CX Institutional Has $677,000 Stock Position in Arista Networks, Inc. (NYSE:ANET)

CX Institutional cut its position in Arista Networks, Inc. (NYSE:ANET) by 19.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,763 shares of the technology company’s stock after selling 428 shares during the quarter. CX Institutional’s holdings in Arista Networks were worth $677,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. acquired a new position in shares of Arista Networks in the 1st quarter worth approximately $26,000. Beacon Capital Management LLC raised its position 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 during the last quarter. LGT Financial Advisors LLC acquired a new position in Arista Networks in the second quarter worth $27,000. Financial Synergies Wealth Advisors Inc. grew its holdings in shares of Arista Networks by 872.7% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after purchasing an additional 96 shares during the last quarter. Finally, Byrne Asset Management LLC acquired a new stake in shares of Arista Networks in the second quarter valued at $33,000. 82.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. KeyCorp upped their target price on shares of Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. The Goldman Sachs Group increased their price objective on Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Morgan Stanley boosted their target price on Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. UBS Group raised 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. Finally, Citigroup boosted their price objective on Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $369.50.

Arista Networks Trading Up 3.6 %

Shares of Arista Networks stock opened at $406.30 on Thursday. Arista Networks, Inc. has a 12 month low of $168.25 and a 12 month high of $422.73. The company has a market capitalization of $127.32 billion, a PE ratio of 56.59, a PEG ratio of 3.21 and a beta of 1.07. The stock’s fifty day simple moving average is $364.47 and its 200 day simple moving average is $330.06.

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

Insider Buying and Selling at Arista Networks

In other news, insider John F. Mccool sold 588 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $350.50, for a total transaction of $206,094.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider John F. Mccool sold 588 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 $206,094.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Marc Taxay sold 628 shares of Arista Networks stock in a transaction that occurred on Thursday, August 1st. The shares were 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. Over the last quarter, insiders have sold 58,197 shares of company stock valued at $21,326,894. 3.54% of the stock is currently owned by corporate insiders.

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.