Metis Global Partners LLC Sells 868 Shares of Arista Networks, Inc. (NYSE:ANET)

Metis Global Partners LLC reduced its holdings in Arista Networks, Inc. (NYSE:ANET) by 8.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,901 shares of the technology company’s stock after selling 868 shares during the quarter. Metis Global Partners LLC’s holdings in Arista Networks were worth $2,332,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Arista Networks by 0.3% in the third quarter. Vanguard Group Inc. now owns 27,898,836 shares of the technology company’s stock valued at $5,131,433,000 after purchasing an additional 84,212 shares in the last quarter. FMR LLC boosted its position in Arista Networks by 32.2% during the 3rd quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock worth $1,897,906,000 after acquiring an additional 2,515,864 shares during the last quarter. WCM Investment Management LLC grew its stake in shares of Arista Networks by 0.5% during the 4th quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock worth $716,649,000 after acquiring an additional 16,081 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Arista Networks by 5.0% in the third quarter. Northern Trust Corp now owns 2,403,738 shares of the technology company’s stock valued at $442,120,000 after purchasing an additional 114,978 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Arista Networks by 0.8% in the fourth quarter. Jennison Associates LLC now owns 1,807,494 shares of the technology company’s stock worth $425,683,000 after purchasing an additional 14,627 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Oppenheimer reissued a “market perform” rating on shares of Arista Networks in a research report on Tuesday, February 13th. Barclays upped their target price on shares of Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. JMP Securities reiterated a “market outperform” rating and set a $325.00 price target on shares of Arista Networks in a report on Tuesday, February 13th. Finally, KeyCorp raised their price objective on Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a research report on Thursday, January 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and a consensus price target of $285.53.

Insider Buying and Selling

In other news, SVP Marc Taxay sold 1,044 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $254.54, for a total transaction of $265,739.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider John F. Mccool sold 420 shares of Arista Networks stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $266.08, for a total value of $111,753.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Marc Taxay sold 1,044 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $254.54, for a total transaction of $265,739.76. The disclosure for this sale can be found here. Insiders have sold a total of 337,474 shares of company stock valued at $96,640,840 over the last ninety days. 3.54% of the stock is owned by corporate insiders.

Arista Networks Price Performance

Arista Networks stock opened at $276.26 on Tuesday. The business has a 50 day moving average of $279.18 and a 200-day moving average of $250.63. The company has a market capitalization of $86.37 billion, a P/E ratio of 42.44, a P/E/G ratio of 2.33 and a beta of 1.13. Arista Networks, Inc. has a 1 year low of $133.42 and a 1 year high of $307.74.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the prior year, the firm posted $1.25 earnings per share. The business’s quarterly revenue was up 20.8% compared to the same quarter last year. Equities analysts anticipate that Arista Networks, Inc. will post 6.74 EPS for the current year.

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.