Arista Networks, Inc. (NYSE:ANET) Shares Sold by Beck Bode LLC

Beck Bode LLC lessened its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 26.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,160 shares of the technology company’s stock after selling 15,663 shares during the period. Arista Networks makes up approximately 3.0% of Beck Bode LLC’s portfolio, making the stock its 5th biggest holding. Beck Bode LLC’s holdings in Arista Networks were worth $15,127,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. 9258 Wealth Management LLC purchased a new position in Arista Networks in the fourth quarter valued at about $240,000. Brown Advisory Inc. purchased a new position in Arista Networks in the 4th quarter valued at approximately $220,000. PNC Financial Services Group Inc. raised its holdings in Arista Networks by 7.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 51,301 shares of the technology company’s stock worth $12,082,000 after purchasing an additional 3,763 shares during the last quarter. Gladstone Institutional Advisory LLC purchased a new stake in Arista Networks during the fourth quarter worth $267,000. Finally, Coldstream Capital Management Inc. grew its holdings in Arista Networks by 18.9% in the fourth quarter. Coldstream Capital Management Inc. now owns 2,755 shares of the technology company’s stock valued at $649,000 after purchasing an additional 437 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Trading Up 0.5 %

NYSE ANET opened at $360.97 on Wednesday. The business’s 50-day moving average price is $340.74 and its 200 day moving average price is $315.02. Arista Networks, Inc. has a twelve month low of $168.25 and a twelve month high of $376.50. The company has a market capitalization of $113.11 billion, a PE ratio of 50.27, a price-to-earnings-growth ratio of 2.70 and a beta of 1.07.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, beating 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 company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the company posted $1.41 EPS. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. Equities analysts predict that Arista Networks, Inc. will post 7.38 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on ANET. Citigroup lifted their price target on Arista Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Needham & Company LLC restated a “buy” rating and set a $375.00 target price on shares of Arista Networks in a research report on Wednesday, July 31st. Morgan Stanley raised their price objective on shares of Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. Wells Fargo & Company upped their target price on Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, KeyCorp increased their target price on Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $358.63.

Insiders Place Their Bets

In other news, SVP Kenneth Duda sold 1,689 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $321.28, for a total transaction of $542,641.92. Following the completion of the sale, the senior vice president now directly owns 182,600 shares of the company’s stock, valued at approximately $58,665,728. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Marc Taxay sold 624 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $354.71, for a total value of $221,339.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kenneth Duda sold 1,689 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $321.28, for a total transaction of $542,641.92. Following the sale, the senior vice president now owns 182,600 shares of the company’s stock, valued at $58,665,728. The disclosure for this sale can be found here. Insiders have sold a total of 106,989 shares of company stock valued at $37,891,416 over the last quarter. Company insiders own 3.54% of the company’s stock.

Arista Networks Company 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.