SVB Wealth LLC Lowers Holdings in Arista Networks, Inc. $ANET

SVB Wealth LLC lessened its holdings in Arista Networks, Inc. (NYSE:ANET) by 26.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,678 shares of the technology company’s stock after selling 8,880 shares during the quarter. SVB Wealth LLC’s holdings in Arista Networks were worth $2,525,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. Stablepoint Partners LLC raised its holdings in Arista Networks by 0.8% in the second quarter. Stablepoint Partners LLC now owns 9,406 shares of the technology company’s stock worth $962,000 after buying an additional 77 shares during the last quarter. Telos Capital Management Inc. boosted its stake in Arista Networks by 1.0% in the 2nd quarter. Telos Capital Management Inc. now owns 9,260 shares of the technology company’s stock worth $947,000 after purchasing an additional 88 shares during the period. Wealthcare Advisory Partners LLC lifted its stake in Arista Networks by 1.6% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 6,038 shares of the technology company’s stock worth $618,000 after purchasing an additional 95 shares in the last quarter. Putney Financial Group LLC grew its holdings in Arista Networks by 0.7% during the 2nd quarter. Putney Financial Group LLC now owns 14,139 shares of the technology company’s stock valued at $1,447,000 after buying an additional 95 shares in the last quarter. Finally, 1900 Wealth Management LLC increased its position in Arista Networks by 2.3% in 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. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Charles H. Giancarlo sold 58,000 shares of the company’s stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $148.42, for a total transaction of $8,608,360.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kenneth Duda sold 30,000 shares of the company’s stock in a transaction on Friday, October 17th. The stock was sold at an average price of $142.75, for a total transaction of $4,282,500.00. Following the completion of the sale, the insider owned 12,976 shares of the company’s stock, valued at approximately $1,852,324. The trade was a 69.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,522,152 shares of company stock valued at $223,569,587 in the last ninety days. 3.54% of the stock is owned by company insiders.

Arista Networks Price Performance

Shares of NYSE ANET opened at $129.00 on Tuesday. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $164.94. The stock has a market capitalization of $162.44 billion, a price-to-earnings ratio of 49.05, a PEG ratio of 2.47 and a beta of 1.41. The business has a 50-day moving average of $140.23 and a 200-day moving average of $125.84.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.72 by $0.03. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.26 billion. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. Arista Networks’s revenue was up 27.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.40 earnings per share. On average, sell-side analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on ANET. Wolfe Research raised their price objective on Arista Networks from $160.00 to $185.00 and gave the stock an “outperform” rating in a report on Friday, September 12th. Wells Fargo & Company lifted their price target on shares of Arista Networks from $150.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Erste Group Bank lowered Arista Networks from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. Melius Research lifted their target price on Arista Networks from $160.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Finally, BNP Paribas raised Arista Networks from a “hold” rating to an “outperform” rating in a report on Thursday, September 25th. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and an average price target of $164.31.

Arista Networks 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.