Dimensional Fund Advisors LP Sells 88,212 Shares of Arista Networks, Inc. $ANET

Key Points

• Dimensional Fund Advisors trimmed its Arista stake by 4.0%, selling 88,212 shares in the quarter and leaving 2,110,459 shares (about 0.17% of the company) valued at roughly $307.5 million.
• Insiders have been net sellers recently — Kenneth Duda sold 26,000 shares on Feb. 17, and insiders sold a total of 196,237 shares worth $25.9 million over the past 90 days, leaving insiders with about 3.39% ownership.
• Arista beat expectations for the quarter with $0.82 EPS vs. $0.75 expected and $2.49B revenue vs. $2.38B expected (revenue +28.9% YoY), and analysts hold a "Moderate Buy" consensus with an average target near $176.88.

Dimensional Fund Advisors LP lowered its stake in Arista Networks, Inc. (NYSE:ANET - Free Report) by 4.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,110,459 shares of the technology company's stock after selling 88,212 shares during the quarter. Dimensional Fund Advisors LP owned 0.17% of Arista Networks worth $307,465,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bare Financial Services Inc raised its holdings in Arista Networks by 2,118.2% during the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company's stock valued at $25,000 after buying an additional 233 shares during the last quarter. AdvisorNet Financial Inc grew its holdings in Arista Networks by 56.7% in the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company's stock worth $29,000 after acquiring an additional 72 shares during the last quarter. Richardson Financial Services Inc. increased its position in shares of Arista Networks by 141.3% in the third quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company's stock valued at $32,000 after acquiring an additional 130 shares during the period. SJS Investment Consulting Inc. increased its position in shares of Arista Networks by 979.2% in the third quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company's stock valued at $38,000 after acquiring an additional 235 shares during the period. Finally, Guerra Advisors Inc bought a new position in shares of Arista Networks during the third quarter valued at about $41,000. Hedge funds and other institutional investors own 82.47% of the company's stock.

Insider Buying and Selling at Arista Networks

In related news, insider Kenneth Duda sold 26,000 shares of the company's stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $142.35, for a total value of $3,701,100.00. Following the sale, the insider owned 512,400 shares in the company, valued at $72,940,140. This represents a 4.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Yvonne Wassenaar sold 1,815 shares of the firm'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 transaction, the director directly owned 12,574 shares of the company's stock, valued at approximately $1,665,300.56. This trade represents a 12.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 196,237 shares of company stock worth $25,865,760 in the last ninety days. 3.39% of the stock is owned by company insiders.

Arista Networks Trading Up 3.2%

ANET opened at $139.16 on Friday. The company has a market cap of $174.86 billion, a price-to-earnings ratio of 50.42, a price-to-earnings-growth ratio of 2.39 and a beta of 1.46. The stock has a fifty day simple moving average of $134.43 and a two-hundred day simple moving average of $137.19. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $164.94.

Arista Networks (NYSE:ANET - Get Free Report) last announced its earnings results on Thursday, February 12th. The technology company reported $0.82 EPS for the quarter, beating analysts' consensus estimates of $0.75 by $0.07. The firm 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 company's quarterly revenue was up 28.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.66 EPS. On average, analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analysts Set New Price Targets

ANET has been the topic of several recent analyst reports. Evercore reissued an "outperform" rating and issued a $200.00 target price on shares of Arista Networks in a research note on Friday, February 13th. KeyCorp reiterated an "overweight" rating and issued a $178.00 price objective (up from $170.00) on shares of Arista Networks in a research report on Friday, February 13th. Barclays restated an "overweight" rating and set a $184.00 target price (up from $183.00) on shares of Arista Networks in a report on Friday, February 13th. Piper Sandler reiterated an "overweight" rating and issued a $175.00 price target (up from $159.00) on shares of Arista Networks in a report on Friday, February 13th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Arista Networks in a research report on Monday, December 29th. Seventeen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $176.88.

Arista Networks Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.