Silver Oak Securities Incorporated Reduces Position in Arista Networks, Inc. $ANET

Silver Oak Securities Incorporated decreased its holdings in Arista Networks, Inc. (NYSE:ANET) by 25.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 18,898 shares of the technology company’s stock after selling 6,542 shares during the period. Silver Oak Securities Incorporated’s holdings in Arista Networks were worth $2,754,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bare Financial Services Inc raised its holdings in shares of Arista Networks by 2,118.2% during the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after purchasing an additional 233 shares during the last quarter. AdvisorNet Financial Inc grew its position in Arista Networks by 56.7% in the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after purchasing an additional 72 shares during the period. REAP Financial Group LLC grew its position in Arista Networks by 108.0% in the 2nd quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock worth $34,000 after purchasing an additional 175 shares during the period. eCIO Inc. purchased a new stake in Arista Networks during the 1st quarter valued at $36,000. Finally, Solstein Capital LLC lifted its holdings in shares of Arista Networks by 493.8% during the 2nd quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock valued at $39,000 after buying an additional 316 shares during the period. Institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Down 1.1%

Shares of ANET opened at $130.97 on Friday. The business has a 50-day simple moving average of $133.75 and a two-hundred day simple moving average of $130.00. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $164.94. The stock has a market cap of $164.93 billion, a price-to-earnings ratio of 49.80, a PEG ratio of 2.51 and a beta of 1.41.

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

Insider Activity

In other news, insider Kenneth Duda sold 30,000 shares of the stock in a transaction on Wednesday, December 17th. The shares were 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 of the company’s stock, valued at $1,598,124.16. This represents a 69.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $157.12, for a total transaction of $1,256,960.00. Following the transaction, the director owned 33,784 shares in the company, valued at approximately $5,308,142.08. This trade represents a 19.15% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 208,464 shares of company stock valued at $27,418,668. Company insiders own 3.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ANET. Piper Sandler restated a “neutral” rating and issued a $145.00 price target (up from $143.00) on shares of Arista Networks in a research note on Wednesday, November 5th. William Blair reissued an “outperform” rating on shares of Arista Networks in a research report on Friday, September 12th. Rosenblatt Securities restated a “neutral” rating and set a $140.00 price target on shares of Arista Networks in a research note on Monday, November 24th. Wolfe Research upped their price target on shares of Arista Networks from $160.00 to $185.00 and gave the company an “outperform” rating in a research report on Friday, September 12th. Finally, Evercore ISI raised their price objective on shares of Arista Networks from $150.00 to $175.00 and gave the stock an “outperform” rating in a report on Friday, September 12th. Seventeen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and an average target price of $163.56.

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.