Federated Hermes Inc. Sells 6,214 Shares of Arista Networks, Inc. (NYSE:ANET)

Federated Hermes Inc. decreased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 292,811 shares of the technology company’s stock after selling 6,214 shares during the quarter. Federated Hermes Inc. owned 0.09% of Arista Networks worth $68,960,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cibc World Market Inc. increased its holdings in Arista Networks by 135.9% in the 1st quarter. Cibc World Market Inc. now owns 34,026 shares of the technology company’s stock worth $4,729,000 after purchasing an additional 19,602 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Arista Networks by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,261,171 shares of the technology company’s stock valued at $175,274,000 after buying an additional 19,738 shares during the last quarter. Prudential PLC acquired a new stake in Arista Networks during the 1st quarter worth approximately $676,000. Sequoia Financial Advisors LLC bought a new stake in Arista Networks during the 1st quarter worth approximately $224,000. Finally, Vanguard Group Inc. raised its stake in shares of Arista Networks by 1.4% during the first quarter. Vanguard Group Inc. now owns 25,268,588 shares of the technology company’s stock valued at $3,511,828,000 after acquiring an additional 353,253 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on ANET. Wells Fargo & Company raised their price target on shares of Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Rosenblatt Securities restated a “sell” rating and set a $210.00 price objective on shares of Arista Networks in a report on Friday, April 12th. Evercore ISI reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Arista Networks in a research report on Wednesday, March 27th. The Goldman Sachs Group raised their price target on shares of Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $320.00 price objective on shares of Arista Networks in a research report on Tuesday, February 13th. 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. According to data from MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and an average price target of $275.59.

Insider Transactions at Arista Networks

In related news, 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 transaction of $573,040.00. Following the sale, the director now owns 60,946 shares of the company’s stock, valued at approximately $17,462,247.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related 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 completion of the transaction, the director now directly owns 60,946 shares in the company, valued at $17,462,247.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Yvonne Wassenaar sold 224 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total value of $57,184.96. Following the completion of the transaction, the director now owns 2,827 shares in the company, valued at $721,704.83. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 342,229 shares of company stock valued at $97,968,530. 18.99% of the stock is currently owned by corporate insiders.

Arista Networks Price Performance

NYSE:ANET opened at $257.30 on Friday. Arista Networks, Inc. has a 1 year low of $131.68 and a 1 year high of $307.74. The stock’s fifty day moving average price is $281.02 and its two-hundred day moving average price is $244.15. The company has a market cap of $80.44 billion, a P/E ratio of 39.16, a P/E/G ratio of 2.21 and a beta of 1.09.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The firm’s quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.25 EPS. On average, analysts expect that Arista Networks, Inc. will post 6.7 earnings per share for the current fiscal year.

Arista Networks Company 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.