Hennion & Walsh Asset Management Inc. Has $6.97 Million Holdings in Arista Networks, Inc. (NYSE:ANET)

Hennion & Walsh Asset Management Inc. decreased its position in Arista Networks, Inc. (NYSE:ANET) by 12.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,150 shares of the technology company’s stock after selling 2,615 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Arista Networks were worth $6,966,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Global Assets Advisory LLC lifted its stake in Arista Networks by 27.1% in the 3rd quarter. Global Assets Advisory LLC now owns 1,317 shares of the technology company’s stock valued at $503,000 after acquiring an additional 281 shares in the last quarter. Great Lakes Retirement Inc. lifted its position in shares of Arista Networks by 2.8% in the third quarter. Great Lakes Retirement Inc. now owns 11,262 shares of the technology company’s stock worth $4,323,000 after purchasing an additional 303 shares in the last quarter. Brighton Jones LLC lifted its position in shares of Arista Networks by 12.2% in the third quarter. Brighton Jones LLC now owns 1,851 shares of the technology company’s stock worth $711,000 after purchasing an additional 201 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Arista Networks by 39,841.1% during the third quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company’s stock worth $3,358,850,000 after purchasing an additional 872,919 shares during the last quarter. Finally, Greenleaf Trust increased its stake in Arista Networks by 20.1% in the 3rd quarter. Greenleaf Trust now owns 13,224 shares of the technology company’s stock valued at $5,076,000 after buying an additional 2,216 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Stock Performance

ANET stock opened at $394.00 on Thursday. Arista Networks, Inc. has a 52 week low of $168.25 and a 52 week high of $422.73. The company has a market capitalization of $123.47 billion, a PE ratio of 54.87, a price-to-earnings-growth ratio of 3.21 and a beta of 1.07. The company’s 50-day simple moving average is $370.52 and its 200 day simple moving average is $333.77.

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 firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the business posted $1.41 EPS. The business’s revenue was up 15.9% compared to the same quarter last year. On average, analysts forecast that Arista Networks, Inc. will post 7.38 EPS for the current year.

Insider Buying and Selling

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $342.28, for a total value of $684,560.00. Following the completion of the transaction, the director now directly owns 50,946 shares of the company’s stock, valued at $17,437,796.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $342.28, for a total value of $684,560.00. Following the transaction, the director now directly owns 50,946 shares of the company’s stock, valued at $17,437,796.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $1,280,374.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,197 shares of company stock valued at $21,326,894 over the last 90 days. 3.54% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ANET has been the subject of a number of recent research reports. 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. Barclays increased their price target on Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $375.00 price target on shares of Arista Networks in a research report on Wednesday, July 31st. The Goldman Sachs Group increased their price objective on Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, UBS Group boosted 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned 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 $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.