Segment Wealth Management LLC Increases Stock Position in Arista Networks, Inc. (NYSE:ANET)

Segment Wealth Management LLC boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 5.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,006 shares of the technology company’s stock after purchasing an additional 332 shares during the quarter. Segment Wealth Management LLC’s holdings in Arista Networks were worth $2,689,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BLB&B Advisors LLC raised its position in Arista Networks by 0.9% in the 3rd quarter. BLB&B Advisors LLC now owns 38,275 shares of the technology company’s stock worth $14,691,000 after buying an additional 356 shares during the last quarter. Waldron Private Wealth LLC bought a new position in shares of Arista Networks in the 3rd quarter worth approximately $203,000. Eastern Bank bought a new stake in Arista Networks during the third quarter valued at approximately $21,286,000. Sequoia Financial Advisors LLC increased its holdings in Arista Networks by 5.6% during the third quarter. Sequoia Financial Advisors LLC now owns 5,917 shares of the technology company’s stock valued at $2,271,000 after buying an additional 316 shares during the last quarter. Finally, Argus Investors Counsel Inc. raised its position in Arista Networks by 6.2% in the third quarter. Argus Investors Counsel Inc. now owns 1,096 shares of the technology company’s stock worth $421,000 after acquiring an additional 64 shares during the period. Institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling

In related news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $394.69, for a total value of $7,893,800.00. Following the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $1,280,374.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction on Monday, October 7th. The stock was sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the completion of the sale, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $1,280,374.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jayshree Ullal sold 836 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $386.68, for a total transaction of $323,264.48. Following the completion of the transaction, the chief executive officer now owns 17,681 shares in the company, valued at approximately $6,836,889.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,197 shares of company stock valued at $21,326,894. Company insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on ANET shares. Evercore ISI upped their price objective on Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Barclays lifted their price objective on Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. UBS Group increased their target price on shares of Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Rosenblatt Securities lifted their price target on shares of Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. One investment 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $369.50.

Arista Networks Price Performance

Shares of ANET stock opened at $396.62 on Wednesday. The company has a market cap of $124.29 billion, a PE ratio of 55.24, a price-to-earnings-growth ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a 1 year low of $168.25 and a 1 year high of $422.73. The stock’s 50 day simple moving average is $369.61 and its two-hundred day simple moving average is $333.34.

Arista Networks (NYSE:ANET) last issued its quarterly 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 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 last year, the company earned $1.41 earnings per share. Arista Networks’s revenue was up 15.9% on a year-over-year basis. Equities research analysts expect that Arista Networks, Inc. will post 7.38 EPS for the current year.

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.