Arista Networks, Inc. (NYSE:ANET) Shares Sold by ASB Consultores LLC

ASB Consultores LLC lessened its holdings in Arista Networks, Inc. (NYSE:ANET) by 5.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 933 shares of the technology company’s stock after selling 56 shares during the quarter. ASB Consultores LLC’s holdings in Arista Networks were worth $327,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. UniSuper Management Pty Ltd grew its stake in shares of Arista Networks by 20.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 36,329 shares of the technology company’s stock worth $10,535,000 after purchasing an additional 6,133 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Arista Networks by 7.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 51,301 shares of the technology company’s stock worth $12,082,000 after purchasing an additional 3,763 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of Arista Networks during the 1st quarter worth approximately $1,405,000. M&G Plc acquired a new stake in shares of Arista Networks during the 1st quarter worth approximately $3,238,000. Finally, Nordea Investment Management AB grew its stake in shares of Arista Networks by 32.5% during the 1st quarter. Nordea Investment Management AB now owns 26,799 shares of the technology company’s stock worth $7,810,000 after purchasing an additional 6,578 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Trading Up 4.9 %

Shares of NYSE:ANET opened at $379.36 on Friday. The business has a 50-day moving average price of $341.09 and a 200 day moving average price of $315.79. The company has a market capitalization of $118.88 billion, a price-to-earnings ratio of 52.84, a PEG ratio of 2.70 and a beta of 1.07. Arista Networks, Inc. has a 12-month low of $168.25 and a 12-month high of $380.54.

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

Insider Buying and Selling

In other Arista Networks news, Director Kelly Bodnar Battles sold 216 shares of Arista Networks stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $324.02, for a total value of $69,988.32. Following the completion of the transaction, the director now directly owns 2,726 shares of the company’s stock, valued at approximately $883,278.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Marc Taxay sold 624 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $354.71, for a total transaction of $221,339.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kelly Bodnar Battles sold 216 shares of the business’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 value of $69,988.32. Following the sale, the director now owns 2,726 shares of the company’s stock, valued at approximately $883,278.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 107,361 shares of company stock valued at $38,024,123. 3.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ANET shares. JPMorgan Chase & Co. raised their price objective on shares of Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Evercore ISI reissued an “outperform” rating and issued a $400.00 price target on shares of Arista Networks in a research note on Friday, September 13th. Erste Group Bank reissued a “buy” rating on shares of Arista Networks in a research note on Friday, June 14th. UBS Group lifted their price target on shares of Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Finally, Barclays lifted their price target on shares of Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $358.63.

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.