Northcape Wealth Management LLC Sells 2,931 Shares of Arista Networks, Inc. (NYSE:ANET)

Northcape Wealth Management LLC lowered its position in Arista Networks, Inc. (NYSE:ANET) by 20.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,561 shares of the technology company’s stock after selling 2,931 shares during the period. Northcape Wealth Management LLC’s holdings in Arista Networks were worth $2,723,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ANET. Ballentine Partners LLC acquired a new stake in Arista Networks in the third quarter worth about $262,000. Valeo Financial Advisors LLC grew its position in Arista Networks by 18.6% during the 3rd quarter. Valeo Financial Advisors LLC now owns 1,590 shares of the technology company’s stock worth $292,000 after purchasing an additional 249 shares during the last quarter. Brookstone Capital Management acquired a new position in Arista Networks during the 3rd quarter valued at approximately $1,561,000. Commonwealth Equity Services LLC raised its holdings in shares of Arista Networks by 41.2% in the third quarter. Commonwealth Equity Services LLC now owns 90,691 shares of the technology company’s stock worth $16,681,000 after buying an additional 26,472 shares during the last quarter. Finally, RMR Wealth Builders lifted its stake in shares of Arista Networks by 62.7% during the third quarter. RMR Wealth Builders now owns 6,215 shares of the technology company’s stock worth $1,143,000 after buying an additional 2,396 shares during the period. Institutional investors own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Yvonne Wassenaar sold 224 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total value of $57,184.96. Following the completion of the transaction, the director now owns 2,827 shares in the company, valued at $721,704.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Arista Networks news, Director Kelly Bodnar Battles sold 278 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $265.81, for a total transaction of $73,895.18. Following the transaction, the director now directly owns 2,553 shares of the company’s stock, valued at approximately $678,612.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Yvonne Wassenaar sold 224 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total transaction of $57,184.96. Following the completion of the sale, the director now directly owns 2,827 shares of the company’s stock, valued at $721,704.83. The disclosure for this sale can be found here. In the last quarter, insiders sold 332,514 shares of company stock worth $95,369,397. 18.99% of the stock is currently owned by insiders.

Arista Networks Stock Down 2.7 %

ANET stock traded down $7.11 during midday trading on Tuesday, hitting $256.56. The company’s stock had a trading volume of 2,039,195 shares, compared to its average volume of 2,465,440. Arista Networks, Inc. has a 52-week low of $131.68 and a 52-week high of $307.74. The firm has a 50-day simple moving average of $279.13 and a 200-day simple moving average of $248.11. The firm has a market capitalization of $80.46 billion, a P/E ratio of 39.95, a PEG ratio of 2.26 and a beta of 1.09.

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

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $320.00 target price on shares of Arista Networks in a research report on Tuesday, February 13th. Rosenblatt Securities reaffirmed a “sell” rating and set a $210.00 price target on shares of Arista Networks in a research report on Friday, April 12th. JMP Securities reaffirmed a “market outperform” rating and set a $325.00 target price on shares of Arista Networks in a report on Tuesday, February 13th. Wells Fargo & Company upped their price objective on Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Finally, Barclays raised their price objective on shares of Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.