Stratos Wealth Advisors LLC Has $926,000 Holdings in Arista Networks, Inc. (NYSE:ANET)

Stratos Wealth Advisors LLC reduced its holdings in Arista Networks, Inc. (NYSE:ANET) by 4.7% during the 3rd quarter, Holdings Channel reports. The fund owned 2,413 shares of the technology company’s stock after selling 119 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in Arista Networks were worth $926,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ANET. Inspire Advisors LLC increased its position in Arista Networks by 318.2% in the 3rd quarter. Inspire Advisors LLC now owns 10,811 shares of the technology company’s stock valued at $4,149,000 after acquiring an additional 8,226 shares in the last quarter. Trust Point Inc. grew its position in shares of Arista Networks by 5.1% during the 3rd quarter. Trust Point Inc. now owns 2,053 shares of the technology company’s stock worth $788,000 after buying an additional 100 shares during the period. Aaron Wealth Advisors LLC raised its stake in shares of Arista Networks by 31.2% during the third quarter. Aaron Wealth Advisors LLC now owns 1,942 shares of the technology company’s stock worth $745,000 after buying an additional 462 shares during the last quarter. Claro Advisors LLC lifted its holdings in Arista Networks by 81.5% in the third quarter. Claro Advisors LLC now owns 1,069 shares of the technology company’s stock valued at $410,000 after buying an additional 480 shares during the period. Finally, Onyx Bridge Wealth Group LLC grew its holdings in Arista Networks by 10.8% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 675 shares of the technology company’s stock worth $259,000 after acquiring an additional 66 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Stock Performance

NYSE:ANET opened at $406.01 on Tuesday. The company has a market cap of $127.23 billion, a PE ratio of 56.55, a PEG ratio of 3.21 and a beta of 1.07. The stock has a 50-day simple moving average of $368.60 and a 200 day simple moving average of $332.64. Arista Networks, Inc. has a 52-week low of $168.25 and a 52-week high of $422.73.

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

Insider Transactions at Arista Networks

In related news, SVP Marc Taxay sold 628 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $350.50, for a total transaction of $220,114.00. 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 company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $394.69, for a total value of $7,893,800.00. Following the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $1,280,374.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Marc Taxay sold 628 shares of Arista Networks stock in a transaction dated Thursday, August 1st. The stock was 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 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ANET shares. Needham & Company LLC reaffirmed a “buy” rating and set a $375.00 price objective on shares of Arista Networks in a research note on Wednesday, July 31st. Morgan Stanley lifted their price objective on shares of Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. Barclays boosted their price objective on shares of Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Rosenblatt Securities boosted their price target 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. Finally, Citigroup upped their price objective on shares of Arista Networks from $385.00 to $460.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and a consensus target price of $369.50.

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.