Arista Networks, Inc. $ANET Shares Sold by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin reduced its stake in Arista by 43.5%, selling 112,768 shares and now holds 146,518 shares worth about $19.2M, while insiders have sold 199,632 shares (~$26.94M) over the past 90 days.
• Arista posted strong results, beating Q4 estimates with $0.82 EPS vs. $0.75 and $2.49B revenue (up 28.9% YoY), and analysts remain largely bullish with a consensus "Moderate Buy" and an average price target of $176.47.
• Institutional ownership is high at 82.47% and the company carries a market cap of about $145.6B with a P/E near 42, indicating concentrated ownership and elevated valuation levels.

J. Safra Sarasin Holding AG decreased its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 43.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 146,518 shares of the technology company's stock after selling 112,768 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Arista Networks were worth $19,198,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Global Trust Asset Management LLC increased its position in shares of Arista Networks by 33.0% during the 3rd quarter. Global Trust Asset Management LLC now owns 19,273 shares of the technology company's stock worth $2,808,000 after purchasing an additional 4,780 shares during the last quarter. Rakuten Investment Management Inc. acquired a new position in Arista Networks in the third quarter valued at about $8,263,000. National Wealth Management Group LLC acquired a new position in Arista Networks in the third quarter valued at about $1,296,000. Holocene Advisors LP purchased a new position in Arista Networks during the second quarter worth about $247,451,000. Finally, Three Seasons Wealth LLC purchased a new position in Arista Networks during the third quarter worth about $2,483,000. Hedge funds and other institutional investors own 82.47% of the company's stock.

Insider Buying and Selling

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $128.67, for a total value of $1,029,360.00. Following the sale, the director owned 1,784 shares of the company's stock, valued at $229,547.28. This trade represents a 81.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kenneth Duda sold 26,000 shares of Arista Networks stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $134.14, for a total value of $3,487,640.00. Following the completion of the transaction, the insider owned 502,400 shares of the company's stock, valued at $67,391,936. The trade was a 4.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 199,632 shares of company stock worth $26,936,324 over the last ninety days. Insiders own 3.54% of the company's stock.

Arista Networks Stock Performance

NYSE ANET opened at $115.86 on Tuesday. The firm has a market cap of $145.59 billion, a price-to-earnings ratio of 41.98, a PEG ratio of 2.14 and a beta of 1.46. The firm has a 50 day simple moving average of $135.21 and a 200-day simple moving average of $136.50. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $164.94.

Arista Networks (NYSE:ANET - Get Free Report) last released its earnings results on Thursday, February 12th. The technology company reported $0.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.07. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same period in the prior year, the business earned $0.66 EPS. The firm's quarterly revenue was up 28.9% on a year-over-year basis. Equities analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ANET shares. Needham & Company LLC boosted their price target on shares of Arista Networks from $165.00 to $185.00 and gave the company a "buy" rating in a research note on Friday, February 13th. Piper Sandler reaffirmed an "overweight" rating and set a $175.00 price objective (up from $159.00) on shares of Arista Networks in a research report on Friday, February 13th. TD Cowen started coverage on shares of Arista Networks in a report on Thursday, March 12th. They issued a "buy" rating and a $170.00 target price for the company. Wells Fargo & Company upped their price target on Arista Networks from $175.00 to $185.00 and gave the stock an "overweight" rating in a research note on Friday, February 13th. Finally, UBS Group set a $200.00 price target on Arista Networks in a research report on Tuesday, February 24th. Eighteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $176.47.

About Arista Networks

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista's offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista's product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company's hardware platforms.

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