Robbins Farley Decreases Stake in Arista Networks, Inc. (NYSE:ANET)

Robbins Farley lowered its holdings in Arista Networks, Inc. (NYSE:ANET) by 10.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,378 shares of the technology company’s stock after selling 728 shares during the quarter. Robbins Farley’s holdings in Arista Networks were worth $1,502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Sandy Spring Bank increased its position in Arista Networks by 33.6% during the fourth quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock valued at $37,000 after acquiring an additional 39 shares during the last quarter. Venturi Wealth Management LLC increased its position in Arista Networks by 2.3% in the fourth quarter. Venturi Wealth Management LLC now owns 1,839 shares of the technology company’s stock worth $433,000 after buying an additional 41 shares in the last quarter. Purus Wealth Management LLC increased its position in Arista Networks by 0.5% in the fourth quarter. Purus Wealth Management LLC now owns 8,619 shares of the technology company’s stock worth $2,030,000 after buying an additional 43 shares in the last quarter. Congress Park Capital LLC increased its position in Arista Networks by 0.6% in the fourth quarter. Congress Park Capital LLC now owns 7,739 shares of the technology company’s stock worth $1,823,000 after buying an additional 43 shares in the last quarter. Finally, Moody Lynn & Lieberson LLC increased its position in Arista Networks by 0.7% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 6,394 shares of the technology company’s stock worth $1,506,000 after buying an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Price Performance

Shares of Arista Networks stock traded down $11.10 on Friday, reaching $246.09. The company had a trading volume of 2,957,175 shares, compared to its average volume of 2,171,746. The firm has a market cap of $76.94 billion, a price-to-earnings ratio of 37.46, a P/E/G ratio of 2.20 and a beta of 1.09. The firm’s 50-day moving average price is $280.29 and its two-hundred day moving average price is $244.55. Arista Networks, Inc. has a 1 year low of $131.68 and a 1 year high of $307.74.

Arista Networks (NYSE:ANET) last announced its earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. The firm 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 EPS. As a group, analysts anticipate that Arista Networks, Inc. will post 6.7 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on ANET. Wells Fargo & Company upped their price target on Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Morgan Stanley upped their price target on Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Oppenheimer reissued a “market perform” rating on shares of Arista Networks in a research note on Tuesday, February 13th. Melius Research raised Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a research note on Monday, January 8th. Finally, Evercore ISI reissued an “outperform” rating and set a $300.00 target price on shares of Arista Networks in a research note on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.59.

Insider Transactions at Arista Networks

In related news, Director Yvonne Wassenaar sold 224 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total transaction of $57,184.96. Following the completion of the transaction, the director now owns 2,827 shares in the company, valued at approximately $721,704.83. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Yvonne Wassenaar sold 224 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total transaction of $57,184.96. Following the completion of the transaction, the director now owns 2,827 shares in the company, valued at approximately $721,704.83. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $290.05, for a total value of $5,801,000.00. Following the transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at approximately $940,922.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 342,229 shares of company stock worth $97,968,530. 18.99% of the stock is currently owned by company 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.