Arista Networks, Inc. (NYSE:ANET) Shares Sold by WT Asset Management Ltd

WT Asset Management Ltd reduced its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 69.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,000 shares of the technology company’s stock after selling 66,700 shares during the quarter. Arista Networks accounts for approximately 0.4% of WT Asset Management Ltd’s portfolio, making the stock its 25th largest holding. WT Asset Management Ltd’s holdings in Arista Networks were worth $3,316,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Czech National Bank increased its position in shares of Arista Networks by 8.5% in the third quarter. Czech National Bank now owns 52,476 shares of the technology company’s stock valued at $20,141,000 after buying an additional 4,108 shares in the last quarter. Diversified Trust Co increased its holdings in Arista Networks by 87.1% during the 3rd quarter. Diversified Trust Co now owns 5,158 shares of the technology company’s stock valued at $1,980,000 after acquiring an additional 2,401 shares in the last quarter. Chapin Davis Inc. purchased a new stake in shares of Arista Networks in the third quarter valued at about $2,106,000. Kesler Norman & Wride LLC acquired a new stake in shares of Arista Networks in the third quarter valued at approximately $1,544,000. Finally, Chesley Taft & Associates LLC purchased a new position in shares of Arista Networks during the 3rd quarter worth approximately $2,275,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $115.11 on Friday. The business has a 50-day moving average of $112.58 and a two-hundred day moving average of $99.48. The firm has a market capitalization of $145.01 billion, a PE ratio of 55.34, a P/E/G ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57.

Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The company’s revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. As a group, research analysts anticipate that Arista Networks, Inc. will post 1.97 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on ANET shares. Piper Sandler reiterated a “neutral” rating and set a $105.25 target price (up previously from $86.25) on shares of Arista Networks in a report on Friday, November 8th. Wells Fargo & Company lifted their price objective on Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. UBS Group upped their target price on shares of Arista Networks from $92.25 to $106.25 and gave the company a “neutral” rating in a report on Friday, November 8th. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Finally, Barclays reduced their price objective on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.83.

Insider Transactions at Arista Networks

In other news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $412.65, for a total transaction of $825,300.00. Following the sale, the director now owns 42,946 shares in the company, valued at $17,721,666.90. This trade represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kenneth Duda sold 80,000 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the completion of the transaction, the senior vice president now owns 12,976 shares of the company’s stock, valued at $1,405,171.04. This trade represents a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 255,832 shares of company stock valued at $28,538,497 over the last 90 days. Corporate insiders own 3.54% of the company’s stock.

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.