Bank Julius Baer & Co. Ltd Zurich Decreases Position in Arista Networks, Inc. (NYSE:ANET)

Bank Julius Baer & Co. Ltd Zurich decreased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 3.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,344 shares of the technology company’s stock after selling 54 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Arista Networks were worth $317,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Rakuten Securities Inc. purchased a new stake in Arista Networks during the fourth quarter worth approximately $35,000. Atticus Wealth Management LLC increased 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 worth $35,000 after buying an additional 145 shares during the period. Larson Financial Group LLC acquired a new position in Arista Networks during the third quarter worth approximately $28,000. Sandy Spring Bank increased its position in Arista Networks by 33.6% during the fourth quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock worth $37,000 after buying an additional 39 shares during the period. Finally, First Command Advisory Services Inc. acquired a new position in Arista Networks during the third quarter worth approximately $29,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Morgan Stanley lifted their price target on Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Piper Sandler boosted their target price on Arista Networks from $254.00 to $268.00 and gave the company a “neutral” rating in a report on Tuesday, February 13th. Melius Research raised Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a report on Monday, January 8th. Rosenblatt Securities reissued a “sell” rating and issued a $210.00 target price on shares of Arista Networks in a report on Friday, April 12th. Finally, Melius raised Arista Networks from a “hold” rating to a “buy” rating in a report on Monday, January 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Arista Networks has an average rating of “Moderate Buy” and a consensus target price of $275.59.

Insider Activity at Arista Networks

In related news, CEO Jayshree Ullal sold 22,000 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $303.00, for a total value of $6,666,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,665,300 shares in the company, valued at $504,585,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Yvonne Wassenaar sold 224 shares of the 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 owns 2,827 shares in the company, valued at $721,704.83. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jayshree Ullal sold 22,000 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $303.00, for a total value of $6,666,000.00. Following the completion of the sale, the chief executive officer now owns 1,665,300 shares of the company’s stock, valued at approximately $504,585,900. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 333,494 shares of company stock worth $95,632,321. 18.99% of the stock is currently owned by insiders.

Arista Networks Stock Performance

ANET opened at $264.70 on Friday. The business’s fifty day moving average is $279.09 and its two-hundred day moving average is $247.22. The company has a market cap of $83.01 billion, a price-to-earnings ratio of 40.29, a PEG ratio of 2.26 and a beta of 1.09. Arista Networks, Inc. has a one year low of $131.68 and a one year high of $307.74.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the business earned $1.25 earnings per share. The business’s revenue was up 20.8% on a year-over-year basis. On average, analysts predict that Arista Networks, Inc. will post 6.7 EPS for the current fiscal year.

Arista Networks Company 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.