Arista Networks, Inc. (NYSE:ANET) is Beck Bode LLC’s 2nd Largest Position

Beck Bode LLC lowered its position in Arista Networks, Inc. (NYSE:ANET) by 4.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,496 shares of the technology company’s stock after selling 2,639 shares during the quarter. Arista Networks makes up approximately 3.1% of Beck Bode LLC’s portfolio, making the stock its 2nd biggest position. Beck Bode LLC’s holdings in Arista Networks were worth $14,012,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ANET. Savant Capital LLC lifted its position in Arista Networks by 101.5% in the fourth quarter. Savant Capital LLC now owns 8,606 shares of the technology company’s stock valued at $2,027,000 after purchasing an additional 4,334 shares during the last quarter. Alpha Cubed Investments LLC bought a new stake in Arista Networks in the fourth quarter valued at approximately $237,000. Vanguard Capital Wealth Advisors bought a new stake in Arista Networks in the fourth quarter valued at approximately $277,000. Mission Wealth Management LP bought a new position in shares of Arista Networks during the fourth quarter valued at approximately $217,000. Finally, Certuity LLC raised its holdings in shares of Arista Networks by 34.8% during the fourth quarter. Certuity LLC now owns 8,534 shares of the technology company’s stock valued at $2,010,000 after acquiring an additional 2,201 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Down 2.7 %

Shares of NYSE ANET traded down $7.11 during trading on Tuesday, reaching $256.56. The company had a trading volume of 2,039,195 shares, compared to its average volume of 2,465,440. Arista Networks, Inc. has a 12-month low of $131.68 and a 12-month high of $307.74. The stock has a market cap of $80.46 billion, a PE ratio of 39.05, a P/E/G ratio of 2.26 and a beta of 1.09. The business’s 50-day moving average is $279.07 and its 200 day moving average is $248.57.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the firm posted $1.25 earnings per share. Arista Networks’s revenue was up 20.8% compared to the same quarter last year. On average, analysts anticipate that Arista Networks, Inc. will post 6.7 earnings per share for the current year.

Insider Activity at Arista Networks

In related news, CEO Jayshree Ullal sold 87,418 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $278.81, for a total transaction of $24,373,012.58. Following the sale, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at $4,929,639.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Arista Networks news, insider John F. Mccool sold 420 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $266.08, for a total value of $111,753.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jayshree Ullal sold 87,418 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $278.81, for a total value of $24,373,012.58. Following the completion of the transaction, the chief executive officer now directly owns 17,681 shares in the company, valued at $4,929,639.61. The disclosure for this sale can be found here. Insiders have sold 332,514 shares of company stock valued at $95,369,397 over the last ninety days. Insiders own 18.99% of the company’s stock.

Wall Street Analysts Forecast Growth

ANET has been the subject of a number of recent analyst reports. Piper Sandler upped their target price on Arista Networks from $254.00 to $268.00 and gave the company a “neutral” rating in a report on Tuesday, February 13th. Morgan Stanley upped their target price on Arista Networks from $230.00 to $272.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Oppenheimer restated a “market perform” rating on shares of Arista Networks in a report on Tuesday, February 13th. Needham & Company LLC restated a “buy” rating and set a $320.00 target price on shares of Arista Networks in a report on Tuesday, February 13th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $300.00 price objective on shares of Arista Networks in a report on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $275.59.

Arista Networks Company Profile

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.