Arista Networks, Inc. (NYSE:ANET) Shares Sold by Stevens Capital Management LP

Stevens Capital Management LP lessened its stake in Arista Networks, Inc. (NYSE:ANET) by 8.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,487 shares of the technology company’s stock after selling 131 shares during the period. Stevens Capital Management LP’s holdings in Arista Networks were worth $350,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in ANET. Sandy Spring Bank boosted its position in shares of Arista Networks by 33.6% during the fourth 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 period. Venturi Wealth Management LLC grew its holdings in shares of 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 buying an additional 41 shares during the last quarter. PDS Planning Inc grew its holdings in shares of Arista Networks by 3.1% during the fourth quarter. PDS Planning Inc now owns 1,376 shares of the technology company’s stock worth $324,000 after buying an additional 41 shares during the last quarter. Purus Wealth Management LLC increased its position in Arista Networks by 0.5% during the 4th quarter. Purus Wealth Management LLC now owns 8,619 shares of the technology company’s stock worth $2,030,000 after purchasing an additional 43 shares during the period. Finally, Congress Park Capital LLC increased its position in Arista Networks by 0.6% during the 4th quarter. Congress Park Capital LLC now owns 7,739 shares of the technology company’s stock worth $1,823,000 after purchasing an additional 43 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $290.05, for a total transaction of $5,801,000.00. Following the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $940,922.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $290.05, for a total transaction of $5,801,000.00. Following the transaction, the senior vice president now directly owns 3,244 shares in the company, valued at $940,922.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Marc Taxay sold 11,650 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $286.28, for a total transaction of $3,335,162.00. The disclosure for this sale can be found here. Insiders have sold a total of 333,494 shares of company stock valued at $95,632,321 over the last quarter. 18.99% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ANET shares. Morgan Stanley increased their target price on Arista Networks from $230.00 to $272.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Melius raised Arista Networks from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Melius Research upgraded Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a report on Monday, January 8th. JPMorgan Chase & Co. raised their target price on Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, The Goldman Sachs Group raised their target price on Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and an average price target of $275.59.

Arista Networks Price Performance

Shares of ANET stock traded down $0.19 on Friday, hitting $264.57. The company’s stock had a trading volume of 2,521,273 shares, compared to its average volume of 2,483,228. The stock has a market capitalization of $82.71 billion, a price-to-earnings ratio of 40.65, a P/E/G ratio of 2.18 and a beta of 1.09. Arista Networks, Inc. has a fifty-two week low of $131.68 and a fifty-two week high of $307.74. The firm’s fifty day moving average price is $279.04 and its 200-day moving average price is $246.38.

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, topping analysts’ consensus estimates of $1.70 by $0.38. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The business’s revenue was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 EPS. Analysts predict that Arista Networks, Inc. will post 6.7 EPS for the current fiscal year.

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.