Sumitomo Mitsui Trust Holdings Inc. Decreases Stock Position in Arista Networks, Inc. (NYSE:ANET)

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in shares of Arista Networks, Inc. (NYSE:ANET) by 0.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 628,729 shares of the technology company’s stock after selling 3,645 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Arista Networks were worth $148,072,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ANET. Larson Financial Group LLC purchased a new position in shares of Arista Networks during the third quarter worth approximately $28,000. First Command Advisory Services Inc. purchased a new position in Arista Networks during the 3rd quarter worth $29,000. Hollencrest Capital Management bought a new stake in Arista Networks during the 1st quarter valued at $30,000. BluePath Capital Management LLC bought a new position in shares of Arista Networks during the 3rd quarter worth $33,000. Finally, NBC Securities Inc. purchased a new stake in Arista Networks during the third quarter valued at approximately $33,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Down 3.0 %

Shares of NYSE:ANET opened at $263.20 on Tuesday. Arista Networks, Inc. has a 52-week low of $131.68 and a 52-week high of $307.74. The stock has a market cap of $82.28 billion, a P/E ratio of 40.06, a PEG ratio of 2.34 and a beta of 1.09. The business has a fifty day moving average of $281.58 and a two-hundred day moving average of $243.39.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the firm posted $1.25 earnings per share. Arista Networks’s quarterly revenue was up 20.8% on a year-over-year basis. On average, equities analysts anticipate that Arista Networks, Inc. will post 6.63 earnings per share for the current year.

Insider Activity at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $284.31, for a total transaction of $5,686,200.00. Following the completion of the sale, the senior vice president now owns 3,244 shares of the company’s stock, valued at $922,301.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Jayshree Ullal sold 22,000 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $303.00, for a total transaction of $6,666,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,665,300 shares in the company, valued at $504,585,900. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $284.31, for a total value of $5,686,200.00. Following the completion of the sale, the senior vice president now owns 3,244 shares in the company, valued at approximately $922,301.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 361,036 shares of company stock worth $102,813,921. Insiders own 18.99% of the company’s stock.

Wall Street Analyst Weigh In

ANET has been the subject of several analyst reports. The Goldman Sachs Group increased their price objective on Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Barclays lifted their price objective on Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. Morgan Stanley raised their target price on Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Melius upgraded Arista Networks from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Finally, Melius Research raised shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a report on Monday, January 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.