Evergreen Private Wealth LLC Decreases Position in Arista Networks, Inc. $ANET

Key Points

• Evergreen Private Wealth LLC cut its position by 20.3% in Arista during Q4, selling 11,813 shares and now holding 46,506 shares worth about $6.09 million (roughly 2.4% of its portfolio and its 18th largest holding).
• Arista beat earnings and revenue estimates for the quarter (EPS $0.82 vs. $0.75 expected; revenue $2.49B vs. $2.38B expected, +28.9% year‑over‑year), and the stock is trading near its 12‑month high with analysts largely bullish (average price target ~$177.83, some up to $200).
• Heavy insider selling recently: insiders sold about 980,868 shares worth ~$154.7 million last quarter (insiders now own 3.39%), while institutional ownership remains high at ~82.5%.

Evergreen Private Wealth LLC cut its position in Arista Networks, Inc. (NYSE:ANET - Free Report) by 20.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 46,506 shares of the technology company's stock after selling 11,813 shares during the period. Arista Networks makes up about 2.4% of Evergreen Private Wealth LLC's investment portfolio, making the stock its 18th largest holding. Evergreen Private Wealth LLC's holdings in Arista Networks were worth $6,094,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ANET. Global Trust Asset Management LLC raised its holdings in shares of Arista Networks by 33.0% during the third quarter. Global Trust Asset Management LLC now owns 19,273 shares of the technology company's stock valued at $2,808,000 after purchasing an additional 4,780 shares during the last quarter. Rakuten Investment Management Inc. purchased a new position in shares of Arista Networks during the third quarter valued at approximately $8,263,000. National Wealth Management Group LLC purchased a new position in shares of Arista Networks during the third quarter valued at approximately $1,296,000. Three Seasons Wealth LLC purchased a new position in shares of Arista Networks during the third quarter valued at approximately $2,483,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Arista Networks by 38.3% during the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 662,139 shares of the technology company's stock valued at $96,480,000 after purchasing an additional 183,515 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Trading Up 2.9%

Shares of ANET stock opened at $177.89 on Thursday. Arista Networks, Inc. has a 12 month low of $70.36 and a 12 month high of $178.48. The stock has a market cap of $223.99 billion, a P/E ratio of 64.45, a P/E/G ratio of 3.04 and a beta of 1.48. The company has a 50 day simple moving average of $138.03 and a two-hundred day simple moving average of $136.88.

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 business had revenue of $2.49 billion during 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 firm's revenue was up 28.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.66 earnings per share. As a group, equities analysts forecast that Arista Networks, Inc. will post 3.17 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Chantelle Yvette Breithaupt sold 8,890 shares of the company's stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $155.02, for a total transaction of $1,378,127.80. Following the completion of the transaction, the chief financial officer owned 60,734 shares in the company, valued at approximately $9,414,984.68. This represents a 12.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kenneth Duda sold 32,000 shares of the company's stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $142.44, for a total transaction of $4,558,080.00. Following the transaction, the insider owned 12,976 shares of the company's stock, valued at approximately $1,848,301.44. This represents a 71.15% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 980,868 shares of company stock worth $154,661,490. 3.39% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Morgan Stanley reissued an "overweight" rating and set a $165.00 price objective on shares of Arista Networks in a report on Friday, February 13th. JPMorgan Chase & Co. upped their target price on shares of Arista Networks from $190.00 to $200.00 and gave the company an "overweight" rating in a report on Thursday, April 16th. Needham & Company LLC upped their target price on shares of Arista Networks from $165.00 to $185.00 and gave the company a "buy" rating in a report on Friday, February 13th. Piper Sandler reaffirmed an "overweight" rating and set a $175.00 target price (up from $159.00) on shares of Arista Networks in a report on Friday, February 13th. Finally, Zacks Research raised shares of Arista Networks from a "hold" rating to a "strong-buy" rating in a report on Monday, April 13th. Three analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $177.83.

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.

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