XTX Topco Ltd Sells 76,979 Shares of Arista Networks, Inc. $ANET

XTX Topco Ltd lowered its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 91.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,133 shares of the technology company’s stock after selling 76,979 shares during the quarter. XTX Topco Ltd’s holdings in Arista Networks were worth $730,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Telos Capital Management Inc. boosted its holdings in Arista Networks by 1.0% during the 2nd quarter. Telos Capital Management Inc. now owns 9,260 shares of the technology company’s stock worth $947,000 after acquiring an additional 88 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its position in shares of Arista Networks by 1.6% during the second quarter. Wealthcare Advisory Partners LLC now owns 6,038 shares of the technology company’s stock valued at $618,000 after purchasing an additional 95 shares in the last quarter. Putney Financial Group LLC lifted its position in shares of Arista Networks by 0.7% during the second quarter. Putney Financial Group LLC now owns 14,139 shares of the technology company’s stock valued at $1,447,000 after purchasing an additional 95 shares in the last quarter. 1900 Wealth Management LLC boosted its holdings in Arista Networks by 2.3% during the second quarter. 1900 Wealth Management LLC now owns 4,338 shares of the technology company’s stock worth $444,000 after purchasing an additional 98 shares during the last quarter. Finally, Wesbanco Bank Inc. grew its position in Arista Networks by 2.3% in the 2nd quarter. Wesbanco Bank Inc. now owns 4,508 shares of the technology company’s stock worth $461,000 after purchasing an additional 100 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Trading Down 0.7%

Arista Networks stock opened at $127.23 on Wednesday. The business’s 50 day simple moving average is $141.38 and its 200 day simple moving average is $124.88. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $164.94. The company has a market cap of $160.22 billion, a price-to-earnings ratio of 48.38, a PEG ratio of 2.46 and a beta of 1.41.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The business 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 business’s revenue for the quarter was up 27.5% on a year-over-year basis. During the same period last year, the business posted $2.40 earnings per share. As a group, equities research analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Transactions at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $157.12, for a total value of $1,256,960.00. Following the sale, the director owned 33,784 shares of the company’s stock, valued at $5,308,142.08. The trade was a 19.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kenneth Duda sold 26,000 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $128.61, for a total transaction of $3,343,860.00. Following the completion of the transaction, the insider directly owned 542,400 shares of the company’s stock, valued at approximately $69,758,064. This trade represents a 4.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 2,009,464 shares of company stock worth $293,774,712. Insiders own 3.54% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Morgan Stanley set a $171.00 price objective on shares of Arista Networks and gave the company an “overweight” rating in a research note on Friday, October 10th. Piper Sandler reaffirmed a “neutral” rating and issued a $145.00 target price (up from $143.00) on shares of Arista Networks in a report on Wednesday, November 5th. BNP Paribas upgraded Arista Networks from a “hold” rating to an “outperform” rating in a report on Thursday, September 25th. Needham & Company LLC boosted their price objective on Arista Networks from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. Finally, KeyCorp upped their price objective on Arista Networks from $115.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, August 6th. Eighteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $164.31.

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.