Arista Networks, Inc. (NYSE:ANET) Holdings Trimmed by Private Wealth Partners LLC

Private Wealth Partners LLC reduced its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 5.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,673 shares of the technology company’s stock after selling 100 shares during the period. Private Wealth Partners LLC’s holdings in Arista Networks were worth $586,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. BOKF NA lifted its stake in shares of Arista Networks by 79.0% in the 2nd quarter. BOKF NA now owns 20,928 shares of the technology company’s stock valued at $7,335,000 after purchasing an additional 9,235 shares during the last quarter. Johnson Investment Counsel Inc. acquired a new stake in shares of Arista Networks in the 2nd quarter valued at $237,000. Hazlett Burt & Watson Inc. lifted its stake in shares of Arista Networks by 24.3% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 665 shares of the technology company’s stock valued at $234,000 after purchasing an additional 130 shares during the last quarter. Mitchell Sinkler & Starr PA lifted its stake in shares of Arista Networks by 49.0% in the 2nd quarter. Mitchell Sinkler & Starr PA now owns 2,235 shares of the technology company’s stock valued at $743,000 after purchasing an additional 735 shares during the last quarter. Finally, LPL Financial LLC lifted its position in Arista Networks by 20.6% during the 2nd quarter. LPL Financial LLC now owns 245,464 shares of the technology company’s stock worth $86,030,000 after acquiring an additional 42,002 shares during the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Evercore ISI boosted their target price on shares of Arista Networks from $340.00 to $400.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Bank of America upped their price objective on shares of Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Citigroup increased their price target on shares of Arista Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Rosenblatt Securities upped their price objective on Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a research note on Wednesday, July 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $375.00 price target on shares of Arista Networks in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and an average price target of $358.63.

Arista Networks Trading Up 4.9 %

Shares of NYSE ANET opened at $342.65 on Thursday. The firm’s 50-day moving average is $341.40 and its 200-day moving average is $312.45. The firm has a market capitalization of $107.37 billion, a PE ratio of 47.72, a price-to-earnings-growth ratio of 2.48 and a beta of 1.07. Arista Networks, Inc. has a 1 year low of $168.25 and a 1 year high of $376.50.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data 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 business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the previous year, the firm earned $1.41 earnings per share. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Insider Activity at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $352.93, for a total value of $705,860.00. Following the completion of the sale, the director now owns 52,946 shares of the company’s stock, valued at $18,686,231.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Arista Networks news, CEO Jayshree Ullal sold 25,000 shares of Arista Networks stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $347.00, for a total value of $8,675,000.00. Following the transaction, the chief executive officer now owns 1,600,800 shares of the company’s stock, valued at $555,477,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $352.93, for a total value of $705,860.00. Following the completion of the sale, the director now directly owns 52,946 shares in the company, valued at approximately $18,686,231.78. The disclosure for this sale can be found here. Insiders have sold 107,989 shares of company stock worth $38,219,586 in the last ninety days. Company insiders own 3.54% of the company’s stock.

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.