Signaturefd LLC Lowers Position in Arista Networks, Inc. (NYSE:ANET)

Signaturefd LLC cut its stake in Arista Networks, Inc. (NYSE:ANET) by 2.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,671 shares of the technology company’s stock after selling 144 shares during the quarter. Signaturefd LLC’s holdings in Arista Networks were worth $2,177,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Sequoia Financial Advisors LLC lifted its holdings in shares of Arista Networks by 5.6% during the third quarter. Sequoia Financial Advisors LLC now owns 5,917 shares of the technology company’s stock valued at $2,271,000 after purchasing an additional 316 shares during the last quarter. Argus Investors Counsel Inc. lifted its holdings in shares of Arista Networks by 6.2% during the third quarter. Argus Investors Counsel Inc. now owns 1,096 shares of the technology company’s stock valued at $421,000 after purchasing an additional 64 shares during the last quarter. Vicus Capital purchased a new position in shares of Arista Networks during the third quarter valued at approximately $211,000. Foundations Investment Advisors LLC lifted its holdings in shares of Arista Networks by 5.0% during the third quarter. Foundations Investment Advisors LLC now owns 653 shares of the technology company’s stock valued at $251,000 after purchasing an additional 31 shares during the last quarter. Finally, Precision Wealth Strategies LLC raised its holdings in Arista Networks by 5.4% in the 3rd quarter. Precision Wealth Strategies LLC now owns 1,334 shares of the technology company’s stock worth $512,000 after acquiring an additional 68 shares during the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Stock Performance

ANET opened at $396.62 on Wednesday. Arista Networks, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $422.73. The firm’s fifty day moving average is $369.61 and its 200 day moving average is $333.34. The stock has a market cap of $124.29 billion, a price-to-earnings ratio of 55.24, a price-to-earnings-growth ratio of 3.21 and a beta of 1.07.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.38. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. Arista Networks’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.41 EPS. On average, equities research analysts predict that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ANET. Evercore ISI boosted their price objective on shares of Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Barclays boosted their price objective on shares of Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Rosenblatt Securities boosted 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. KeyCorp boosted their price objective on shares of Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Finally, The Goldman Sachs Group lifted their target price on shares of Arista Networks from $390.00 to $430.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $369.50.

Insider Activity

In other news, SVP Marc Taxay sold 628 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $350.50, for a total transaction of $220,114.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $342.28, for a total transaction of $684,560.00. Following the transaction, the director now directly owns 50,946 shares in the company, valued at approximately $17,437,796.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Marc Taxay sold 628 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $350.50, for a total transaction of $220,114.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,197 shares of company stock worth $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.