Kesler Norman & Wride LLC Sells 8,583 Shares of Arista Networks, Inc. $ANET

Kesler Norman & Wride LLC lowered its position in shares of Arista Networks, Inc. (NYSE:ANET) by 34.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,452 shares of the technology company’s stock after selling 8,583 shares during the quarter. Kesler Norman & Wride LLC’s holdings in Arista Networks were worth $2,397,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Oregon Public Employees Retirement Fund boosted its stake in Arista Networks by 32.3% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 117,788 shares of the technology company’s stock worth $17,163,000 after purchasing an additional 28,742 shares in the last quarter. Cromwell Holdings LLC lifted its position in Arista Networks by 5.3% in the 3rd quarter. Cromwell Holdings LLC now owns 3,105 shares of the technology company’s stock valued at $452,000 after acquiring an additional 157 shares in the last quarter. Capital Investment Advisors LLC boosted its stake in Arista Networks by 11.3% during the 3rd quarter. Capital Investment Advisors LLC now owns 7,647 shares of the technology company’s stock valued at $1,114,000 after purchasing an additional 779 shares during the last quarter. Essex LLC raised its stake in shares of Arista Networks by 2.1% in the third quarter. Essex LLC now owns 11,364 shares of the technology company’s stock worth $1,656,000 after purchasing an additional 236 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Arista Networks by 2.6% during the third quarter. Nisa Investment Advisors LLC now owns 233,664 shares of the technology company’s stock valued at $34,047,000 after purchasing an additional 5,995 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Arista Networks

In related news, insider Kenneth Duda sold 30,000 shares of Arista Networks stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $123.16, for a total value of $3,694,800.00. Following the completion of the sale, the insider directly owned 12,976 shares in the company, valued at $1,598,124.16. The trade was a 69.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $133.79, for a total transaction of $1,070,320.00. Following the completion of the transaction, the director directly owned 17,784 shares in the company, valued at approximately $2,379,321.36. The trade was a 31.03% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 216,464 shares of company stock valued at $28,488,988. Corporate insiders own 3.39% of the company’s stock.

Arista Networks Price Performance

Shares of ANET stock opened at $123.05 on Friday. Arista Networks, Inc. has a one year low of $59.43 and a one year high of $164.94. The company’s fifty day moving average price is $130.43 and its 200-day moving average price is $131.65. The company has a market capitalization of $154.95 billion, a price-to-earnings ratio of 46.79, a PEG ratio of 2.08 and a beta of 1.41.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The business had revenue of $2.31 billion during the quarter, compared to analyst estimates 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 for the quarter was up 27.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.40 EPS. Equities research analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Wolfe Research upped their target price on shares of Arista Networks from $160.00 to $185.00 and gave the company an “outperform” rating in a research note on Friday, September 12th. Wells Fargo & Company increased their price objective on shares of Arista Networks from $150.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Weiss Ratings restated a “hold (c+)” rating on shares of Arista Networks in a report on Monday, December 29th. UBS Group reiterated a “buy” rating and set a $155.00 target price on shares of Arista Networks in a research note on Wednesday, December 3rd. Finally, JPMorgan Chase & Co. increased their price target on Arista Networks from $150.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Eighteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $164.44.

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.