Arista Networks, Inc. (NYSE:ANET) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC reduced its holdings in shares of Arista Networks, Inc. (NYSE:ANET - Free Report) by 15.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 324,729 shares of the technology company's stock after selling 60,654 shares during the quarter. Arista Networks accounts for 1.4% of Wedge Capital Management L L P NC's portfolio, making the stock its 12th biggest holding. Wedge Capital Management L L P NC owned about 0.10% of Arista Networks worth $76,477,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Rakuten Securities Inc. bought a new position in Arista Networks in the fourth quarter valued at about $35,000. Atticus Wealth Management LLC lifted its holdings in Arista Networks by 3,625.0% in the fourth quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company's stock valued at $35,000 after acquiring an additional 145 shares during the period. Larson Financial Group LLC bought a new position in Arista Networks in the third quarter valued at about $28,000. Sandy Spring Bank lifted its holdings in Arista Networks by 33.6% in the fourth quarter. Sandy Spring Bank now owns 155 shares of the technology company's stock valued at $37,000 after acquiring an additional 39 shares during the period. Finally, First Command Advisory Services Inc. bought a new position in Arista Networks in the third quarter valued at about $29,000. 82.47% of the stock is owned by institutional investors.

Insider Buying and Selling at Arista Networks

In other news, SVP Kenneth Duda sold 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total value of $5,801,000.00. Following the completion of the sale, the senior vice president now directly owns 3,244 shares of the company's stock, valued at approximately $940,922.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Kenneth Duda sold 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total value of $5,801,000.00. Following the completion of the sale, the senior vice president now directly owns 3,244 shares of the company's stock, valued at approximately $940,922.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jayshree Ullal sold 980 shares of the firm's stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $268.29, for a total value of $262,924.20. Following the completion of the sale, the chief executive officer now directly owns 73,051 shares of the company's stock, valued at $19,598,852.79. The disclosure for this sale can be found here. Insiders sold 334,227 shares of company stock worth $95,828,875 in the last quarter. 18.99% of the stock is owned by corporate insiders.

Arista Networks Stock Down 0.2 %

NYSE ANET traded down $0.56 during trading on Monday, hitting $245.53. 3,411,722 shares of the stock traded hands, compared to its average volume of 2,469,809. The company has a market capitalization of $76.76 billion, a P/E ratio of 37.37, a price-to-earnings-growth ratio of 2.10 and a beta of 1.09. The firm has a 50-day simple moving average of $279.58 and a 200-day simple moving average of $245.79. Arista Networks, Inc. has a 12-month low of $131.68 and a 12-month high of $307.74.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.38. The business had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The firm's revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.25 EPS. As a group, research analysts predict that Arista Networks, Inc. will post 6.7 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on ANET. Rosenblatt Securities reissued a "sell" rating and issued a $210.00 target price on shares of Arista Networks in a report on Friday, April 12th. JMP Securities restated a "market outperform" rating and issued a $325.00 price target on shares of Arista Networks in a research report on Tuesday, February 13th. Oppenheimer restated a "market perform" rating on shares of Arista Networks in a research report on Tuesday, February 13th. Morgan Stanley upped their price target on Arista Networks from $230.00 to $272.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 2nd. Finally, Wells Fargo & Company upped their price target on Arista Networks from $225.00 to $310.00 and gave the stock 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 assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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.