Natixis Advisors L.P. Cuts Stake in Arista Networks, Inc. (NYSE:ANET)

Natixis Advisors L.P. cut its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 1.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 466,782 shares of the technology company’s stock after selling 8,530 shares during the quarter. Natixis Advisors L.P. owned approximately 0.15% of Arista Networks worth $109,931,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Larson Financial Group LLC bought a new stake in shares of Arista Networks during the third quarter valued at about $28,000. First Command Advisory Services Inc. bought a new position in Arista Networks during the third quarter valued at approximately $29,000. BluePath Capital Management LLC bought a new position in Arista Networks during the third quarter valued at approximately $33,000. NBC Securities Inc. bought a new position in Arista Networks during the third quarter valued at approximately $33,000. Finally, Atticus Wealth Management LLC grew its position in Arista Networks by 3,625.0% during the fourth quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock valued at $35,000 after acquiring an additional 145 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider John F. Mccool sold 420 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $266.08, for a total transaction of $111,753.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Yvonne Wassenaar sold 224 shares of Arista Networks stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total value of $57,184.96. Following the completion of the sale, the director now directly owns 2,827 shares in the company, valued at approximately $721,704.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John F. Mccool sold 420 shares of Arista Networks stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $266.08, for a total value of $111,753.60. The disclosure for this sale can be found here. Insiders sold 332,514 shares of company stock worth $95,369,397 over the last three months. 18.99% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Wells Fargo & Company increased their price objective on Arista Networks from $225.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Melius raised Arista Networks from a “hold” rating to a “buy” rating in a research note on Monday, January 8th. The Goldman Sachs Group increased their price objective on Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Barclays increased their price objective on Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. Finally, Rosenblatt Securities reissued a “sell” rating and set a $210.00 price objective on shares of Arista Networks in a research note on Friday, April 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $275.59.

Arista Networks Trading Up 1.9 %

ANET traded up $4.78 during trading on Thursday, reaching $259.99. The stock had a trading volume of 750,381 shares, compared to its average volume of 2,442,737. The stock’s 50 day moving average is $279.08 and its two-hundred day moving average is $248.62. The company has a market capitalization of $81.54 billion, a price-to-earnings ratio of 39.39, a P/E/G ratio of 2.19 and a beta of 1.13. Arista Networks, Inc. has a one year low of $131.68 and a one year high of $307.74.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the company earned $1.25 earnings per share. The firm’s quarterly revenue was up 20.8% compared to the same quarter last year. On average, equities research analysts predict that Arista Networks, Inc. will post 6.7 earnings per share for the current year.

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.