Liontrust Investment Partners LLP Has $5.82 Million Stake in Arista Networks, Inc. $ANET

Liontrust Investment Partners LLP lowered its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 75.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,879 shares of the technology company’s stock after selling 171,383 shares during the period. Liontrust Investment Partners LLP’s holdings in Arista Networks were worth $5,819,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ANET. Stablepoint Partners LLC increased its stake in Arista Networks by 0.8% in the second quarter. Stablepoint Partners LLC now owns 9,406 shares of the technology company’s stock valued at $962,000 after acquiring an additional 77 shares during the period. Glenview Trust co grew its stake in shares of Arista Networks by 2.5% in the 2nd quarter. Glenview Trust co now owns 3,502 shares of the technology company’s stock valued at $358,000 after purchasing an additional 84 shares during the period. Telos Capital Management Inc. grew its stake in shares of Arista Networks by 1.0% in the 2nd quarter. Telos Capital Management Inc. now owns 9,260 shares of the technology company’s stock valued at $947,000 after purchasing an additional 88 shares during the period. Wealthcare Advisory Partners LLC raised its holdings in shares of Arista Networks by 1.6% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 6,038 shares of the technology company’s stock worth $618,000 after buying an additional 95 shares in the last quarter. Finally, Putney Financial Group LLC lifted its position in shares of Arista Networks by 0.7% during the 2nd quarter. Putney Financial Group LLC now owns 14,139 shares of the technology company’s stock worth $1,447,000 after buying an additional 95 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $128.09, for a total value of $1,024,720.00. Following the transaction, the director owned 25,784 shares in the company, valued at $3,302,672.56. This trade represents a 23.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jayshree Ullal sold 24,042 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total value of $2,994,431.10. Following the sale, the chief executive officer directly 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 SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 274,464 shares of company stock worth $38,250,488. Insiders own 3.54% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on ANET shares. Wells Fargo & Company upped their price target on Arista Networks from $150.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. BNP Paribas upgraded shares of Arista Networks from a “hold” rating to an “outperform” rating in a research report on Thursday, September 25th. Piper Sandler restated a “neutral” rating and issued a $145.00 price target (up from $143.00) on shares of Arista Networks in a research report on Wednesday, November 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Arista Networks in a report on Monday, December 8th. Finally, The Goldman Sachs Group lifted their target price on shares of Arista Networks from $155.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Eighteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $164.31.

Arista Networks Trading Down 7.1%

Shares of ANET stock opened at $124.83 on Monday. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $164.94. The firm’s 50 day moving average is $138.96 and its 200-day moving average is $126.92. The firm has a market capitalization of $157.20 billion, a price-to-earnings ratio of 47.46, a PEG ratio of 2.39 and a beta of 1.41.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter in the previous year, the company posted $2.40 EPS. Arista Networks’s revenue was up 27.5% on a year-over-year basis. On average, equities research analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

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.