Wetherby Asset Management Inc. Decreases Position in Arista Networks Inc (ANET)

Wetherby Asset Management Inc. cut its stake in Arista Networks Inc (NYSE:ANET) by 45.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 25,206 shares of the technology company’s stock after selling 20,929 shares during the quarter. Arista Networks comprises approximately 0.8% of Wetherby Asset Management Inc.’s portfolio, making the stock its 16th biggest holding. Wetherby Asset Management Inc.’s holdings in Arista Networks were worth $5,938,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ANET. PNC Financial Services Group Inc. lifted its stake in Arista Networks by 20.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock valued at $111,000 after buying an additional 126 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Arista Networks by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 211,624 shares of the technology company’s stock valued at $31,700,000 after buying an additional 858 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in Arista Networks by 44.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 22,121 shares of the technology company’s stock worth $3,314,000 after purchasing an additional 6,823 shares in the last quarter. Advisory Services Network LLC lifted its stake in Arista Networks by 609.5% in the 2nd quarter. Advisory Services Network LLC now owns 1,568 shares of the technology company’s stock worth $235,000 after purchasing an additional 1,347 shares in the last quarter. Finally, Achmea Investment Management B.V. purchased a new position in Arista Networks in the 2nd quarter worth approximately $314,000. 57.18% of the stock is currently owned by hedge funds and other institutional investors.

In related news, SVP Marc Taxay sold 2,000 shares of Arista Networks stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $275.31, for a total value of $550,620.00. Following the completion of the sale, the senior vice president now owns 12,294 shares in the company, valued at approximately $3,384,661.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andreas Bechtolsheim sold 132,370 shares of Arista Networks stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $240.17, for a total transaction of $31,791,302.90. Following the completion of the sale, the insider now owns 73,102 shares of the company’s stock, valued at approximately $17,556,907.34. The disclosure for this sale can be found here. Insiders sold a total of 333,126 shares of company stock valued at $79,827,040 in the last quarter. 28.09% of the stock is owned by insiders.

Shares of Arista Networks Inc (NYSE:ANET) opened at $249.49 on Monday. Arista Networks Inc has a 1-year low of $110.31 and a 1-year high of $311.67. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.66 and a quick ratio of 3.07. The firm has a market cap of $18,237.88, a P/E ratio of 46.72, a P/E/G ratio of 1.92 and a beta of 1.47.

Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, February 15th. The technology company reported $1.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.32. Arista Networks had a net margin of 25.71% and a return on equity of 27.23%. The firm had revenue of $467.90 million during the quarter, compared to the consensus estimate of $463.82 million. During the same quarter last year, the firm earned $1.04 EPS. The firm’s revenue for the quarter was up 42.7% on a year-over-year basis. equities analysts expect that Arista Networks Inc will post 5.5 earnings per share for the current fiscal year.

A number of research analysts have weighed in on ANET shares. KeyCorp reissued a “buy” rating on shares of Arista Networks in a research note on Friday, November 3rd. Cowen reissued a “buy” rating and issued a $200.00 target price on shares of Arista Networks in a research note on Friday, November 3rd. Citigroup reissued a “buy” rating and issued a $220.00 target price (up from $215.00) on shares of Arista Networks in a research note on Friday, November 3rd. Needham & Company LLC reissued a “buy” rating and issued a $217.00 target price (up from $175.00) on shares of Arista Networks in a research note on Friday, November 3rd. They noted that the move was a valuation call. Finally, DA Davidson raised shares of Arista Networks from a “neutral” rating to a “buy” rating and set a $224.00 target price on the stock in a research note on Friday, November 3rd. Fifteen analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $245.77.

WARNING: This article was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this article on another website, it was illegally copied and reposted in violation of U.S. and international trademark & copyright legislation. The correct version of this article can be viewed at https://ledgergazette.com/2018/02/19/wetherby-asset-management-inc-decreases-position-in-arista-networks-inc-anet.html.

About Arista Networks

Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.

Want to see what other hedge funds are holding ANET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arista Networks Inc (NYSE:ANET).

Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

Receive News & Ratings for Arista Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply