Deane Retirement Strategies Inc. Trims Holdings in Arista Networks, Inc. (NYSE:ANET)

Deane Retirement Strategies Inc. cut its holdings in Arista Networks, Inc. (NYSE:ANET) by 56.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,830 shares of the technology company’s stock after selling 8,915 shares during the quarter. Deane Retirement Strategies Inc.’s holdings in Arista Networks were worth $1,609,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Atticus Wealth Management LLC lifted its stake in Arista Networks by 3,625.0% during the 4th quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock valued at $35,000 after acquiring an additional 145 shares during the period. Larson Financial Group LLC bought a new position in shares of Arista Networks in the 3rd quarter worth approximately $28,000. First Command Advisory Services Inc. bought a new position in shares of Arista Networks in the 3rd quarter worth approximately $29,000. Sheets Smith Wealth Management bought a new position in shares of Arista Networks in the 1st quarter worth approximately $304,000. Finally, Hollencrest Capital Management bought a new position in shares of Arista Networks in the 1st quarter worth approximately $30,000. Institutional investors own 82.47% of the company’s stock.

Arista Networks Price Performance

Shares of ANET traded up $2.26 during mid-day trading on Thursday, reaching $290.67. The company’s stock had a trading volume of 697,666 shares, compared to its average volume of 2,477,247. Arista Networks, Inc. has a 12-month low of $131.68 and a 12-month high of $307.74. The stock has a market cap of $90.87 billion, a PE ratio of 43.90, a price-to-earnings-growth ratio of 2.57 and a beta of 1.10. The company’s 50 day moving average is $274.45 and its 200 day moving average is $232.99.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The business’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.25 EPS. As a group, sell-side analysts anticipate that Arista Networks, Inc. will post 6.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Evercore ISI restated an “outperform” rating and issued a $300.00 price target on shares of Arista Networks in a research report on Wednesday. Wells Fargo & Company lifted their target price on Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Barclays lifted their target price on Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. Melius Research upgraded Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research note on Monday, January 8th. Finally, Rosenblatt Securities raised their price target on Arista Networks from $230.00 to $330.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Arista Networks has an average rating of “Moderate Buy” and a consensus target price of $275.59.

Insider Buying and Selling

In related news, CEO Jayshree Ullal sold 22,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $301.45, for a total transaction of $6,631,900.00. Following the transaction, the chief executive officer now owns 1,660,800 shares in the company, valued at approximately $500,648,160. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $269.15, for a total transaction of $5,383,000.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at $873,122.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jayshree Ullal sold 22,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $301.45, for a total value of $6,631,900.00. Following the transaction, the chief executive officer now directly owns 1,660,800 shares of the company’s stock, valued at approximately $500,648,160. The disclosure for this sale can be found here. Insiders have sold 286,084 shares of company stock worth $79,741,091 in the last quarter. 18.99% of the stock is owned by insiders.

Arista Networks 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.