Onyx Bridge Wealth Group LLC Increases Position in Arista Networks, Inc. (NYSE:ANET)

Onyx Bridge Wealth Group LLC raised its position in shares of Arista Networks, Inc. (NYSE:ANET) by 10.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 675 shares of the technology company’s stock after buying an additional 66 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in Arista Networks were worth $259,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Benjamin Edwards Inc. purchased a new position in Arista Networks during the 1st quarter valued at about $26,000. Beacon Capital Management LLC lifted its position in shares of Arista Networks by 500.0% during the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after purchasing an additional 65 shares in the last quarter. LGT Financial Advisors LLC purchased a new position in shares of Arista Networks in the second quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. grew its holdings in shares of Arista Networks by 872.7% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after purchasing an additional 96 shares in the last quarter. Finally, Byrne Asset Management LLC purchased a new stake in Arista Networks during the 2nd quarter worth approximately $33,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Trading Down 1.3 %

ANET stock opened at $402.00 on Friday. The business has a 50 day simple moving average of $367.25 and a 200-day simple moving average of $331.31. The company has a market capitalization of $125.97 billion, a P/E ratio of 55.99, a PEG ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a twelve month low of $168.25 and a twelve month high of $422.73.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, beating the consensus estimate of $1.72 by $0.38. The firm had revenue of $1.69 billion during 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 in the prior year, the business earned $1.41 EPS. Research analysts predict that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

Analyst Ratings Changes

ANET has been the subject of several recent research reports. The Goldman Sachs Group raised their price target on shares of Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. UBS Group lifted their target price on Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Wells Fargo & Company upped their price target on Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Needham & Company LLC reiterated a “buy” rating and issued a $375.00 price objective on shares of Arista Networks in a research note on Wednesday, July 31st. Finally, KeyCorp boosted their price objective on Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $369.50.

Insider Activity at Arista Networks

In other news, SVP Marc Taxay sold 628 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $350.50, for a total value of $220,114.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Kenneth Duda sold 1,592 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $349.55, for a total transaction of $556,483.60. Following the transaction, the senior vice president now owns 186,600 shares of the company’s stock, valued at $65,226,030. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Marc Taxay sold 628 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $350.50, for a total value of $220,114.00. The disclosure for this sale can be found here. Insiders have sold a total of 58,197 shares of company stock worth $21,326,894 in the last three months. Insiders own 3.54% of the company’s stock.

About Arista Networks

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.