SVB Wealth LLC Sells 1,251 Shares of Arista Networks, Inc. (NYSE:ANET)

SVB Wealth LLC cut its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 10.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,290 shares of the technology company’s stock after selling 1,251 shares during the quarter. SVB Wealth LLC’s holdings in Arista Networks were worth $2,659,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Larson Financial Group LLC acquired a new stake in Arista Networks in the 3rd quarter valued at $28,000. First Command Advisory Services Inc. acquired a new position in shares of Arista Networks during the third quarter valued at about $29,000. Hollencrest Capital Management bought a new stake in shares of Arista Networks during the first quarter worth about $30,000. BluePath Capital Management LLC acquired a new stake in shares of Arista Networks in the 3rd quarter worth about $33,000. Finally, NBC Securities Inc. bought a new position in Arista Networks in the 3rd quarter valued at about $33,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Arista Networks

In other news, Director Yvonne Wassenaar sold 186 shares of Arista Networks stock in a transaction on Friday, January 19th. The stock was sold at an average price of $261.41, for a total value of $48,622.26. Following the completion of the transaction, the director now directly owns 2,678 shares in the company, valued at $700,055.98. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $290.05, for a total value of $5,801,000.00. Following the completion of the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $940,922.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Yvonne Wassenaar sold 186 shares of the company’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $261.41, for a total transaction of $48,622.26. Following the completion of the transaction, the director now directly owns 2,678 shares in the company, valued at approximately $700,055.98. The disclosure for this sale can be found here. Insiders have sold 342,415 shares of company stock valued at $98,017,152 in the last 90 days. 18.99% of the stock is currently owned by company insiders.

Arista Networks Stock Performance

ANET stock opened at $259.42 on Thursday. Arista Networks, Inc. has a fifty-two week low of $131.68 and a fifty-two week high of $307.74. The stock has a fifty day moving average of $281.39 and a 200-day moving average of $244.06. The company has a market capitalization of $81.10 billion, a price-to-earnings ratio of 39.49, a PEG ratio of 2.26 and a beta of 1.09.

Arista Networks (NYSE:ANET) last posted its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.38. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The company’s revenue was up 20.8% on a year-over-year basis. During the same quarter last year, the company earned $1.25 earnings per share. Equities analysts predict that Arista Networks, Inc. will post 6.67 EPS for the current year.

Analyst Upgrades and Downgrades

ANET has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Rosenblatt Securities reissued a “sell” rating and issued a $210.00 price target on shares of Arista Networks in a research report on Friday, April 12th. Barclays raised 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. JMP Securities reiterated a “market outperform” rating and issued a $325.00 target price on shares of Arista Networks in a research note on Tuesday, February 13th. Finally, Evercore ISI reissued an “outperform” rating and set a $300.00 price target on shares of Arista Networks in a research report on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.