Arista Networks, Inc. (NYSE:ANET) Shares Sold by CX Institutional

CX Institutional decreased its holdings in Arista Networks, Inc. (NYSE:ANET) by 19.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,763 shares of the technology company’s stock after selling 428 shares during the quarter. CX Institutional’s holdings in Arista Networks were worth $677,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Benjamin Edwards Inc. purchased a new stake in shares of Arista Networks during the first quarter valued at $26,000. Beacon Capital Management LLC raised its holdings in Arista Networks by 500.0% during the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after buying an additional 65 shares during the period. LGT Financial Advisors LLC purchased a new stake in Arista Networks during the second quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. boosted its holdings 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 worth $31,000 after buying an additional 96 shares during the period. Finally, Byrne Asset Management LLC purchased a new position in shares of Arista Networks in the second quarter worth approximately $33,000. Institutional investors own 82.47% of the company’s stock.

Insiders Place Their Bets

In other news, Director Kelly Bodnar Battles sold 216 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $324.02, for a total transaction of $69,988.32. Following the sale, the director now directly owns 2,726 shares in the company, valued at approximately $883,278.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Kelly Bodnar Battles sold 216 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $324.02, for a total value of $69,988.32. Following the sale, the director now owns 2,726 shares of the company’s stock, valued at $883,278.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction dated 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 transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $1,280,374.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,197 shares of company stock worth $21,326,894. 3.54% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ANET has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised 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. The Goldman Sachs Group raised their price objective on Arista Networks from $390.00 to $430.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Rosenblatt Securities upped their target price on Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Citigroup boosted their price objective on shares of Arista Networks from $385.00 to $460.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Piper Sandler boosted their price target on shares of Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $369.50.

Arista Networks Trading Up 3.6 %

ANET opened at $406.30 on Thursday. The business has a 50 day moving average of $364.47 and a 200-day moving average of $330.06. The stock has a market capitalization of $127.32 billion, a price-to-earnings ratio of 56.59, a P/E/G 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.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.38. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the business posted $1.41 EPS. Equities analysts predict that Arista Networks, Inc. will post 7.38 EPS for the current year.

About Arista Networks

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.