Arista Networks, Inc. $ANET Shares Sold by Traynor Capital Management Inc.

Traynor Capital Management Inc. reduced its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 56.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,957 shares of the technology company’s stock after selling 5,124 shares during the period. Traynor Capital Management Inc.’s holdings in Arista Networks were worth $518,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Bare Financial Services Inc raised its stake in Arista Networks by 2,118.2% in the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after acquiring an additional 233 shares during the last quarter. Board of the Pension Protection Fund purchased a new stake in Arista Networks during the 4th quarter valued at about $26,000. AdvisorNet Financial Inc grew its stake in Arista Networks by 56.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after purchasing an additional 72 shares during the last quarter. Knuff & Co LLC acquired a new position in shares of Arista Networks in the third quarter valued at about $29,000. Finally, Richardson Financial Services Inc. increased its holdings in shares of Arista Networks by 141.3% in the third quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock valued at $32,000 after purchasing an additional 130 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Stock Down 9.2%

Arista Networks stock opened at $122.59 on Friday. The business’s 50-day moving average price is $135.67 and its 200 day moving average price is $137.03. The firm has a market cap of $154.03 billion, a price-to-earnings ratio of 44.42, a price-to-earnings-growth ratio of 2.39 and a beta of 1.46. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $164.94.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Thursday, February 12th. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.07. Arista Networks had a return on equity of 30.37% and a net margin of 38.99%.The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the previous year, the company posted $0.66 earnings per share. Arista Networks’s revenue for the quarter was up 28.9% on a year-over-year basis. Equities analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Activity at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $140.43, for a total value of $1,123,440.00. Following the completion of the transaction, the director directly owned 9,784 shares in the company, valued at $1,373,967.12. The trade was a 44.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Yvonne Wassenaar sold 1,815 shares of the firm’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $132.44, for a total transaction of $240,378.60. Following the sale, the director owned 12,574 shares in the company, valued at approximately $1,665,300.56. This represents a 12.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 199,632 shares of company stock worth $26,936,324 in the last three months. Company insiders own 3.39% of the company’s stock.

Analyst Upgrades and Downgrades

ANET has been the subject of a number of research reports. Barclays reaffirmed an “overweight” rating and set a $184.00 target price (up from $183.00) on shares of Arista Networks in a report on Friday, February 13th. Wells Fargo & Company increased their price target on shares of Arista Networks from $175.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. Evercore reissued an “outperform” rating and set a $200.00 price target on shares of Arista Networks in a research report on Friday, February 13th. The Goldman Sachs Group restated a “buy” rating and set a $188.00 price objective (up from $165.00) on shares of Arista Networks in a research note on Friday, February 13th. Finally, Rosenblatt Securities upped their price objective on shares of Arista Networks from $140.00 to $165.00 and gave the company a “neutral” rating in a report on Tuesday, February 10th. Eighteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $176.47.

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.