Arista Networks, Inc. (NYSE:ANET) Shares Sold by Moody Aldrich Partners LLC

Moody Aldrich Partners LLC decreased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 17.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 700 shares of the technology company’s stock after selling 150 shares during the quarter. Moody Aldrich Partners LLC’s holdings in Arista Networks were worth $269,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Beese Fulmer Investment Management Inc. boosted its position in shares of Arista Networks by 2.0% during the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 33,746 shares of the technology company’s stock valued at $12,952,000 after acquiring an additional 652 shares during the last quarter. Global Assets Advisory LLC lifted its position in Arista Networks by 27.1% in the third quarter. Global Assets Advisory LLC now owns 1,317 shares of the technology company’s stock valued at $503,000 after buying an additional 281 shares during the last quarter. Great Lakes Retirement Inc. lifted its position in Arista Networks by 2.8% in the third quarter. Great Lakes Retirement Inc. now owns 11,262 shares of the technology company’s stock valued at $4,323,000 after buying an additional 303 shares during the last quarter. Brighton Jones LLC lifted its position in shares of Arista Networks by 12.2% during the third quarter. Brighton Jones LLC now owns 1,851 shares of the technology company’s stock worth $711,000 after purchasing an additional 201 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Arista Networks by 39,841.1% during the third quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company’s stock worth $3,358,850,000 after purchasing an additional 872,919 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Up 0.4 %

Shares of Arista Networks stock opened at $395.57 on Friday. The firm has a market capitalization of $123.96 billion, a P/E ratio of 55.09, a P/E/G ratio of 3.21 and a beta of 1.07. The firm’s 50 day moving average is $370.52 and its two-hundred day moving average is $333.77. Arista Networks, Inc. has a 52 week low of $168.25 and a 52 week high of $422.73.

Arista Networks (NYSE:ANET) last announced 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 business 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%. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the firm posted $1.41 earnings per share. As a group, research analysts expect that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Insider Transactions at Arista Networks

In other news, CEO Jayshree Ullal sold 832 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $318.12, for a total transaction of $264,675.84. Following the transaction, the chief executive officer now directly owns 17,681 shares in the company, valued at approximately $5,624,679.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Marc Taxay sold 628 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $350.50, for a total transaction of $220,114.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jayshree Ullal sold 832 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $318.12, for a total value of $264,675.84. Following the sale, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at approximately $5,624,679.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,570 shares of company stock worth $21,474,782. Insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on ANET shares. Needham & Company LLC reissued a “buy” rating and set a $375.00 price target on shares of Arista Networks in a research report on Wednesday, July 31st. KeyCorp increased their price target 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. Rosenblatt Securities increased their price target on shares of Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. Wells Fargo & Company increased their price target on shares of Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, Citigroup upped their target price on shares of Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $369.50.

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.