Ossiam Sells 33,227 Shares of Arista Networks, Inc. (NYSE:ANET)

Ossiam lessened its stake in Arista Networks, Inc. (NYSE:ANET) by 35.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,726 shares of the technology company’s stock after selling 33,227 shares during the period. Ossiam’s holdings in Arista Networks were worth $6,712,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Morse Asset Management Inc bought a new stake in shares of Arista Networks during the third quarter valued at approximately $123,000. Virtu Financial LLC purchased a new position in Arista Networks during the 3rd quarter worth $1,752,000. World Investment Advisors LLC bought a new stake in Arista Networks during the 3rd quarter valued at $401,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Arista Networks in the 3rd quarter worth $2,222,000. Finally, Tidal Investments LLC grew its position in shares of Arista Networks by 5.6% during the 3rd quarter. Tidal Investments LLC now owns 37,383 shares of the technology company’s stock worth $14,348,000 after buying an additional 1,998 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In other news, SVP Marc Taxay sold 51,848 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $88.59, for a total value of $4,593,214.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jayshree Ullal sold 138,351 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the completion of the sale, the chief executive officer now directly owns 92,641 shares in the company, valued at approximately $8,697,137.08. The trade was a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 411,031 shares of company stock worth $39,364,943. 3.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ANET shares. Citigroup decreased their price objective on Arista Networks from $121.00 to $92.00 and set a “buy” rating for the company in a report on Monday, April 14th. Piper Sandler dropped their price objective on shares of Arista Networks from $108.00 to $76.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. The Goldman Sachs Group reissued a “buy” rating on shares of Arista Networks in a report on Monday, March 3rd. Morgan Stanley lowered their target price on Arista Networks from $118.00 to $73.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. cut their price target on Arista Networks from $140.00 to $110.00 and set an “overweight” rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and an average price target of $106.07.

Arista Networks Stock Performance

Shares of NYSE ANET opened at $71.11 on Friday. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $133.58. The company has a market cap of $89.67 billion, a PE ratio of 32.03, a P/E/G ratio of 3.10 and a beta of 1.30. The business has a 50-day simple moving average of $84.23 and a two-hundred day simple moving average of $99.29.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. On average, sell-side analysts predict 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.