Evergreen Private Wealth LLC Sells 11,813 Shares of Arista Networks, Inc. $ANET

Evergreen Private Wealth LLC lowered its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 20.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,506 shares of the technology company’s stock after selling 11,813 shares during the quarter. Arista Networks accounts for about 2.4% of Evergreen Private Wealth LLC’s portfolio, making the stock its 18th largest position. Evergreen Private Wealth LLC’s holdings in Arista Networks were worth $6,094,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ANET. Massachusetts Financial Services Co. MA raised its stake in shares of Arista Networks by 2,829.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,721,156 shares of the technology company’s stock valued at $833,630,000 after acquiring an additional 5,525,828 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Arista Networks by 82.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 9,587,115 shares of the technology company’s stock valued at $1,396,939,000 after purchasing an additional 4,332,659 shares in the last quarter. M&T Bank Corp boosted its stake in shares of Arista Networks by 3,182.7% during the fourth quarter. M&T Bank Corp now owns 4,012,373 shares of the technology company’s stock valued at $525,741,000 after purchasing an additional 3,890,146 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Arista Networks by 1.0% during the third quarter. Vanguard Group Inc. now owns 100,000,830 shares of the technology company’s stock valued at $14,571,121,000 after purchasing an additional 1,007,730 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of Arista Networks by 28.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 3,946,087 shares of the technology company’s stock valued at $574,984,000 after buying an additional 878,023 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling

In other Arista Networks news, CFO Chantelle Yvette Breithaupt sold 8,890 shares of the firm’s stock in a transaction that occurred 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 directly owned 60,734 shares of the company’s stock, valued at approximately $9,414,984.68. This trade represents a 12.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Yvonne Wassenaar sold 1,395 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $153.07, for a total transaction of $213,532.65. Following the transaction, the director directly owned 9,784 shares of the company’s stock, valued at $1,497,636.88. This represents a 12.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 980,868 shares of company stock worth $154,661,490 over the last ninety days. Company insiders own 3.39% of the company’s stock.

Arista Networks Stock Up 2.9%

ANET stock opened at $177.89 on Thursday. The firm has a 50 day moving average of $138.03 and a 200 day moving average of $136.88. The stock has a market capitalization of $223.99 billion, a PE ratio of 64.45, a price-to-earnings-growth ratio of 3.04 and a beta of 1.48. Arista Networks, Inc. has a 52 week low of $70.36 and a 52 week high of $178.48.

Arista Networks (NYSE:ANET) last released 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 company 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%. Arista Networks’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same period last year, the business earned $0.66 EPS. On average, equities research analysts expect that Arista Networks, Inc. will post 3.17 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Rosenblatt Securities upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and raised their price target for the company from $165.00 to $180.00 in a report on Tuesday, April 7th. Susquehanna upgraded shares of Arista Networks to a “strong-buy” rating in a report on Wednesday, April 1st. KeyCorp restated an “overweight” rating and issued a $178.00 price target (up from $170.00) on shares of Arista Networks in a report on Friday, February 13th. TD Cowen initiated coverage on shares of Arista Networks in a research note on Thursday, March 12th. They issued a “buy” rating and a $170.00 target price for the company. Finally, Truist Financial initiated coverage on shares of Arista Networks in a research note on Tuesday, March 31st. They issued a “buy” rating and a $161.00 target price for the company. Three analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $177.83.

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.