Parkside Financial Bank & Trust Sells 44 Shares of Arista Networks, Inc. (NYSE:ANET)

Parkside Financial Bank & Trust reduced its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 6.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 610 shares of the technology company’s stock after selling 44 shares during the period. Parkside Financial Bank & Trust’s holdings in Arista Networks were worth $214,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Benjamin Edwards Inc. bought a new stake in shares of Arista Networks during the 1st quarter worth $26,000. Beacon Capital Management LLC lifted its holdings in shares of Arista Networks by 500.0% during the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after acquiring an additional 65 shares during the last quarter. LGT Financial Advisors LLC purchased a new position in Arista Networks in the 2nd quarter worth $27,000. Financial Synergies Wealth Advisors Inc. raised its position in Arista Networks by 872.7% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after purchasing an additional 96 shares during the period. Finally, Byrne Asset Management LLC purchased a new position in Arista Networks in the 2nd quarter worth $33,000. 82.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Rosenblatt Securities lifted their target price on shares of Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. Erste Group Bank reiterated a “buy” rating on shares of Arista Networks in a research report on Friday, June 14th. Evercore ISI lifted their target price on shares of Arista Networks from $340.00 to $400.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Jefferies Financial Group lifted their target price on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company lifted their target price on shares of Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $358.63.

Insider Buying and Selling

In related news, CEO Jayshree Ullal sold 25,000 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $347.00, for a total transaction of $8,675,000.00. Following the sale, the chief executive officer now owns 1,600,800 shares of the company’s stock, valued at $555,477,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Jayshree Ullal sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $347.00, for a total value of $8,675,000.00. Following the transaction, the chief executive officer now owns 1,600,800 shares in the company, valued at $555,477,600. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kelly Bodnar Battles sold 216 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $324.02, for a total transaction of $69,988.32. Following the completion of the transaction, the director now owns 2,726 shares in the company, valued at approximately $883,278.52. The disclosure for this sale can be found here. Insiders have sold 126,300 shares of company stock valued at $44,194,544 over the last quarter. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

Shares of NYSE ANET opened at $314.37 on Friday. Arista Networks, Inc. has a 1 year low of $168.25 and a 1 year high of $376.50. The company’s 50-day moving average is $343.09 and its 200 day moving average is $310.67. The stock has a market capitalization of $98.51 billion, a P/E ratio of 43.78, a P/E/G ratio of 2.78 and a beta of 1.11.

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

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.