Spearhead Capital Advisors LLC Reduces Stock Position in Arista Networks Inc (NYSE:ANET)

Spearhead Capital Advisors LLC lowered its stake in shares of Arista Networks Inc (NYSE:ANET) by 17.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,040 shares of the technology company’s stock after selling 219 shares during the period. Spearhead Capital Advisors LLC’s holdings in Arista Networks were worth $212,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Parnassus Investments CA purchased a new stake in shares of Arista Networks in the third quarter worth $65,990,000. BlackRock Inc. raised its position in shares of Arista Networks by 4.7% in the second quarter. BlackRock Inc. now owns 3,904,300 shares of the technology company’s stock worth $1,013,633,000 after buying an additional 174,887 shares in the last quarter. Montag & Caldwell LLC raised its position in shares of Arista Networks by 159.4% in the third quarter. Montag & Caldwell LLC now owns 204,280 shares of the technology company’s stock worth $48,806,000 after buying an additional 125,516 shares in the last quarter. First Trust Advisors LP raised its position in shares of Arista Networks by 12.4% in the fourth quarter. First Trust Advisors LP now owns 980,387 shares of the technology company’s stock worth $199,411,000 after buying an additional 107,988 shares in the last quarter. Finally, State Street Corp raised its position in shares of Arista Networks by 2.3% in the third quarter. State Street Corp now owns 2,123,287 shares of the technology company’s stock worth $507,296,000 after buying an additional 48,455 shares in the last quarter. Hedge funds and other institutional investors own 59.60% of the company’s stock.

In other news, SVP Marc Taxay sold 5,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $192.51, for a total transaction of $962,550.00. Following the transaction, the senior vice president now directly owns 11,365 shares of the company’s stock, valued at $2,187,876.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nikos Theodosopoulos sold 1,360 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $200.09, for a total value of $272,122.40. Following the transaction, the director now directly owns 4,957 shares in the company, valued at $991,846.13. The disclosure for this sale can be found here. Insiders have sold 50,648 shares of company stock worth $10,645,433 in the last 90 days. Company insiders own 23.83% of the company’s stock.

A number of brokerages recently issued reports on ANET. Citigroup upgraded Arista Networks to a “buy” rating and lowered their price objective for the stock from $315.00 to $225.00 in a research report on Friday, November 1st. Piper Jaffray Companies lowered their price objective on Arista Networks from $272.00 to $213.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Goldman Sachs Group downgraded Arista Networks from a “conviction-buy” rating to a “buy” rating and lowered their price objective for the stock from $290.00 to $245.00 in a research report on Friday, November 1st. Morgan Stanley increased their price objective on Arista Networks from $195.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Wolfe Research lowered their price objective on Arista Networks from $270.00 to $200.00 and set a “peer perform” rating on the stock in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $230.08.

NYSE ANET traded down $14.15 during trading hours on Friday, reaching $223.47. 2,113,736 shares of the stock traded hands, compared to its average volume of 763,330. The stock has a 50 day simple moving average of $219.42 and a two-hundred day simple moving average of $221.05. Arista Networks Inc has a 1 year low of $173.31 and a 1 year high of $331.27. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.91 and a quick ratio of 5.47. The company has a market cap of $17.76 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 1.96 and a beta of 1.52.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Thursday, February 13th. The technology company reported $2.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.83 by $0.46. Arista Networks had a return on equity of 28.94% and a net margin of 32.68%. The business had revenue of $552.55 million for the quarter, compared to the consensus estimate of $550.63 million. During the same quarter last year, the business posted $2.25 earnings per share. On average, sell-side analysts forecast that Arista Networks Inc will post 8.56 EPS for the current fiscal year.

Arista Networks Profile

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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