UMB Bank n.a. Reduces Stake in Arista Networks, Inc. (NYSE:ANET)

UMB Bank n.a. reduced its position in Arista Networks, Inc. (NYSE:ANET) by 0.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,525 shares of the technology company’s stock after selling 87 shares during the period. UMB Bank n.a.’s holdings in Arista Networks were worth $5,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of ANET. Benjamin Edwards Inc. purchased a new position in Arista Networks during the first quarter valued at $26,000. Beacon Capital Management LLC lifted its position in shares of Arista Networks by 500.0% in the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after acquiring an additional 65 shares in the last quarter. LGT Financial Advisors LLC purchased a new position in shares of Arista Networks in the second quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. lifted its position in shares of Arista Networks by 872.7% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after acquiring an additional 96 shares in the last quarter. Finally, Byrne Asset Management LLC purchased a new position in shares of Arista Networks in the second quarter valued at about $33,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Arista Networks

In related news, 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 completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, 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 transaction of $264,675.84. Following the completion of the transaction, the chief executive officer now directly owns 17,681 shares in the company, valued at approximately $5,624,679.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kelly Bodnar Battles sold 216 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $324.02, for a total value of $69,988.32. Following the transaction, the director now owns 2,726 shares of the company’s stock, valued at approximately $883,278.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,197 shares of company stock valued at $21,326,894 in the last three months. 3.54% of the stock is currently owned by company insiders.

Arista Networks Stock Up 0.7 %

Shares of NYSE ANET opened at $409.85 on Friday. The business’s 50 day moving average price is $355.96 and its 200 day moving average price is $326.09. The firm has a market cap of $128.43 billion, a P/E ratio of 57.08, a P/E/G ratio of 3.04 and a beta of 1.07. Arista Networks, Inc. has a 52 week low of $168.25 and a 52 week high of $410.71.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the company posted $1.41 earnings per share. Arista Networks’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, research analysts expect that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ANET has been the topic of several research analyst reports. Citigroup boosted their price objective on Arista Networks from $385.00 to $460.00 and gave the company a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their target price on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Bank of America lifted their target price on Arista Networks from $320.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Rosenblatt Securities lifted their target price on Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. Finally, Morgan Stanley boosted their price objective on Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $369.50.

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.