Curated Wealth Partners LLC Sells 6,481 Shares of Arista Networks, Inc. $ANET

Curated Wealth Partners LLC decreased its holdings in Arista Networks, Inc. (NYSE:ANET) by 41.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,261 shares of the technology company’s stock after selling 6,481 shares during the period. Curated Wealth Partners LLC’s holdings in Arista Networks were worth $1,349,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Bare Financial Services Inc boosted its position in Arista Networks by 2,118.2% during the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after purchasing an additional 233 shares during the period. Saudi Central Bank acquired a new stake in shares of Arista Networks during the 1st quarter worth about $33,000. REAP Financial Group LLC boosted its holdings in shares of Arista Networks by 108.0% during the 2nd quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock worth $34,000 after buying an additional 175 shares during the period. eCIO Inc. acquired a new position in Arista Networks in the 1st quarter valued at about $36,000. Finally, Solstein Capital LLC raised its holdings in Arista Networks by 493.8% in the 2nd quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock valued at $39,000 after acquiring an additional 316 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on ANET. Barclays reaffirmed an “overweight” rating and issued a $183.00 target price (up previously from $179.00) on shares of Arista Networks in a research report on Wednesday, November 5th. JPMorgan Chase & Co. upped their price objective on Arista Networks from $150.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Citigroup increased their price objective on Arista Networks from $136.00 to $176.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Piper Sandler reissued a “neutral” rating and issued a $145.00 target price (up previously from $143.00) on shares of Arista Networks in a research report on Wednesday, November 5th. Finally, Melius Research upped their price target on shares of Arista Networks from $160.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Seventeen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $163.56.

Insider Activity at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 24,042 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total transaction of $2,994,431.10. Following the sale, the chief executive officer owned 9,917 shares of the company’s stock, valued at approximately $1,235,162.35. The trade was a 70.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $128.09, for a total value of $1,024,720.00. Following the completion of the transaction, the director owned 25,784 shares of the company’s stock, valued at $3,302,672.56. The trade was a 23.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 216,464 shares of company stock valued at $28,598,588 in the last quarter. Insiders own 3.39% of the company’s stock.

Arista Networks Price Performance

Shares of ANET opened at $131.29 on Friday. The firm has a 50 day simple moving average of $136.26 and a two-hundred day simple moving average of $127.71. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $164.94. The company has a market cap of $165.33 billion, a P/E ratio of 49.92, a P/E/G ratio of 2.39 and a beta of 1.41.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.Arista Networks’s revenue was up 27.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.40 EPS. On average, analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks Company Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.