Arista Networks, Inc. (NYSE:ANET) Stock Position Lowered by Seven Post Investment Office LP

Seven Post Investment Office LP lowered its position in shares of Arista Networks, Inc. (NYSE:ANET) by 20.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,900 shares of the technology company’s stock after selling 1,000 shares during the quarter. Seven Post Investment Office LP’s holdings in Arista Networks were worth $918,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. AXQ Capital LP acquired a new stake in shares of Arista Networks during the 3rd quarter valued at $791,000. Advisor Resource Council boosted its position in shares of Arista Networks by 507.9% in the 4th quarter. Advisor Resource Council now owns 7,021 shares of the technology company’s stock valued at $1,653,000 after purchasing an additional 5,866 shares during the period. Bleakley Financial Group LLC increased its stake in Arista Networks by 4.6% in the 4th quarter. Bleakley Financial Group LLC now owns 4,445 shares of the technology company’s stock worth $1,047,000 after purchasing an additional 194 shares in the last quarter. WCM Investment Management LLC raised its holdings in Arista Networks by 0.5% during the 4th quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock worth $716,649,000 after buying an additional 16,081 shares during the period. Finally, abrdn plc lifted its stake in Arista Networks by 62.7% during the fourth quarter. abrdn plc now owns 113,851 shares of the technology company’s stock valued at $26,813,000 after buying an additional 43,889 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Price Performance

Shares of NYSE ANET traded up $12.54 during trading hours on Friday, hitting $274.40. 2,883,651 shares of the stock were exchanged, compared to its average volume of 2,426,995. Arista Networks, Inc. has a one year low of $131.68 and a one year high of $307.74. The company’s 50 day moving average is $279.07 and its 200 day moving average is $249.25. The firm has a market capitalization of $85.79 billion, a P/E ratio of 41.77, a P/E/G ratio of 2.34 and a beta of 1.13.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The business’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.25 earnings per share. Research analysts anticipate that Arista Networks, Inc. will post 6.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ANET shares. Rosenblatt Securities reissued a “sell” rating and set a $210.00 price target on shares of Arista Networks in a research report on Friday, April 12th. Piper Sandler upped their price target on shares of Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 13th. The Goldman Sachs Group lifted their price objective on Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $320.00 target price on shares of Arista Networks in a research report on Tuesday, February 13th. Finally, Melius Research raised Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a research note on Monday, January 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and an average price target of $285.53.

Insider Activity at Arista Networks

In other news, insider John F. Mccool sold 420 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $266.08, for a total value of $111,753.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider John F. Mccool sold 420 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $266.08, for a total transaction of $111,753.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jayshree Ullal sold 87,418 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $278.81, for a total transaction of $24,373,012.58. Following the completion of the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $4,929,639.61. The disclosure for this sale can be found here. Insiders sold a total of 335,974 shares of company stock worth $96,252,685 in the last 90 days. 18.99% of the stock is owned by company insiders.

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.