Arista Networks, Inc. (NYSE:ANET) Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management trimmed its position in shares of Arista Networks, Inc. (NYSE:ANET) by 48.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 979 shares of the technology company’s stock after selling 928 shares during the quarter. Ritholtz Wealth Management’s holdings in Arista Networks were worth $376,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. UniSuper Management Pty Ltd grew its holdings in shares of Arista Networks by 20.3% in the 1st quarter. UniSuper Management Pty Ltd now owns 36,329 shares of the technology company’s stock worth $10,535,000 after acquiring an additional 6,133 shares during the period. Central Pacific Bank Trust Division acquired a new position in shares of Arista Networks in the first quarter worth $1,405,000. M&G Plc acquired a new position in shares of Arista Networks in the first quarter worth $3,238,000. Nordea Investment Management AB lifted its position in shares of Arista Networks by 32.5% in the first quarter. Nordea Investment Management AB now owns 26,799 shares of the technology company’s stock valued at $7,810,000 after acquiring an additional 6,578 shares in the last quarter. Finally, Deepwater Asset Management LLC acquired a new stake in shares of Arista Networks during the second quarter valued at $15,084,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Stock Up 3.6 %

Arista Networks stock opened at $406.30 on Thursday. The firm has a market capitalization of $127.32 billion, a P/E ratio of 56.59, a PEG ratio of 3.21 and a beta of 1.07. The firm has a fifty day moving average of $364.47 and a 200-day moving average of $330.06. Arista Networks, Inc. has a 52-week low of $168.25 and a 52-week high of $422.73.

Arista Networks (NYSE:ANET) last released 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. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period last year, the company posted $1.41 earnings per share. The firm’s revenue was up 15.9% compared to the same quarter last year. On average, research analysts expect that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ANET shares. Rosenblatt Securities upped their target price on shares of Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Morgan Stanley upped their price objective on shares of Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. The Goldman Sachs Group lifted their target price on shares of Arista Networks from $390.00 to $430.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. UBS Group increased their price target on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Finally, Bank of America lifted their price objective on Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $369.50.

Insider Buying and Selling

In other news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the sale, the senior vice president now owns 3,244 shares in the company, valued at $1,280,374.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the completion of the sale, the senior vice president now directly owns 3,244 shares in the company, valued at $1,280,374.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jayshree Ullal sold 832 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $318.12, for a total value of $264,675.84. Following the completion of the transaction, the chief executive officer now owns 17,681 shares in the company, valued at approximately $5,624,679.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,197 shares of company stock valued at $21,326,894. Corporate 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.