Cim LLC Has $1.81 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Cim LLC lessened its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 50.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,500 shares of the technology company’s stock after selling 5,512 shares during the period. Cim LLC’s holdings in Arista Networks were worth $1,806,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new stake in shares of Arista Networks in the second quarter valued at about $9,858,000. NCP Inc. bought a new position in Arista Networks in the 2nd quarter valued at approximately $105,000. Kestra Investment Management LLC acquired a new stake in shares of Arista Networks during the 2nd quarter valued at $707,000. Clearbridge Investments LLC grew its holdings in shares of Arista Networks by 2.0% during the second quarter. Clearbridge Investments LLC now owns 344,222 shares of the technology company’s stock worth $120,643,000 after purchasing an additional 6,638 shares during the last quarter. Finally, Dana Investment Advisors Inc. lifted its holdings in shares of Arista Networks by 3.4% during the second quarter. Dana Investment Advisors Inc. now owns 3,195 shares of the technology company’s stock worth $1,120,000 after purchasing an additional 105 shares during the period. Institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

ANET has been the subject of several recent analyst reports. Erste Group Bank reiterated a “buy” rating on shares of Arista Networks in a research report on Friday, June 14th. KeyCorp raised their price objective on Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Citigroup lifted their price target on Arista Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Jefferies Financial Group boosted their target price on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Rosenblatt Securities raised their price objective on shares of Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $364.81.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Kelly Bodnar Battles sold 372 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $356.74, for a total transaction of $132,707.28. Following the sale, the director now directly owns 2,565 shares in the company, valued at $915,038.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $370.70, for a total value of $7,414,000.00. Following the completion of the sale, the senior vice president now owns 3,244 shares in the company, valued at $1,202,550.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kelly Bodnar Battles sold 372 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $356.74, for a total value of $132,707.28. Following the transaction, the director now directly owns 2,565 shares in the company, valued at approximately $915,038.10. The disclosure for this sale can be found here. Insiders have sold 54,157 shares of company stock worth $19,291,193 over the last quarter. 3.54% of the stock is currently owned by company insiders.

Arista Networks Stock Performance

NYSE:ANET opened at $381.72 on Wednesday. Arista Networks, Inc. has a one year low of $168.25 and a one year high of $395.82. The firm has a 50-day simple moving average of $347.22 and a 200-day simple moving average of $322.12. The firm has a market cap of $119.62 billion, a P/E ratio of 53.16, a P/E/G ratio of 3.04 and a beta of 1.07.

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

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.