Telos Capital Management Inc. Has $532,000 Stake in Arista Networks, Inc. (NYSE:ANET)

Telos Capital Management Inc. trimmed its holdings in Arista Networks, Inc. (NYSE:ANET) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,257 shares of the technology company’s stock after selling 69 shares during the period. Telos Capital Management Inc.’s holdings in Arista Networks were worth $532,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC acquired a new stake in shares of Arista Networks in the third quarter valued at approximately $28,000. First Command Advisory Services Inc. acquired a new stake in shares of Arista Networks in the third quarter valued at approximately $29,000. Hollencrest Capital Management acquired a new stake in Arista Networks during the 1st quarter worth approximately $30,000. BluePath Capital Management LLC acquired a new stake in Arista Networks during the 3rd quarter worth approximately $33,000. Finally, NBC Securities Inc. acquired a new stake in Arista Networks during the 3rd quarter worth approximately $33,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Stock Performance

Shares of ANET opened at $259.42 on Thursday. Arista Networks, Inc. has a 52-week low of $131.68 and a 52-week high of $307.74. The firm has a market cap of $81.10 billion, a price-to-earnings ratio of 39.49, a PEG ratio of 2.24 and a beta of 1.09. The business’s fifty day moving average is $281.39 and its 200-day moving average is $244.06.

Arista Networks (NYSE:ANET) last announced its earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.70 by $0.38. The firm had revenue of $1.54 billion for 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 quarterly revenue was up 20.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.25 EPS. As a group, research analysts forecast that Arista Networks, Inc. will post 6.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ANET has been the subject of several research reports. 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. Morgan Stanley lifted their price target on Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Piper Sandler lifted their price target on Arista Networks from $254.00 to $268.00 and gave the stock a “neutral” rating in a report on Tuesday, February 13th. Melius upgraded Arista Networks from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. Finally, Barclays raised their price objective on Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 13th. One investment 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.59.

Insider Activity

In other news, CEO Jayshree Ullal sold 8,002 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $267.39, for a total value of $2,139,654.78. Following the transaction, the chief executive officer now directly owns 74,764 shares of the company’s stock, valued at approximately $19,991,145.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Jayshree Ullal sold 8,002 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $267.39, for a total value of $2,139,654.78. Following the completion of the sale, the chief executive officer now directly owns 74,764 shares of the company’s stock, valued at approximately $19,991,145.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Yvonne Wassenaar sold 186 shares of the business’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $261.41, for a total value of $48,622.26. Following the completion of the sale, the director now directly owns 2,678 shares of the company’s stock, valued at $700,055.98. The disclosure for this sale can be found here. Insiders have sold 342,415 shares of company stock valued at $98,017,152 in the last ninety days. 18.99% of the stock is owned by company insiders.

Arista Networks Company 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.