Sapient Capital LLC Sells 89 Shares of Arista Networks, Inc. (NYSE:ANET)

Sapient Capital LLC lowered its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 5.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 1,455 shares of the technology company’s stock after selling 89 shares during the quarter. Sapient Capital LLC’s holdings in Arista Networks were worth $422,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. NBC Securities Inc. raised its holdings in shares of Arista Networks by 21.5% in the 1st quarter. NBC Securities Inc. now owns 215 shares of the technology company’s stock valued at $62,000 after purchasing an additional 38 shares in the last quarter. Sandy Spring Bank boosted its holdings in shares of Arista Networks by 33.6% in the 4th quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock valued at $37,000 after acquiring an additional 39 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Arista Networks by 6.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 694 shares of the technology company’s stock valued at $163,000 after acquiring an additional 39 shares during the last quarter. Fulton Breakefield Broenniman LLC boosted its holdings in shares of Arista Networks by 1.8% in the 4th quarter. Fulton Breakefield Broenniman LLC now owns 2,255 shares of the technology company’s stock valued at $531,000 after acquiring an additional 40 shares during the last quarter. Finally, West Family Investments Inc. boosted its holdings in shares of Arista Networks by 3.3% in the 4th quarter. West Family Investments Inc. now owns 1,267 shares of the technology company’s stock valued at $298,000 after acquiring an additional 40 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Arista Networks Price Performance

Arista Networks stock traded down $7.11 during mid-day trading on Tuesday, reaching $256.56. The company had a trading volume of 2,039,195 shares, compared to its average volume of 2,465,440. Arista Networks, Inc. has a 1 year low of $131.68 and a 1 year high of $307.74. The company has a market capitalization of $80.46 billion, a P/E ratio of 39.05, a P/E/G ratio of 2.26 and a beta of 1.09. The stock’s 50-day simple moving average is $279.07 and its 200-day simple moving average is $248.57.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data 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. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the company posted $1.25 EPS. The company’s revenue was up 20.8% on a year-over-year basis. On average, equities analysts forecast that Arista Networks, Inc. will post 6.7 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. 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 report on Tuesday, February 13th. Barclays increased their target price on shares of Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. Morgan Stanley increased their target price on shares of Arista Networks from $230.00 to $272.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. JPMorgan Chase & Co. increased their target price on shares of Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Finally, Melius upgraded shares of Arista Networks from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $275.59.

Insider Transactions at Arista Networks

In other news, 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 transaction, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at approximately $4,929,639.61. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction on Monday, February 12th. The shares were sold at an average price of $284.31, for a total transaction of $5,686,200.00. Following the sale, the senior vice president now owns 3,244 shares of the company’s stock, valued at approximately $922,301.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jayshree Ullal sold 87,418 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was 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 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 332,514 shares of company stock valued at $95,369,397 in the last ninety days. Corporate insiders own 18.99% of the company’s stock.

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.