WD Rutherford LLC Trims Holdings in Arista Networks, Inc. (NYSE:ANET)

WD Rutherford LLC decreased its position in Arista Networks, Inc. (NYSE:ANET) by 5.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 14,364 shares of the technology company’s stock after selling 866 shares during the period. Arista Networks comprises approximately 2.7% of WD Rutherford LLC’s portfolio, making the stock its 5th biggest holding. WD Rutherford LLC’s holdings in Arista Networks were worth $5,513,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. UniSuper Management Pty Ltd lifted its stake in shares of Arista Networks by 20.3% in the 1st 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 during the period. Central Pacific Bank Trust Division bought a new position in shares of Arista Networks in the 1st quarter worth about $1,405,000. M&G Plc bought a new position in shares of Arista Networks in the 1st quarter worth about $3,238,000. Nordea Investment Management AB boosted its stake in Arista Networks by 32.5% during the first quarter. Nordea Investment Management AB now owns 26,799 shares of the technology company’s stock worth $7,810,000 after acquiring an additional 6,578 shares in the last quarter. Finally, Deepwater Asset Management LLC bought a new stake in Arista Networks during the second quarter worth about $15,084,000. 82.47% of the stock is owned by institutional investors.

Arista Networks Stock Up 2.3 %

ANET stock opened at $401.57 on Wednesday. The business’s 50-day moving average price is $373.86 and its 200-day moving average price is $337.07. The stock has a market cap of $125.84 billion, a P/E ratio of 55.93, a PEG ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a twelve month low of $174.59 and a twelve month high of $422.73.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.41 EPS. On average, equities research analysts expect that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ANET shares. 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 report on Tuesday, September 24th. Jefferies Financial Group raised their price objective on shares of Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Rosenblatt Securities increased their price target on shares of Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Barclays increased their target price on Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. boosted their target price on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $369.50.

Insider Buying and Selling

In related news, Director Kelly Bodnar Battles sold 373 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $396.48, for a total value of $147,887.04. Following the sale, the director now owns 2,192 shares in the company, valued at approximately $869,084.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Arista Networks news, Director Kelly Bodnar Battles sold 373 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $396.48, for a total transaction of $147,887.04. Following the sale, the director now directly owns 2,192 shares in the company, valued at $869,084.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $394.69, for a total value of $7,893,800.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at approximately $1,280,374.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,570 shares of company stock worth $21,474,782. Corporate insiders own 3.54% of the company’s stock.

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.