Generate Investment Management Ltd Trims Position in Arista Networks, Inc. $ANET

Generate Investment Management Ltd lowered its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 60.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,119 shares of the technology company’s stock after selling 56,652 shares during the quarter. Generate Investment Management Ltd’s holdings in Arista Networks were worth $5,409,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ANET. Bare Financial Services Inc grew its stake in shares of Arista Networks by 2,118.2% in the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after purchasing an additional 233 shares during the last quarter. AdvisorNet Financial Inc raised its stake in shares of Arista Networks by 56.7% during the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after purchasing an additional 72 shares during the last quarter. REAP Financial Group LLC lifted its holdings in shares of Arista Networks by 108.0% during the second quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock worth $34,000 after purchasing an additional 175 shares during the period. eCIO Inc. purchased a new position in Arista Networks in the 1st quarter valued at $36,000. Finally, Solstein Capital LLC increased its stake in Arista Networks by 493.8% in the 2nd quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock valued at $39,000 after buying an additional 316 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Price Performance

NYSE ANET opened at $132.42 on Wednesday. The business has a 50 day moving average price of $134.49 and a 200 day moving average price of $129.99. The company has a market capitalization of $166.75 billion, a P/E ratio of 50.35, a PEG ratio of 2.57 and a beta of 1.41. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $164.94.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.03. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the company earned $2.40 earnings per share. Arista Networks’s revenue was up 27.5% compared to the same quarter last year. On average, research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ANET has been the subject of several recent analyst reports. Barclays restated an “overweight” rating and issued a $183.00 target price (up previously from $179.00) on shares of Arista Networks in a research note on Wednesday, November 5th. JPMorgan Chase & Co. raised their price objective on shares of Arista Networks from $150.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Morgan Stanley dropped their target price on Arista Networks from $171.00 to $159.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 17th. UBS Group reissued a “buy” rating and set a $155.00 target price on shares of Arista Networks in a research note on Wednesday, December 3rd. Finally, Zacks Research downgraded Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Seventeen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $163.56.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 24,042 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total value of $2,994,431.10. Following the sale, the chief executive officer owned 9,917 shares of the company’s stock, valued at $1,235,162.35. This represents a 70.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kelly Bodnar Battles sold 422 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $117.15, for a total transaction of $49,437.30. Following the transaction, the director directly owned 8,980 shares of the company’s stock, valued at approximately $1,052,007. This trade represents a 4.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 208,464 shares of company stock valued at $27,418,668. Insiders own 3.54% of the company’s stock.

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.