Arista Networks, Inc. (NYSE:ANET) Shares Sold by Hartford Investment Management Co.

Posted by Defense World Staff on Mar 31st, 2023

Hartford Investment Management Co. reduced its position in Arista Networks, Inc. (NYSE:ANET – Get Rating) by 23.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,924 shares of the technology company’s stock after selling 5,435 shares during the period. Hartford Investment Management Co.’s holdings in Arista Networks were worth $2,175,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Trifecta Capital Advisors LLC acquired a new position in Arista Networks during the 4th quarter worth approximately $27,000. Janiczek Wealth Management LLC lifted its position in Arista Networks by 73.0% during the 3rd quarter. Janiczek Wealth Management LLC now owns 275 shares of the technology company’s stock worth $30,000 after acquiring an additional 116 shares in the last quarter. MV Capital Management Inc. lifted its position in Arista Networks by 172.7% during the 3rd quarter. MV Capital Management Inc. now owns 270 shares of the technology company’s stock worth $30,000 after acquiring an additional 171 shares in the last quarter. Accurate Wealth Management LLC acquired a new position in Arista Networks during the 4th quarter worth approximately $58,000. Finally, EverSource Wealth Advisors LLC lifted its position in Arista Networks by 541.7% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 539 shares of the technology company’s stock worth $61,000 after acquiring an additional 455 shares in the last quarter. 64.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Needham & Company LLC boosted their price target on Arista Networks from $155.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, February 14th. Piper Sandler cut their target price on Arista Networks from $164.00 to $155.00 in a research report on Tuesday, January 17th. The Goldman Sachs Group assumed coverage on Arista Networks in a research report on Monday, March 6th. They issued a “buy” rating on the stock. Credit Suisse Group upped their target price on Arista Networks from $140.00 to $146.00 and gave the company a “neutral” rating in a research report on Tuesday, February 14th. Finally, Barclays upped their target price on Arista Networks from $165.00 to $177.00 and gave the company an “overweight” rating in a research report on Tuesday, February 14th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $175.47.

Insider Activity at Arista Networks

In related news, insider John F. Mccool sold 996 shares of Arista Networks stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $122.91, for a total value of $122,418.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider John F. Mccool sold 996 shares of Arista Networks stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $122.91, for a total value of $122,418.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jayshree Ullal sold 140,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $147.81, for a total transaction of $20,693,400.00. Following the completion of the sale, the chief executive officer now directly owns 1,763,200 shares of the company’s stock, valued at $260,618,592. The disclosure for this sale can be found here. Insiders have sold a total of 293,687 shares of company stock worth $42,260,466 in the last ninety days. 19.59% of the stock is owned by insiders.

Arista Networks Stock Down 0.0 %

Shares of NYSE:ANET opened at $162.49 on Friday. The company has a market cap of $49.79 billion, a PE ratio of 38.05, a P/E/G ratio of 2.30 and a beta of 1.24. The company’s 50-day moving average price is $142.35 and its 200 day moving average price is $128.29. Arista Networks, Inc. has a fifty-two week low of $89.11 and a fifty-two week high of $171.44.

Arista Networks (NYSE:ANET – Get Rating) last issued its quarterly earnings data on Monday, February 13th. The technology company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.20. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.20 billion. Arista Networks had a net margin of 30.87% and a return on equity of 30.00%. Arista Networks’s quarterly revenue was up 54.7% compared to the same quarter last year. During the same period last year, the firm posted $0.66 EPS. As a group, equities analysts anticipate that Arista Networks, Inc. will post 5.16 EPS for the current year.

About Arista Networks

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Arista Networks, Inc engages in the business of developing, marketing, and selling cloud networking solutions. The firm is also involved in switching and routing platforms and related network applications. The company was founded by Andreas Bechtolsheim, David Cheriton, and Kenneth Duda in November 2004 and is headquartered in Santa Clara, CA.