Arista Networks, Inc. (NYSE:ANET) Shares Sold by Watershed Private Wealth LLC

Watershed Private Wealth LLC trimmed its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 8.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,344 shares of the technology company’s stock after selling 121 shares during the quarter. Watershed Private Wealth LLC’s holdings in Arista Networks were worth $516,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. UniSuper Management Pty Ltd lifted its position in Arista Networks by 20.3% in the first quarter. UniSuper Management Pty Ltd now owns 36,329 shares of the technology company’s stock valued at $10,535,000 after purchasing an additional 6,133 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of Arista Networks in the first quarter valued at about $1,405,000. M&G Plc purchased a new stake in Arista Networks during the first quarter worth about $3,238,000. Nordea Investment Management AB grew its position in Arista Networks by 32.5% during the first quarter. Nordea Investment Management AB now owns 26,799 shares of the technology company’s stock worth $7,810,000 after buying an additional 6,578 shares during the period. Finally, Deepwater Asset Management LLC purchased a new position in Arista Networks in the second quarter valued at about $15,084,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Marc Taxay sold 628 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $350.50, for a total transaction of $220,114.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Marc Taxay sold 628 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $350.50, for a total transaction of $220,114.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $394.69, for a total value of $7,893,800.00. Following the transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at approximately $1,280,374.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,197 shares of company stock valued at $21,326,894 over the last 90 days. 3.54% of the stock is owned by company insiders.

Arista Networks Stock Performance

Shares of ANET stock traded down $21.54 during mid-day trading on Tuesday, reaching $391.93. 3,291,039 shares of the company were exchanged, compared to its average volume of 2,245,843. The company has a market capitalization of $122.82 billion, a P/E ratio of 53.76, a P/E/G ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $422.73. The business’s 50 day simple moving average is $361.31 and its 200 day simple moving average is $328.80.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, topping the consensus estimate of $1.72 by $0.38. The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.41 earnings per share. On average, analysts forecast that Arista Networks, Inc. will post 7.38 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ANET shares. KeyCorp boosted their price target on Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Piper Sandler boosted their price objective on shares of Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Evercore ISI raised their target price on shares of Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Citigroup boosted their price target on Arista Networks from $385.00 to $460.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, UBS Group increased their price target on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. 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 MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and an average target price of $369.50.

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.