Arista Networks, Inc. (NYSE:ANET) Shares Sold by Marietta Investment Partners LLC

Marietta Investment Partners LLC trimmed its position in shares of Arista Networks, Inc. (NYSE:ANET) by 5.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,791 shares of the technology company’s stock after selling 1,893 shares during the period. Arista Networks makes up about 2.4% of Marietta Investment Partners LLC’s holdings, making the stock its 7th biggest holding. Marietta Investment Partners LLC’s holdings in Arista Networks were worth $10,792,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Benjamin Edwards Inc. acquired a new stake in Arista Networks in the 1st quarter valued at $26,000. Beacon Capital Management LLC increased its holdings in Arista Networks by 500.0% in the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after purchasing an additional 65 shares in the last quarter. LGT Financial Advisors LLC acquired a new stake in Arista Networks in the 2nd quarter valued at $27,000. Financial Synergies Wealth Advisors Inc. increased its holdings 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 valued at $31,000 after purchasing an additional 96 shares in the last quarter. Finally, Byrne Asset Management LLC acquired a new stake in Arista Networks in the 2nd quarter valued at $33,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on ANET shares. Erste Group Bank reiterated a “buy” rating on shares of Arista Networks in a report on Friday, June 14th. UBS Group increased their price target on Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Jefferies Financial Group increased their price target on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Bank of America upped their price objective on shares of Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Finally, Wells Fargo & Company upped their price objective on shares of Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $358.63.

Insider Buying and Selling

In related news, CEO Jayshree Ullal sold 25,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $357.00, for a total transaction of $8,925,000.00. Following the sale, the chief executive officer now owns 1,595,800 shares in the company, valued at $569,700,600. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Arista Networks news, CEO Jayshree Ullal sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $357.00, for a total value of $8,925,000.00. Following the sale, the chief executive officer now owns 1,595,800 shares in the company, valued at $569,700,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $352.93, for a total transaction of $705,860.00. Following 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. Insiders have sold a total of 107,361 shares of company stock worth $38,024,123 over the last quarter. 3.54% of the stock is owned by company insiders.

Arista Networks Stock Performance

Shares of ANET stock opened at $384.46 on Monday. The stock has a market capitalization of $120.48 billion, a price-to-earnings ratio of 53.55, a PEG ratio of 2.70 and a beta of 1.07. Arista Networks, Inc. has a one year low of $168.25 and a one year high of $385.50. The company’s 50-day simple moving average is $341.55 and its 200-day simple moving average is $316.93.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.38. The firm 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%. Arista Networks’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.41 earnings per share. As a group, research analysts forecast that Arista Networks, Inc. will post 7.38 EPS 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.