Bfsg LLC Sells 7,165 Shares of Arista Networks, Inc. $ANET

Key Points

• Bfsg LLC cut its stake in Arista by 65.2%, selling 7,165 shares and leaving 3,822 shares worth $501,000 at the end of the quarter.
• Corporate insiders have sold 199,632 shares (about $26.9M) in the past three months — including director sales of 1,815 and 8,000 shares — while large institutions (MFS, Arrowstreet, Vanguard) materially increased holdings; institutional ownership stands at ~82.47%.
• Arista has a consensus analyst rating of "Moderate Buy" with a consensus price target of $176.44, and it recently beat quarterly EPS and revenue expectations with revenue up 28.9% year-over-year.

Bfsg LLC cut its holdings in Arista Networks, Inc. (NYSE:ANET - Free Report) by 65.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,822 shares of the technology company's stock after selling 7,165 shares during the period. Bfsg LLC's holdings in Arista Networks were worth $501,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ANET. Massachusetts Financial Services Co. MA increased its holdings in shares of Arista Networks by 2,829.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,721,156 shares of the technology company's stock worth $833,630,000 after buying an additional 5,525,828 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Arista Networks by 82.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 9,587,115 shares of the technology company's stock worth $1,396,939,000 after buying an additional 4,332,659 shares during the last quarter. Holocene Advisors LP bought a new stake in shares of Arista Networks in the 2nd quarter worth about $247,451,000. AQR Capital Management LLC increased its holdings in shares of Arista Networks by 13.2% in the 2nd quarter. AQR Capital Management LLC now owns 8,742,112 shares of the technology company's stock worth $892,919,000 after buying an additional 1,022,303 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Arista Networks by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 100,000,830 shares of the technology company's stock worth $14,571,121,000 after buying an additional 1,007,730 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Yvonne Wassenaar sold 1,815 shares of the company's stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $132.44, for a total value of $240,378.60. Following the completion of the sale, the director owned 12,574 shares of the company's stock, valued at approximately $1,665,300.56. This represents a 12.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the company's stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $140.43, for a total transaction of $1,123,440.00. Following the completion of the sale, the director directly owned 9,784 shares of the company's stock, valued at $1,373,967.12. The trade was a 44.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 199,632 shares of company stock worth $26,873,604 in the last three months. Corporate insiders own 3.39% of the company's stock.

Analyst Ratings Changes

ANET has been the topic of several analyst reports. KeyCorp reiterated an "overweight" rating and set a $178.00 price target (up from $170.00) on shares of Arista Networks in a report on Friday, February 13th. The Goldman Sachs Group reiterated a "buy" rating and set a $188.00 price target (up from $165.00) on shares of Arista Networks in a report on Friday, February 13th. Truist Financial initiated coverage on shares of Arista Networks in a report on Tuesday, March 31st. They set a "buy" rating and a $161.00 price target on the stock. TD Cowen initiated coverage on shares of Arista Networks in a report on Thursday, March 12th. They set a "buy" rating and a $170.00 price target on the stock. Finally, Piper Sandler reiterated an "overweight" rating and set a $175.00 price target (up from $159.00) on shares of Arista Networks in a report on Friday, February 13th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Arista Networks currently has a consensus rating of "Moderate Buy" and a consensus price target of $176.44.

Arista Networks Price Performance

Shares of ANET stock opened at $147.27 on Friday. The company has a market capitalization of $185.05 billion, a P/E ratio of 53.36, a P/E/G ratio of 2.58 and a beta of 1.48. The company's 50-day simple moving average is $133.97 and its two-hundred day simple moving average is $135.91. Arista Networks, Inc. has a one year low of $66.59 and a one year high of $164.94.

Arista Networks (NYSE:ANET - Get Free Report) last issued 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 the consensus estimate of $2.38 billion. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The company's revenue for the quarter was up 28.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 EPS. On average, research analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current fiscal 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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