Arista Networks, Inc. (NYSE:ANET) Shares Sold by Inspirion Wealth Advisors LLC

Inspirion Wealth Advisors LLC reduced its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 20.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 802 shares of the technology company’s stock after selling 210 shares during the period. Inspirion Wealth Advisors LLC’s holdings in Arista Networks were worth $308,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FCG Investment Co grew its position in shares of Arista Networks by 2.3% during the second quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock worth $445,000 after buying an additional 29 shares in the last quarter. Old Port Advisors increased its position in shares of Arista Networks by 3.5% in the 1st quarter. Old Port Advisors now owns 955 shares of the technology company’s stock valued at $277,000 after purchasing an additional 32 shares during the last quarter. Fortitude Family Office LLC raised its holdings in shares of Arista Networks by 33.3% in the 2nd quarter. Fortitude Family Office LLC now owns 132 shares of the technology company’s stock valued at $46,000 after purchasing an additional 33 shares in the last quarter. Resonant Capital Advisors LLC lifted its position in shares of Arista Networks by 4.1% during the 2nd quarter. Resonant Capital Advisors LLC now owns 870 shares of the technology company’s stock worth $305,000 after purchasing an additional 34 shares during the last quarter. Finally, Modera Wealth Management LLC increased its holdings in Arista Networks by 2.1% in the second quarter. Modera Wealth Management LLC now owns 1,782 shares of the technology company’s stock valued at $625,000 after buying an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $375.00 price objective on shares of Arista Networks in a report on Wednesday, July 31st. Rosenblatt Securities increased their price target on shares of Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a research note on Wednesday, July 31st. Piper Sandler boosted their price objective on shares of Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Barclays increased their target price on shares of Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, The Goldman Sachs Group boosted their price target on shares of Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $364.81.

Insider Activity at Arista Networks

In related news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $382.52, for a total value of $765,040.00. Following the transaction, the director now directly owns 46,946 shares of the company’s stock, valued at approximately $17,957,783.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider John F. Mccool sold 580 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $388.37, for a total value of $225,254.60. Following the transaction, the insider now owns 72 shares of the company’s stock, valued at approximately $27,962.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $382.52, for a total transaction of $765,040.00. Following the sale, the director now directly owns 46,946 shares of the company’s stock, valued at approximately $17,957,783.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 57,361 shares of company stock worth $20,523,830. 3.54% of the stock is owned by company insiders.

Arista Networks Price Performance

ANET stock traded up $5.86 during midday trading on Friday, hitting $395.97. The stock had a trading volume of 1,064,956 shares, compared to its average volume of 2,263,464. Arista Networks, Inc. has a 12-month low of $168.25 and a 12-month high of $396.80. The firm has a market cap of $124.08 billion, a PE ratio of 55.15, a price-to-earnings-growth ratio of 3.04 and a beta of 1.07. The company’s 50-day moving average price is $351.55 and its 200 day moving average price is $323.80.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, beating the consensus estimate of $1.72 by $0.38. The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The firm’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.41 EPS. As a group, sell-side analysts anticipate 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.