OVERSEA CHINESE BANKING Corp Ltd Sells 17,075 Shares of Arista Networks, Inc. $ANET

OVERSEA CHINESE BANKING Corp Ltd lowered its position in Arista Networks, Inc. (NYSE:ANET) by 20.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 66,571 shares of the technology company’s stock after selling 17,075 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Arista Networks were worth $9,695,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of ANET. Brighton Jones LLC raised its position in shares of Arista Networks by 321.7% in the 4th quarter. Brighton Jones LLC now owns 7,806 shares of the technology company’s stock worth $863,000 after acquiring an additional 5,955 shares in the last quarter. Revolve Wealth Partners LLC acquired a new stake in Arista Networks during the fourth quarter worth approximately $202,000. Bison Wealth LLC acquired a new stake in Arista Networks during the fourth quarter worth approximately $251,000. Geneos Wealth Management Inc. increased its holdings in Arista Networks by 16.6% in the first quarter. Geneos Wealth Management Inc. now owns 2,098 shares of the technology company’s stock worth $163,000 after purchasing an additional 299 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in Arista Networks by 21.8% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 4,089 shares of the technology company’s stock valued at $418,000 after buying an additional 732 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Stock Performance

Shares of NYSE ANET opened at $124.92 on Thursday. The stock has a market cap of $157.30 billion, a price-to-earnings ratio of 47.50, a PEG ratio of 2.19 and a beta of 1.41. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $164.94. The firm’s 50-day simple moving average is $128.96 and its 200 day simple moving average is $132.47.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.72 by $0.03. The firm 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 company’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.40 earnings per share. On average, sell-side analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Erste Group Bank downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. Barclays reissued an “overweight” rating and set a $183.00 target price (up from $179.00) on shares of Arista Networks in a research note on Wednesday, November 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Arista Networks in a report on Monday, December 29th. Rosenblatt Securities reiterated a “neutral” rating and set a $140.00 price objective on shares of Arista Networks in a report on Monday, November 24th. Finally, BNP Paribas Exane raised shares of Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 price objective on the stock in a research report on Thursday, September 25th. 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.44.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 24,042 shares of Arista Networks stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $124.55, for a total transaction of $2,994,431.10. Following the transaction, the chief executive officer directly owned 9,917 shares of the company’s stock, valued at $1,235,162.35. The trade was a 70.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $133.79, for a total transaction of $1,070,320.00. Following the completion of the sale, the director owned 17,784 shares of the company’s stock, valued at approximately $2,379,321.36. This represents a 31.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 216,464 shares of company stock worth $28,488,988. Corporate insiders own 3.39% of the company’s stock.

About Arista Networks

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.