Dimensional Fund Advisors LP Cuts Stake in Arista Networks, Inc. $ANET

Dimensional Fund Advisors LP reduced its position in shares of Arista Networks, Inc. (NYSE:ANET) by 4.0% in the third quarter, Holdings Channel reports. The firm owned 2,110,459 shares of the technology company’s stock after selling 88,212 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Arista Networks were worth $307,465,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bare Financial Services Inc grew its holdings in shares of Arista Networks by 2,118.2% during the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after buying an additional 233 shares during the last quarter. AdvisorNet Financial Inc lifted its position in Arista Networks by 56.7% in the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after acquiring an additional 72 shares in the last quarter. Richardson Financial Services Inc. lifted its position in Arista Networks by 141.3% in the 3rd quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock valued at $32,000 after acquiring an additional 130 shares in the last quarter. SJS Investment Consulting Inc. boosted its stake in Arista Networks by 979.2% during the 3rd quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock valued at $38,000 after purchasing an additional 235 shares during the last quarter. Finally, Guerra Advisors Inc bought a new stake in shares of Arista Networks in the 3rd quarter worth $41,000. Institutional investors own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of research analyst reports. UBS Group set a $200.00 price target on Arista Networks in a report on Tuesday, February 24th. Barclays reissued an “overweight” rating and issued a $184.00 target price (up from $183.00) on shares of Arista Networks in a research report on Friday, February 13th. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price target on shares of Arista Networks in a report on Friday, February 13th. The Goldman Sachs Group reissued a “buy” rating and set a $188.00 price objective (up from $165.00) on shares of Arista Networks in a report on Friday, February 13th. Finally, Erste Group Bank cut shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Monday, November 10th. Seventeen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $176.88.

Insider Buying and Selling

In other news, Director Yvonne Wassenaar sold 1,815 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $132.44, for a total value of $240,378.60. Following the transaction, the director owned 12,574 shares of the company’s stock, valued at $1,665,300.56. This trade represents a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kelly Bodnar Battles sold 422 shares of Arista Networks stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $128.06, for a total value of $54,041.32. Following the transaction, the director directly owned 9,529 shares in the company, valued at approximately $1,220,283.74. The trade was a 4.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 196,237 shares of company stock worth $25,865,760. Corporate insiders own 3.39% of the company’s stock.

Arista Networks Trading Up 3.2%

Shares of ANET stock opened at $139.16 on Friday. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $164.94. The stock has a market cap of $174.86 billion, a P/E ratio of 50.42, a P/E/G ratio of 2.39 and a beta of 1.46. The company has a 50 day simple moving average of $134.43 and a two-hundred day simple moving average of $137.19.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Thursday, February 12th. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.07. The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.38 billion. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The company’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 EPS. As a group, equities analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

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.