Mach 1 Financial Group LLC Sells 261 Shares of Arista Networks, Inc. (NYSE:ANET)

Mach 1 Financial Group LLC reduced its stake in Arista Networks, Inc. (NYSE:ANET) by 4.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,219 shares of the technology company’s stock after selling 261 shares during the quarter. Mach 1 Financial Group LLC’s holdings in Arista Networks were worth $1,229,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Rakuten Securities Inc. acquired a new position in shares of Arista Networks during the 4th quarter worth approximately $35,000. Atticus Wealth Management LLC grew its position in shares of Arista Networks by 3,625.0% during the 4th quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock worth $35,000 after purchasing an additional 145 shares in the last quarter. Larson Financial Group LLC acquired a new position in shares of Arista Networks during the 3rd quarter worth approximately $28,000. Sandy Spring Bank grew its position in shares of Arista Networks by 33.6% during the 4th quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock worth $37,000 after purchasing an additional 39 shares in the last quarter. Finally, First Command Advisory Services Inc. acquired a new position in shares of Arista Networks during the 3rd quarter worth approximately $29,000. 82.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Morgan Stanley increased their target price on shares of Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Oppenheimer reiterated a “market perform” rating on shares of Arista Networks in a research report on Tuesday, February 13th. Melius Research upgraded shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research report on Monday, January 8th. Piper Sandler increased their price target on shares of Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 13th. Finally, Evercore ISI reiterated an “outperform” rating and set a $300.00 price target on shares of Arista Networks in a research report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $275.59.

Insider Activity

In related news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction 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 completion of the transaction, the senior vice president now 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, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $286.52, for a total transaction of $573,040.00. Following the completion of the transaction, the director now directly owns 60,946 shares in the company, valued at $17,462,247.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kenneth Duda sold 20,000 shares of Arista Networks 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 transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at $940,922.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 332,514 shares of company stock valued at $95,369,397. Insiders own 18.99% of the company’s stock.

Arista Networks Stock Down 2.7 %

Shares of ANET stock traded down $7.11 during trading hours on Tuesday, hitting $256.56. 2,039,195 shares of the company’s stock traded hands, compared to its average volume of 2,465,440. The stock’s 50 day simple moving average is $279.07 and its 200 day simple moving average is $248.57. The stock has a market cap of $80.46 billion, a PE ratio of 39.05, a price-to-earnings-growth ratio of 2.26 and a beta of 1.09. Arista Networks, Inc. has a 12 month low of $131.68 and a 12 month high of $307.74.

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 the consensus estimate of $1.70 by $0.38. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 earnings per share. As a group, equities research analysts expect that Arista Networks, Inc. will post 6.7 EPS for the current fiscal year.

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.