Bank Julius Baer & Co. Ltd Zurich Sells 54 Shares of Arista Networks, Inc. (NYSE:ANET)

Bank Julius Baer & Co. Ltd Zurich cut its stake in Arista Networks, Inc. (NYSE:ANET) by 3.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,344 shares of the technology company’s stock after selling 54 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Arista Networks were worth $317,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Larson Financial Group LLC bought a new stake in Arista Networks in the third quarter worth $28,000. First Command Advisory Services Inc. bought a new stake in Arista Networks in the third quarter worth $29,000. BluePath Capital Management LLC bought a new stake in shares of Arista Networks during the third quarter worth $33,000. NBC Securities Inc. bought a new stake in shares of Arista Networks during the third quarter worth $33,000. Finally, Atticus Wealth Management LLC lifted its position in shares of Arista Networks by 3,625.0% during the fourth quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock worth $35,000 after purchasing an additional 145 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ANET. JPMorgan Chase & Co. lifted their target price on Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. KeyCorp lifted their target price on Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a research report on Thursday, January 18th. Wells Fargo & Company lifted their target price on Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Oppenheimer reiterated a “market perform” rating on shares of Arista Networks in a research report on Tuesday, February 13th. Finally, Rosenblatt Securities restated a “sell” rating and issued a $210.00 price objective on shares of Arista Networks in a report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $275.59.

Insider Transactions at Arista Networks

In other news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $286.52, for a total transaction of $573,040.00. Following the sale, the director now owns 60,946 shares in the company, valued at $17,462,247.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Jayshree Ullal sold 87,418 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $278.81, for a total value of $24,373,012.58. Following the sale, the chief executive officer now owns 17,681 shares in the company, valued at $4,929,639.61. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $286.52, for a total value of $573,040.00. Following the completion of the sale, the director now owns 60,946 shares in the company, valued at approximately $17,462,247.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 333,494 shares of company stock worth $95,632,321. Insiders own 18.99% of the company’s stock.

Arista Networks Price Performance

ANET opened at $264.70 on Friday. The business’s 50-day moving average is $279.09 and its two-hundred day moving average is $247.22. Arista Networks, Inc. has a 1 year low of $131.68 and a 1 year high of $307.74. The firm has a market capitalization of $83.01 billion, a PE ratio of 40.29, a price-to-earnings-growth 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 (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the firm earned $1.25 earnings per share. The firm’s quarterly revenue was up 20.8% compared to the same quarter last year. As a group, sell-side analysts expect that Arista Networks, Inc. will post 6.7 EPS for the current 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.