Stablepoint Partners LLC Decreases Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Stablepoint Partners LLC cut its stake in Arista Networks, Inc. (NYSE:ANET) by 35.9% in the third quarter, Holdings Channel.com reports. The firm owned 2,297 shares of the technology company’s stock after selling 1,288 shares during the quarter. Stablepoint Partners LLC’s holdings in Arista Networks were worth $882,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Benjamin Edwards Inc. purchased a new position in shares of Arista Networks during the first quarter worth $26,000. Beacon Capital Management LLC lifted its stake in Arista Networks by 500.0% in the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after acquiring an additional 65 shares during the last quarter. LGT Financial Advisors LLC purchased a new stake in shares of Arista Networks in the 2nd quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. raised its holdings in shares of Arista Networks by 872.7% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after purchasing an additional 96 shares in the last quarter. Finally, Byrne Asset Management LLC acquired a new position in shares of Arista Networks during the second quarter worth $33,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Down 0.8 %

NYSE ANET opened at $413.47 on Tuesday. The company has a 50 day moving average price of $361.31 and a two-hundred day moving average price of $328.80. Arista Networks, Inc. has a 12-month low of $168.25 and a 12-month high of $422.73. The stock has a market capitalization of $129.57 billion, a PE ratio of 57.59, a price-to-earnings-growth ratio of 3.21 and a beta of 1.07.

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. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the previous year, the firm posted $1.41 earnings per share. Arista Networks’s revenue was up 15.9% compared to the same quarter last year. As a group, equities analysts anticipate that Arista Networks, Inc. will post 7.38 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. UBS Group increased their price target on shares of Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Needham & Company LLC reissued a “buy” rating and issued a $375.00 target price on shares of Arista Networks in a report on Wednesday, July 31st. Wells Fargo & Company raised their price target on Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. KeyCorp increased their price objective on Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Finally, Bank of America lifted their target price on shares of Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, June 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $369.50.

Insiders Place Their Bets

In other 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 value of $220,114.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Marc Taxay sold 628 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 $220,114.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John F. Mccool sold 588 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $350.50, for a total value of $206,094.00. The disclosure for this sale can be found here. In 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.