Arista Networks, Inc. (NYSE:ANET) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC decreased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 15.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 324,729 shares of the technology company’s stock after selling 60,654 shares during the period. Arista Networks makes up approximately 1.4% of Wedge Capital Management L L P NC’s investment portfolio, making the stock its 12th largest holding. Wedge Capital Management L L P NC’s holdings in Arista Networks were worth $76,477,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Melius raised Arista Networks from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. KeyCorp lifted their price target on Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a report on Thursday, January 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $320.00 price objective on shares of Arista Networks in a research note 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 objective on the stock in a report on Monday, January 8th. Finally, Barclays upped their price target on shares of Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. 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’s stock. Based on data from MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and an average target price of $275.59.

Insider Buying and Selling at Arista Networks

In related news, Director Yvonne Wassenaar sold 224 shares of Arista Networks stock in a transaction 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 sale, the director now owns 2,827 shares in the company, valued at $721,704.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Arista Networks news, SVP Marc Taxay sold 11,650 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $286.28, for a total transaction of $3,335,162.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Yvonne Wassenaar sold 224 shares of Arista Networks stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total transaction 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 334,227 shares of company stock valued at $95,828,875 in the last three months. Corporate insiders own 18.99% of the company’s stock.

Arista Networks Price Performance

ANET traded down $0.62 during trading hours on Monday, reaching $245.47. 3,411,345 shares of the stock traded hands, compared to its average volume of 2,469,807. Arista Networks, Inc. has a fifty-two week low of $131.68 and a fifty-two week high of $307.74. The company has a market cap of $76.74 billion, a price-to-earnings ratio of 37.46, a PEG ratio of 2.10 and a beta of 1.09. The firm’s fifty day simple moving average is $280.29 and its two-hundred day simple moving average is $245.38.

Arista Networks (NYSE:ANET) last announced its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the company earned $1.25 earnings per share. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. On average, research analysts predict that Arista Networks, Inc. will post 6.7 earnings per share for the current 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.