Harel Insurance Investments & Financial Services Ltd. Has $1.51 Million Position in Arista Networks, Inc. (NYSE:ANET)

Harel Insurance Investments & Financial Services Ltd. reduced its position in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 52.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,386 shares of the technology company's stock after selling 7,171 shares during the period. Harel Insurance Investments & Financial Services Ltd.'s holdings in Arista Networks were worth $1,513,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ANET. Larson Financial Group LLC bought a new stake in Arista Networks in the third quarter valued at approximately $28,000. First Command Advisory Services Inc. acquired a new position in Arista Networks in the third quarter valued at approximately $29,000. Hollencrest Capital Management acquired a new position in Arista Networks in the first quarter valued at approximately $30,000. BluePath Capital Management LLC acquired a new position in Arista Networks in the third quarter valued at approximately $33,000. Finally, NBC Securities Inc. acquired a new position in Arista Networks in the third quarter valued at approximately $33,000. 82.47% of the stock is currently owned by institutional investors.

Insider Activity at Arista Networks

In related news, Director Yvonne Wassenaar sold 186 shares of Arista Networks stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $261.41, for a total transaction of $48,622.26. Following the sale, the director now directly owns 2,678 shares in the company, valued at $700,055.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Kelly Bodnar Battles sold 278 shares of the business's stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $265.81, for a total value of $73,895.18. Following the completion of the transaction, the director now owns 2,553 shares in the company, valued at $678,612.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Yvonne Wassenaar sold 186 shares of the business's stock in a transaction on Friday, January 19th. The stock was sold at an average price of $261.41, for a total value of $48,622.26. Following the completion of the transaction, the director now owns 2,678 shares of the company's stock, valued at approximately $700,055.98. The disclosure for this sale can be found here. Insiders have sold 361,036 shares of company stock worth $102,813,921 over the last ninety days. 18.99% of the stock is owned by corporate insiders.

Arista Networks Stock Down 3.0 %

Shares of NYSE ANET traded down $8.02 during trading hours on Monday, reaching $263.20. 4,045,239 shares of the stock traded hands, compared to its average volume of 2,459,709. The company has a market capitalization of $82.28 billion, a P/E ratio of 41.36, a price-to-earnings-growth ratio of 2.34 and a beta of 1.09. Arista Networks, Inc. has a 52-week low of $131.68 and a 52-week high of $307.74. The company's 50-day simple moving average is $281.78 and its two-hundred day simple moving average is $242.84.

Arista Networks (NYSE:ANET - Get Free Report) last announced its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, beating analysts' consensus estimates of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The company had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.53 billion. During the same period last year, the firm posted $1.25 EPS. Arista Networks's revenue for the quarter was up 20.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Arista Networks, Inc. will post 6.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ANET shares. Evercore ISI reaffirmed an "outperform" rating and set a $300.00 target price on shares of Arista Networks in a research report on Wednesday, March 27th. Melius raised Arista Networks from a "hold" rating to a "buy" rating in a research report on Monday, January 8th. Rosenblatt Securities reissued a "sell" rating and issued a $210.00 price target on shares of Arista Networks in a research report on Friday. Piper Sandler increased their price target on Arista Networks from $254.00 to $268.00 and gave the company a "neutral" rating in a research report on Tuesday, February 13th. Finally, Wells Fargo & Company increased their price target on Arista Networks from $225.00 to $310.00 and gave the company an "overweight" rating in a research report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Arista Networks has an average rating of "Moderate Buy" and an average target price of $275.59.

Arista Networks Profile

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.