Vestmark Advisory Solutions Inc. Sells 139 Shares of Arista Networks, Inc. (NYSE:ANET)

Vestmark Advisory Solutions Inc. decreased its holdings in Arista Networks, Inc. (NYSE:ANET) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,659 shares of the technology company’s stock after selling 139 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Arista Networks were worth $2,981,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC bought a new stake in Arista Networks in the 3rd quarter worth about $28,000. First Command Advisory Services Inc. purchased a new position in shares of Arista Networks during the third quarter valued at approximately $29,000. BluePath Capital Management LLC bought a new position in Arista Networks during the third quarter valued at approximately $33,000. NBC Securities Inc. bought a new position in Arista Networks during the third quarter valued at approximately $33,000. Finally, Atticus Wealth Management LLC boosted its holdings in Arista Networks by 3,625.0% in the fourth quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock worth $35,000 after purchasing an additional 145 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ANET shares. Oppenheimer reiterated a “market perform” rating on shares of Arista Networks in a research note on Tuesday, February 13th. Wells Fargo & Company raised their target price on Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Melius raised shares of Arista Networks from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Jefferies Financial Group raised shares of Arista Networks from a “hold” rating to a “buy” rating and raised their price objective for the stock from $240.00 to $320.00 in a report on Friday. Finally, 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $285.53.

Arista Networks Stock Performance

ANET traded up $12.54 during trading on Friday, reaching $274.40. 2,883,651 shares of the company traded hands, compared to its average volume of 2,426,995. The company has a market cap of $85.79 billion, a P/E ratio of 41.77, a PEG ratio of 2.34 and a beta of 1.13. Arista Networks, Inc. has a 12-month low of $131.68 and a 12-month high of $307.74. The firm has a fifty day simple moving average of $279.07 and a 200 day simple moving average of $249.25.

Arista Networks (NYSE:ANET) last posted 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. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The company 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 earnings per share. Arista Networks’s quarterly revenue was up 20.8% on a year-over-year basis. As a group, sell-side analysts expect that Arista Networks, Inc. will post 6.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $255.83, for a total transaction of $511,660.00. Following the completion of the transaction, the director now owns 56,946 shares in the company, valued at approximately $14,568,495.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider John F. Mccool sold 416 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $254.54, for a total transaction of $105,888.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $255.83, for a total value of $511,660.00. Following the completion of the transaction, the director now owns 56,946 shares of the company’s stock, valued at approximately $14,568,495.18. The disclosure for this sale can be found here. Over the last three months, insiders have sold 335,974 shares of company stock worth $96,252,685. 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.