Yousif Capital Management LLC Trims Position in Arista Networks, Inc. (NYSE:ANET)

Yousif Capital Management LLC reduced its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,415 shares of the technology company’s stock after selling 113 shares during the quarter. Yousif Capital Management LLC’s holdings in Arista Networks were worth $9,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Flagship Harbor Advisors LLC bought a new stake in shares of Arista Networks during the third quarter worth $204,000. DAVENPORT & Co LLC boosted its position in Arista Networks by 6.1% in the 3rd quarter. DAVENPORT & Co LLC now owns 6,179 shares of the technology company’s stock valued at $1,137,000 after buying an additional 354 shares during the period. Exchange Traded Concepts LLC boosted its holdings in shares of Arista Networks by 74.7% in the third quarter. Exchange Traded Concepts LLC now owns 14,070 shares of the technology company’s stock valued at $2,588,000 after purchasing an additional 6,014 shares during the period. Caprock Group LLC boosted its holdings in shares of Arista Networks by 6.5% in the third quarter. Caprock Group LLC now owns 5,238 shares of the technology company’s stock valued at $963,000 after purchasing an additional 320 shares during the period. Finally, Clarity Financial LLC purchased a new stake in shares of Arista Networks in the third quarter valued at approximately $261,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Performance

Arista Networks stock opened at $258.00 on Thursday. The stock has a 50-day moving average of $279.08 and a two-hundred day moving average of $246.25. Arista Networks, Inc. has a one year low of $131.68 and a one year high of $307.74. The stock has a market cap of $80.66 billion, a PE ratio of 38.78, a price-to-earnings-growth ratio of 2.15 and a beta of 1.09.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.70 by $0.38. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. Arista Networks’s revenue was up 20.8% on a year-over-year basis. During the same period last year, the firm posted $1.25 EPS. As a group, sell-side analysts predict that Arista Networks, Inc. will post 6.7 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on ANET shares. Oppenheimer reiterated a “market perform” rating on shares of Arista Networks in a report on Tuesday, February 13th. Melius Research raised shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a research note on Monday, January 8th. Wells Fargo & Company upped their price target on shares of Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $325.00 price target on shares of Arista Networks in a research report on Tuesday, February 13th. Finally, Morgan Stanley upped their price target on shares of Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and an average price target of $275.59.

Insiders Place Their Bets

In related news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was 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 owns 3,244 shares in the company, valued at approximately $940,922.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $290.05, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Yvonne Wassenaar sold 224 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total transaction of $57,184.96. Following the transaction, the director now directly owns 2,827 shares of the company’s stock, valued at approximately $721,704.83. The disclosure for this sale can be found here. Over the last quarter, insiders sold 333,494 shares of company stock valued at $95,632,321. Insiders own 18.99% of the company’s stock.

About Arista Networks

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.