Stevens Capital Management LP Sells 131 Shares of Arista Networks, Inc. (NYSE:ANET)

Stevens Capital Management LP reduced its position in Arista Networks, Inc. (NYSE:ANET) by 8.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ANET. Flagship Harbor Advisors LLC purchased a new position in Arista Networks during the 3rd quarter worth approximately $204,000. DAVENPORT & Co LLC boosted its stake in Arista Networks by 6.1% during the 3rd quarter. DAVENPORT & Co LLC now owns 6,179 shares of the technology company’s stock worth $1,137,000 after purchasing an additional 354 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in Arista Networks by 74.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 14,070 shares of the technology company’s stock worth $2,588,000 after purchasing an additional 6,014 shares during the last quarter. Caprock Group LLC boosted its stake in Arista Networks by 6.5% during the 3rd quarter. Caprock Group LLC now owns 5,238 shares of the technology company’s stock worth $963,000 after purchasing an additional 320 shares during the last quarter. Finally, Czech National Bank boosted its stake in Arista Networks by 48.3% during the 3rd quarter. Czech National Bank now owns 43,834 shares of the technology company’s stock worth $8,062,000 after purchasing an additional 14,274 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ANET shares. Needham & Company LLC reiterated a “buy” rating and set a $320.00 price target on shares of Arista Networks in a report on Tuesday, February 13th. Melius Research upgraded Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a report on Monday, January 8th. Melius upgraded Arista Networks from a “hold” rating to a “buy” rating in a report on Monday, January 8th. The Goldman Sachs Group lifted their price target on Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, JMP Securities reiterated a “market outperform” rating and set a $325.00 price target on shares of Arista Networks in a report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $275.59.

Insider Activity

In related news, CEO Jayshree Ullal sold 980 shares of Arista Networks stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $268.29, for a total value of $262,924.20. Following the sale, the chief executive officer now directly owns 73,051 shares in the company, valued at $19,598,852.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Jayshree Ullal sold 980 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $268.29, for a total transaction of $262,924.20. Following the sale, the chief executive officer now owns 73,051 shares of the company’s stock, valued at approximately $19,598,852.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Yvonne Wassenaar sold 224 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total value of $57,184.96. Following the completion of the transaction, the director now directly owns 2,827 shares of the company’s stock, valued at $721,704.83. 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. Corporate insiders own 18.99% of the company’s stock.

Arista Networks Stock Down 0.1 %

NYSE:ANET traded down $0.19 on Friday, reaching $264.57. 2,521,273 shares of the company’s stock were exchanged, compared to its average volume of 2,483,228. The firm has a market capitalization of $82.71 billion, a price-to-earnings ratio of 40.65, a price-to-earnings-growth ratio of 2.18 and a beta of 1.09. The business has a fifty day moving average of $279.04 and a 200-day moving average of $246.38. Arista Networks, Inc. has a 52-week low of $131.68 and a 52-week high of $307.74.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. The business 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%. The business’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 earnings per share. As a group, equities analysts anticipate that Arista Networks, Inc. will post 6.7 earnings per share for the current 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.