AlTi Global Inc. Sells 338 Shares of Arista Networks, Inc. (NYSE:ANET)

AlTi Global Inc. decreased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 6.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,598 shares of the technology company’s stock after selling 338 shares during the period. AlTi Global Inc.’s holdings in Arista Networks were worth $1,611,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Arista Networks by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock valued at $6,946,338,000 after buying an additional 1,596,040 shares in the last quarter. Capital World Investors grew its holdings in Arista Networks by 0.5% during the 4th quarter. Capital World Investors now owns 10,136,348 shares of the technology company’s stock valued at $2,387,211,000 after buying an additional 55,312 shares in the last quarter. WCM Investment Management LLC grew its holdings in Arista Networks by 0.8% during the 1st quarter. WCM Investment Management LLC now owns 3,049,416 shares of the technology company’s stock valued at $884,270,000 after buying an additional 25,196 shares in the last quarter. GQG Partners LLC purchased a new stake in Arista Networks during the 1st quarter valued at approximately $881,848,000. Finally, Swedbank AB purchased a new stake in Arista Networks during the 1st quarter valued at approximately $521,767,000. Institutional investors own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In other news, Director Kelly Bodnar Battles sold 372 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $356.74, for a total value of $132,707.28. Following the transaction, the director now directly owns 2,565 shares in the company, valued at $915,038.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Kelly Bodnar Battles sold 372 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $356.74, for a total value of $132,707.28. Following the transaction, the director now directly owns 2,565 shares in the company, valued at $915,038.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kenneth Duda sold 1,689 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $321.28, for a total transaction of $542,641.92. Following the completion of the transaction, the senior vice president now owns 182,600 shares in the company, valued at $58,665,728. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 82,361 shares of company stock worth $29,349,123. Insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

ANET has been the subject of a number of research analyst reports. Wells Fargo & Company increased their price objective on shares of Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. UBS Group raised their target price on shares of Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Barclays raised their target price on shares of Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Citigroup raised their target price on shares of Arista Networks from $330.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Finally, JPMorgan Chase & Co. raised their target price on shares of Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $363.25.

Arista Networks Stock Up 0.8 %

ANET stock opened at $388.16 on Thursday. Arista Networks, Inc. has a twelve month low of $168.25 and a twelve month high of $390.00. The stock has a market capitalization of $121.94 billion, a price-to-earnings ratio of 54.06, a price-to-earnings-growth ratio of 3.04 and a beta of 1.07. The firm’s fifty day simple moving average is $342.59 and its two-hundred day simple moving average is $318.42.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 business’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.41 earnings per share. As a group, equities research analysts expect that Arista Networks, Inc. will post 7.38 EPS 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.