Vestmark Advisory Solutions Inc. Decreases Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Vestmark Advisory Solutions Inc. lessened its stake in Arista Networks, Inc. (NYSE:ANET) by 1.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,659 shares of the technology company’s stock after selling 139 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Arista Networks were worth $2,981,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in ANET. Sandy Spring Bank boosted its holdings in Arista Networks by 33.6% in the 4th quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock worth $37,000 after buying an additional 39 shares during the last quarter. Fulton Breakefield Broenniman LLC raised its position in shares of Arista Networks by 1.8% in the fourth quarter. Fulton Breakefield Broenniman LLC now owns 2,255 shares of the technology company’s stock valued at $531,000 after buying an additional 40 shares during the last quarter. West Family Investments Inc. lifted its stake in shares of Arista Networks by 3.3% in the fourth quarter. West Family Investments Inc. now owns 1,267 shares of the technology company’s stock worth $298,000 after buying an additional 40 shares in the last quarter. Venturi Wealth Management LLC boosted its position in Arista Networks by 2.3% during the fourth quarter. Venturi Wealth Management LLC now owns 1,839 shares of the technology company’s stock worth $433,000 after acquiring an additional 41 shares during the last quarter. Finally, PDS Planning Inc grew its stake in Arista Networks by 3.1% during the 4th quarter. PDS Planning Inc now owns 1,376 shares of the technology company’s stock valued at $324,000 after acquiring an additional 41 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider John F. Mccool sold 420 shares of the stock in a transaction on 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 this hyperlink. In related news, 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 transaction of $111,753.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jayshree Ullal sold 87,418 shares of the firm’s stock in a transaction that occurred on 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 directly owns 17,681 shares in the company, valued at approximately $4,929,639.61. The disclosure for this sale can be found here. Insiders have sold a total of 335,974 shares of company stock valued at $96,252,685 in the last ninety days. Company insiders own 18.99% of the company’s stock.

Arista Networks Price Performance

Shares of ANET stock traded up $12.54 on Friday, hitting $274.40. The stock had a trading volume of 2,883,651 shares, compared to its average volume of 2,426,995. The company’s 50 day moving average price is $279.07 and its 200-day moving average price is $249.25. Arista Networks, Inc. has a 1 year low of $131.68 and a 1 year high of $307.74. 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 earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.38. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. Arista Networks’s revenue was up 20.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.25 EPS. On average, equities analysts forecast that Arista Networks, Inc. will post 6.74 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Evercore ISI restated an “outperform” rating and set a $300.00 target price on shares of Arista Networks in a report on Wednesday, March 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $320.00 target price on shares of Arista Networks in a research note on Tuesday, February 13th. Melius raised shares of Arista Networks from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. JMP Securities restated a “market outperform” rating and set a $325.00 price objective on shares of Arista Networks in a research report on Tuesday, February 13th. Finally, Piper Sandler boosted their target price on shares of Arista Networks from $254.00 to $268.00 and gave the company a “neutral” rating in a report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and a consensus price target of $285.53.

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.