista Networks during the 1st quarter valued at approximately $1,405,000. M&G Plc purchased a new position in Arista Networks in the 1st quarter worth approximately $3,238,000. Nordea Investment Management AB boosted its stake in Arista Networks by 32.5% in the 1st quarter. Nordea Investment Management AB now owns 26,799 shares of the technology company's stock worth $7,810,000 after purchasing an additional 6,578 shares during the period. Finally, GW Henssler & Associates Ltd. grew its holdings in Arista Networks by 3.6% during the 3rd quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company's stock valued at $24,274,000 after buying an additional 2,219 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Evercore ISI upped their target price on shares of Arista Networks from $400.00 to $425.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 1st. Morgan Stanley lifted their target price on Arista Networks from $325.00 to $355.00 and gave the stock an "overweight" rating in a report on Thursday, July 18th. Piper Sandler raised their price target on Arista Networks from $302.00 to $345.00 and gave the company a "neutral" rating in a report on Monday, July 15th. UBS Group upped their price objective on Arista Networks from $285.00 to $369.00 and gave the stock a "neutral" rating in a report on Wednesday, September 4th. Finally, Citigroup raised their target price on shares of Arista Networks from $385.00 to $460.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $373.88.

Arista Networks Stock Up 2.0 %

Arista Networks stock traded up $7.73 during midday trading on Friday, reaching $394.17. The stock had a trading volume of 1,313,901 shares, compared to its average volume of 2,200,594. Arista Networks, Inc. has a 52-week low of $203.19 and a 52-week high of $422.73. The company has a fifty day moving average of $376.13 and a 200 day moving average of $339.26. The firm has a market cap of $123.83 billion, a price-to-earnings ratio of 51.12, a price-to-earnings-growth ratio of 3.49 and a beta of 1.07.

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

Insider Buying and Selling at Arista Networks

In other news, CEO Jayshree Ullal sold 17,752 shares of the business's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $354.29, for a total transaction of $6,289,356.08. Following the completion of the sale, the chief executive officer now directly owns 17,681 shares of the company's stock, valued at approximately $6,264,201.49. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Jayshree Ullal sold 17,752 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $354.29, for a total transaction of $6,289,356.08. Following the transaction, the chief executive officer now directly owns 17,681 shares of the company's stock, valued at approximately $6,264,201.49. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Kenneth Duda sold 1,689 shares of the business's stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $321.28, for a total value of $542,641.92. Following the completion of the sale, the senior vice president now owns 182,600 shares of the company's stock, valued at $58,665,728. The trade was 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 in the last quarter. 3.54% of the stock is owned by 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.