Arista Networks, Inc. (NYSE:ANET) Shares Sold by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC lowered its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 47.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,914 shares of the technology company’s stock after selling 1,696 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Arista Networks were worth $555,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Financial Synergies Wealth Advisors Inc. boosted its position in shares of Arista Networks by 872.7% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after acquiring an additional 96 shares during the last quarter. Atticus Wealth Management LLC raised its stake 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 purchasing an additional 145 shares during the period. Rakuten Securities Inc. acquired a new position in Arista Networks in the 4th quarter valued at about $35,000. Sandy Spring Bank grew its stake in shares of Arista Networks by 33.6% in the 4th quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock valued at $37,000 after buying an additional 39 shares during the period. Finally, Alaska Permanent Fund Corp acquired a new stake in shares of Arista Networks during the 1st quarter worth approximately $37,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ANET has been the topic of a number of recent analyst reports. Evercore ISI upped their price objective on Arista Networks from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Monday, May 20th. UBS Group boosted their price objective on shares of Arista Networks from $275.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. Barclays lifted their price target on shares of Arista Networks from $311.00 to $320.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. The Goldman Sachs Group boosted their target price on Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, Wells Fargo & Company raised their price target on Arista Networks from $310.00 to $340.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and a consensus target price of $306.78.

Arista Networks Trading Up 0.1 %

Shares of ANET opened at $334.70 on Thursday. The firm has a market capitalization of $104.88 billion, a price-to-earnings ratio of 46.62, a PEG ratio of 2.95 and a beta of 1.08. The firm’s fifty day simple moving average is $298.01 and its 200-day simple moving average is $277.25. Arista Networks, Inc. has a twelve month low of $149.10 and a twelve month high of $345.89.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, May 7th. The technology company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.24. The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.55 billion. Arista Networks had a return on equity of 31.12% and a net margin of 37.64%. On average, analysts predict that Arista Networks, Inc. will post 7.05 earnings per share for the current fiscal year.

Arista Networks declared that its Board of Directors has approved a share repurchase plan on Tuesday, May 7th that allows the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization allows the technology company to purchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Arista Networks news, Director Daniel Scheinman sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $328.17, for a total transaction of $328,170.00. Following the sale, the director now owns 37,732 shares of the company’s stock, valued at $12,382,510.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Arista Networks news, Director Daniel Scheinman sold 1,000 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $328.17, for a total transaction of $328,170.00. Following the transaction, the director now owns 37,732 shares of the company’s stock, valued at $12,382,510.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jayshree Ullal sold 24,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $292.28, for a total value of $7,014,720.00. Following the completion of the sale, the chief executive officer now directly owns 1,642,800 shares of the company’s stock, valued at $480,157,584. The disclosure for this sale can be found here. Insiders sold a total of 212,950 shares of company stock worth $64,987,920 over the last 90 days. 3.54% of the stock is owned by insiders.

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.