Arista Networks, Inc. $ANET Shares Sold by Treasurer of the State of North Carolina

by · The Cerbat Gem

Treasurer of the State of North Carolina lowered its position in shares of Arista Networks, Inc. (NYSE:ANET – Free Report) by 2.0% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 481,903 shares of the technology company’s stock after selling 9,891 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Arista Networks were worth $49,303,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ANET. Stablepoint Partners LLC lifted its holdings in shares of Arista Networks by 0.8% during the second quarter. Stablepoint Partners LLC now owns 9,406 shares of the technology company’s stock worth $962,000 after purchasing an additional 77 shares during the period. Glenview Trust co raised its position in Arista Networks by 2.5% during the 2nd quarter. Glenview Trust co now owns 3,502 shares of the technology company’s stock worth $358,000 after buying an additional 84 shares during the last quarter. Telos Capital Management Inc. lifted its stake in Arista Networks by 1.0% during the 2nd quarter. Telos Capital Management Inc. now owns 9,260 shares of the technology company’s stock valued at $947,000 after acquiring an additional 88 shares during the period. Wealthcare Advisory Partners LLC boosted its holdings in shares of Arista Networks by 1.6% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 6,038 shares of the technology company’s stock valued at $618,000 after acquiring an additional 95 shares during the last quarter. Finally, Putney Financial Group LLC boosted its holdings in shares of Arista Networks by 0.7% in the 2nd quarter. Putney Financial Group LLC now owns 14,139 shares of the technology company’s stock valued at $1,447,000 after acquiring an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Activity at Arista Networks

In related news, insider Kenneth Duda sold 26,000 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $128.61, for a total value of $3,343,860.00. Following the transaction, the insider directly owned 542,400 shares of the company’s stock, valued at approximately $69,758,064. This trade represents a 4.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kelly Bodnar Battles sold 422 shares of Arista Networks stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $117.15, for a total value of $49,437.30. Following the completion of the sale, the director owned 8,980 shares in the company, valued at approximately $1,052,007. The trade was a 4.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 274,464 shares of company stock worth $38,250,488 in the last ninety days. 3.39% of the stock is owned by company insiders.

Analysts Set New Price Targets

ANET has been the subject of a number of research reports. Rosenblatt Securities restated a “neutral” rating and set a $140.00 target price on shares of Arista Networks in a research report on Monday, November 24th. Needham & Company LLC boosted their price objective on Arista Networks from $155.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. Evercore ISI raised their target price on Arista Networks from $150.00 to $175.00 and gave the stock an “outperform” rating in a report on Friday, September 12th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Arista Networks in a research report on Monday. Finally, The Goldman Sachs Group upped their price objective on Arista Networks from $155.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Eighteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and an average target price of $164.31.

Check Out Our Latest Analysis on Arista Networks

Arista Networks Trading Up 1.5%

NYSE ANET opened at $134.33 on Friday. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94. The stock has a 50-day moving average of $139.37 and a 200 day moving average of $126.21. The stock has a market capitalization of $169.16 billion, a price-to-earnings ratio of 51.08, a PEG ratio of 2.54 and a beta of 1.41.

Arista Networks (NYSE:ANET – Get Free Report) last announced its earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the prior year, the company posted $2.40 EPS. The business’s quarterly revenue was up 27.5% on a year-over-year basis. Equities analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks Profile

(Free Report)

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.

See Also

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