Latest Insider Selling: 5 Large-Cap Tech Stocks to Watch

2. Arista Networks Inc (NYSE:ANET)

Number of Hedge Fund Investors: 64

Arista Networks Inc (NYSE:ANET) CEO Jayshree Ullal on March 19 sold 20,000 Arista Networks Inc (NYSE:ANET) shares at $284.00 per share. In another transaction dated March 21 she sold 21,500 shares of Arista Networks Inc (NYSE:ANET) at $299.00 per share. Since March 19 the stock has gained about 6.5%.

Madison Mid Cap Fund stated the following regarding Arista Networks, Inc. (NYSE:ANET) in its fourth quarter 2023 investor letter:

“The top five contributors for the quarter were Gartner, Dollar Tree, Arista Networks, Inc. (NYSE:ANET), Glacier Bancorp, and Ross Stores. Arista Networks continues to produce robust revenue growth, as its emerging Enterprise business is offsetting slowing demand from their core ‘Cloud Titan’ customers. While sales in relation to AI are trickling in, most of the benefit is still to be realized.

During the quarter we sold two insurance holdings, trimmed our position in Arista Networks. We trimmed Arista Networks as its stock became an outsized position due to strong performance, but remain optimistic about the company’s prospects.”