9258 Wealth Management LLC cut its holdings in Arista Networks, Inc. (NYSE:ANET – Free Report) by 3.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 904 shares of the technology company’s stock after selling 32 shares during the quarter. 9258 Wealth Management LLC’s holdings in Arista Networks were worth $317,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. Beacon Capital Management LLC lifted its holdings 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 purchasing an additional 65 shares in the last quarter. Benjamin Edwards Inc. acquired a new stake in Arista Networks in the 1st quarter valued at approximately $26,000. Byrne Asset Management LLC bought a new stake in Arista Networks in the 2nd quarter valued at approximately $33,000. Sugarloaf Wealth Management LLC acquired a new position in Arista Networks during the 2nd quarter worth approximately $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Arista Networks during the 2nd quarter worth approximately $35,000. 82.47% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
ANET has been the topic of a number of research reports. Citigroup boosted their price objective 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. Erste Group Bank restated a “buy” rating on shares of Arista Networks in a research note on Friday, June 14th. Rosenblatt Securities raised their price objective on Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. upped 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. Finally, Morgan Stanley raised their price target on Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $358.63.
Arista Networks Price Performance
ANET stock opened at $328.37 on Friday. The stock has a market cap of $102.90 billion, a price-to-earnings ratio of 45.73, a price-to-earnings-growth ratio of 2.78 and a beta of 1.11. The company has a fifty day moving average price of $343.81 and a two-hundred day moving average price of $310.31. Arista Networks, Inc. has a one year low of $168.25 and a one year high of $376.50.
Arista Networks (NYSE:ANET – Get Free Report) last announced its earnings results on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, topping the consensus estimate of $1.72 by $0.38. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. Arista Networks’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.41 EPS. Research analysts anticipate that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.
Insider Transactions at Arista Networks
In related news, CEO Jayshree Ullal sold 832 shares of the business’s 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 sale, the chief executive officer now directly owns 17,681 shares in the company, valued at approximately $5,624,679.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Arista Networks news, CEO Jayshree Ullal sold 832 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $318.12, for a total value of $264,675.84. Following the completion of the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $5,624,679.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $325.88, for a total transaction of $6,517,600.00. Following the transaction, the senior vice president now owns 3,244 shares in the company, valued at approximately $1,057,154.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 126,300 shares of company stock worth $44,194,544. 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.
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