Arista Networks, Inc. $ANET Shares Sold by WINTON GROUP Ltd

Key Points

• WINTON GROUP Ltd reduced its Arista stake by 23.3%, selling 21,023 shares and now holds 69,396 shares valued at about $10.1 million.
• Significant insider selling: insiders disposed of 196,237 shares worth roughly $25.9 million last quarter, including Kenneth Duda (32,000 shares, ~$4.56M) and director Charles H. Giancarlo (8,000 shares, ~$1.12M).
• Analysts lifted targets after strong results: Arista beat quarterly EPS and revenue, several firms raised price targets, and the consensus rating is a "Moderate Buy" with a $176.88 target while the stock trades around $133 (market cap ≈ $167B).

WINTON GROUP Ltd lowered its stake in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 23.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,396 shares of the technology company's stock after selling 21,023 shares during the period. WINTON GROUP Ltd's holdings in Arista Networks were worth $10,112,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Brighton Jones LLC boosted its holdings in Arista Networks by 321.7% in the fourth quarter. Brighton Jones LLC now owns 7,806 shares of the technology company's stock valued at $863,000 after acquiring an additional 5,955 shares during the last quarter. Revolve Wealth Partners LLC acquired a new stake in Arista Networks during the fourth quarter worth about $202,000. Bison Wealth LLC acquired a new stake in Arista Networks during the fourth quarter worth about $251,000. Sivia Capital Partners LLC raised its holdings in shares of Arista Networks by 48.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 10,723 shares of the technology company's stock worth $1,097,000 after purchasing an additional 3,496 shares during the period. Finally, Modera Wealth Management LLC lifted its stake in shares of Arista Networks by 2.1% in the 2nd quarter. Modera Wealth Management LLC now owns 7,273 shares of the technology company's stock valued at $744,000 after purchasing an additional 153 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company's stock.

Insiders Place Their Bets

In other Arista Networks news, insider Kenneth Duda sold 32,000 shares of the company's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $142.44, for a total value of $4,558,080.00. Following the completion of the transaction, the insider directly owned 12,976 shares of the company's stock, valued at $1,848,301.44. This represents a 71.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm's stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $140.43, for a total value of $1,123,440.00. Following the sale, the director owned 9,784 shares of the company's stock, valued at $1,373,967.12. This represents a 44.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 196,237 shares of company stock worth $25,865,760 in the last quarter. 3.54% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ANET has been the subject of a number of research analyst reports. Rosenblatt Securities increased their target price on shares of Arista Networks from $140.00 to $165.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 10th. Piper Sandler reaffirmed an "overweight" rating and set a $175.00 price target (up from $159.00) on shares of Arista Networks in a research report on Friday, February 13th. Wells Fargo & Company increased their price objective on shares of Arista Networks from $175.00 to $185.00 and gave the stock an "overweight" rating in a research report on Friday, February 13th. Erste Group Bank downgraded shares of Arista Networks from a "buy" rating to a "hold" rating in a research note on Monday, November 10th. Finally, UBS Group set a $200.00 target price on shares of Arista Networks in a report on Tuesday, February 24th. Seventeen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $176.88.

Arista Networks Stock Down 4.5%

Shares of NYSE:ANET opened at $133.15 on Monday. Arista Networks, Inc. has a 52-week low of $59.43 and a 52-week high of $164.94. The company has a 50 day moving average of $134.45 and a two-hundred day moving average of $137.23. The company has a market capitalization of $167.31 billion, a price-to-earnings ratio of 48.24, a price-to-earnings-growth ratio of 2.36 and a beta of 1.46.

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

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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