Arista Networks, Inc. (NYSE:ANET) Position Cut by VitalStone Financial LLC

VitalStone Financial LLC lowered its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 92.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90 shares of the technology company’s stock after selling 1,092 shares during the period. VitalStone Financial LLC’s holdings in Arista Networks were worth $32,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. SP Asset Management LLC raised its stake in shares of Arista Networks by 2.3% during the second quarter. SP Asset Management LLC now owns 1,988 shares of the technology company’s stock valued at $697,000 after purchasing an additional 44 shares in the last quarter. Coldstream Capital Management Inc. raised its position in shares of Arista Networks by 14.6% during the 2nd quarter. Coldstream Capital Management Inc. now owns 3,856 shares of the technology company’s stock worth $1,351,000 after buying an additional 492 shares in the last quarter. Gryphon Financial Partners LLC bought a new position in shares of Arista Networks in the second quarter valued at approximately $224,000. Andra AP fonden boosted its stake in Arista Networks by 61.1% during the 2nd quarter. Andra AP fonden now owns 78,800 shares of the technology company’s stock valued at $27,618,000 after purchasing an additional 29,900 shares in the last quarter. Finally, Royal London Asset Management Ltd. grew its holdings in Arista Networks by 1.4% during the second quarter. Royal London Asset Management Ltd. now owns 133,892 shares of the technology company’s stock worth $46,926,000 after acquiring an additional 1,824 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ANET. Erste Group Bank restated a “buy” rating on shares of Arista Networks in a report on Friday, June 14th. UBS Group lifted their target price on shares of Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Wells Fargo & Company upped their price target on shares of Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $375.00 price objective on shares of Arista Networks in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group boosted their target price on shares of Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $358.63.

Arista Networks Price Performance

NYSE ANET opened at $342.65 on Thursday. Arista Networks, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $376.50. The stock’s 50-day moving average is $341.40 and its two-hundred day moving average is $312.45. The firm has a market cap of $107.37 billion, a P/E ratio of 47.72, a price-to-earnings-growth ratio of 2.48 and a beta of 1.07.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.38. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same period last year, the business earned $1.41 EPS. On average, equities analysts expect that Arista Networks, Inc. will post 7.38 EPS for the current year.

Insider Transactions at Arista Networks

In related news, Director Kelly Bodnar Battles sold 216 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $324.02, for a total value of $69,988.32. Following the transaction, the director now directly owns 2,726 shares in the company, valued at approximately $883,278.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Arista Networks news, Director Kelly Bodnar Battles sold 216 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $324.02, for a total transaction of $69,988.32. Following the completion of the sale, the director now directly owns 2,726 shares in the company, valued at $883,278.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jayshree Ullal sold 25,000 shares of Arista Networks stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $347.00, for a total value of $8,675,000.00. Following the completion of the transaction, the chief executive officer now owns 1,600,800 shares in the company, valued at $555,477,600. The disclosure for this sale can be found here. Over the last three months, insiders sold 107,989 shares of company stock worth $38,219,586. 3.54% of the stock is owned by insiders.

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.