Arista Networks, Inc. (NYSE:ANET) Shares Sold by Gladstone Capital Management LLP

Gladstone Capital Management LLP lessened its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 99.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,000 shares of the technology company’s stock after selling 232,600 shares during the quarter. Arista Networks makes up about 0.0% of Gladstone Capital Management LLP’s portfolio, making the stock its 18th biggest holding. Gladstone Capital Management LLP’s holdings in Arista Networks were worth $350,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of ANET. FCG Investment Co boosted its position in Arista Networks by 2.3% during the second quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock worth $445,000 after acquiring an additional 29 shares during the last quarter. Old Port Advisors lifted its stake in Arista Networks by 3.5% in the 1st quarter. Old Port Advisors now owns 955 shares of the technology company’s stock worth $277,000 after purchasing an additional 32 shares in the last quarter. Fortitude Family Office LLC boosted its holdings in shares of Arista Networks by 33.3% during the 2nd quarter. Fortitude Family Office LLC now owns 132 shares of the technology company’s stock worth $46,000 after purchasing an additional 33 shares during the last quarter. Resonant Capital Advisors LLC grew its position in shares of Arista Networks by 4.1% in the second quarter. Resonant Capital Advisors LLC now owns 870 shares of the technology company’s stock valued at $305,000 after purchasing an additional 34 shares in the last quarter. Finally, Modera Wealth Management LLC lifted its position in Arista Networks by 2.1% during the second quarter. Modera Wealth Management LLC now owns 1,782 shares of the technology company’s stock worth $625,000 after buying an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. UBS Group boosted their price target on shares of Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Evercore ISI reiterated an “outperform” rating and issued a $400.00 target price on shares of Arista Networks in a report on Friday, September 13th. KeyCorp raised their price target on shares of Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Rosenblatt Securities upped their price objective on Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Finally, Morgan Stanley raised their target price on Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $358.63.

Arista Networks Price Performance

ANET stock opened at $384.46 on Monday. The business’s 50-day moving average is $341.55 and its two-hundred day moving average is $316.93. Arista Networks, Inc. has a 1 year low of $168.25 and a 1 year high of $385.50. The firm has a market capitalization of $120.48 billion, a P/E ratio of 53.55, a P/E/G ratio of 2.70 and a beta of 1.07.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results 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 company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the business posted $1.41 EPS. The firm’s revenue was up 15.9% on a year-over-year basis. On average, analysts expect that Arista Networks, Inc. will post 7.38 EPS for the current year.

Insider Activity

In other Arista Networks news, CEO Jayshree Ullal sold 832 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $318.12, for a total transaction of $264,675.84. Following the transaction, the chief executive officer now owns 17,681 shares of the company’s stock, valued at $5,624,679.72. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Jayshree Ullal sold 832 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $318.12, for a total transaction of $264,675.84. Following the transaction, the chief executive officer now directly owns 17,681 shares in the company, valued at $5,624,679.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $352.93, for a total value of $705,860.00. Following the completion of the transaction, the director now owns 52,946 shares in the company, valued at approximately $18,686,231.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 107,361 shares of company stock worth $38,024,123. Corporate insiders own 3.54% of the company’s stock.

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.