Jackson Creek Investment Advisors LLC Sells 1,437 Shares of Arista Networks, Inc. (NYSE:ANET)

Jackson Creek Investment Advisors LLC cut its holdings in Arista Networks, Inc. (NYSE:ANET) by 25.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,108 shares of the technology company’s stock after selling 1,437 shares during the quarter. Jackson Creek Investment Advisors LLC’s holdings in Arista Networks were worth $967,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC purchased a new stake in shares of Arista Networks during the third quarter valued at $28,000. First Command Advisory Services Inc. bought a new position in Arista Networks during the 3rd quarter valued at about $29,000. BluePath Capital Management LLC bought a new position in Arista Networks during the 3rd quarter valued at about $33,000. NBC Securities Inc. purchased a new stake in shares of Arista Networks during the 3rd quarter valued at about $33,000. Finally, Atticus Wealth Management LLC grew its stake in shares of Arista Networks by 3,625.0% in the fourth quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock worth $35,000 after acquiring an additional 145 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Stock Performance

Shares of Arista Networks stock traded down $7.11 during trading hours on Tuesday, hitting $256.56. The company’s stock had a trading volume of 2,007,590 shares, compared to its average volume of 2,465,082. The business has a 50 day moving average price of $279.13 and a two-hundred day moving average price of $248.11. Arista Networks, Inc. has a 12-month low of $131.68 and a 12-month high of $307.74. The company has a market cap of $80.46 billion, a PE ratio of 39.95, a PEG ratio of 2.26 and a beta of 1.09.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the business earned $1.25 earnings per share. The business’s revenue was up 20.8% on a year-over-year basis. As a group, research analysts anticipate that Arista Networks, Inc. will post 6.7 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ANET shares. JMP Securities reaffirmed a “market outperform” rating and issued a $325.00 target price on shares of Arista Networks in a research report on Tuesday, February 13th. Rosenblatt Securities reaffirmed a “sell” rating and issued a $210.00 price objective on shares of Arista Networks in a report on Friday, April 12th. Evercore ISI reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Arista Networks in a report on Wednesday, March 27th. JPMorgan Chase & Co. lifted their price objective on Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, The Goldman Sachs Group lifted their price objective on Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $275.59.

Insider Transactions at Arista Networks

In other news, insider John F. Mccool sold 420 shares of Arista Networks stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $266.08, for a total value of $111,753.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $286.52, for a total transaction of $573,040.00. Following the transaction, the director now owns 60,946 shares of the company’s stock, valued at $17,462,247.92. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John F. Mccool sold 420 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $266.08, for a total value of $111,753.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 332,514 shares of company stock valued at $95,369,397. 18.99% of the stock is currently owned by insiders.

About Arista Networks

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.