Integrated Advisors Network LLC Has $354,000 Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Integrated Advisors Network LLC lowered its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 13.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 922 shares of the technology company’s stock after selling 146 shares during the period. Integrated Advisors Network LLC’s holdings in Arista Networks were worth $354,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. GQG Partners LLC acquired a new stake in Arista Networks in the first quarter valued at approximately $881,848,000. Swedbank AB acquired a new stake in Arista Networks in the first quarter valued at approximately $521,767,000. Ameriprise Financial Inc. grew its stake in Arista Networks by 97.2% in the second quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock valued at $628,966,000 after acquiring an additional 884,703 shares during the period. International Assets Investment Management LLC grew its stake in Arista Networks by 39,841.1% in the third quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company’s stock valued at $3,358,850,000 after acquiring an additional 872,919 shares during the period. Finally, 1832 Asset Management L.P. grew its stake in Arista Networks by 4,160.9% in the second quarter. 1832 Asset Management L.P. now owns 515,700 shares of the technology company’s stock valued at $180,743,000 after acquiring an additional 503,597 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Activity

In other news, Director Kelly Bodnar Battles sold 216 shares of Arista Networks 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 completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider John F. Mccool sold 580 shares of Arista Networks stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $388.37, for a total value of $225,254.60. Following the completion of the transaction, the insider now directly owns 72 shares in the company, valued at approximately $27,962.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kelly Bodnar Battles sold 216 shares of the business’s stock in a transaction dated 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,522 shares of company stock worth $20,099,338. 3.54% of the stock is owned by corporate insiders.

Arista Networks Price Performance

Shares of ANET opened at $394.23 on Friday. The firm has a market cap of $123.85 billion, a PE ratio of 51.13, a PEG ratio of 3.49 and a beta of 1.07. The stock’s fifty day moving average price is $376.13 and its two-hundred day moving average price is $338.73. Arista Networks, Inc. has a 1 year low of $203.19 and a 1 year high of $422.73.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.38. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The business’s revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.41 earnings per share. Sell-side analysts anticipate that Arista Networks, Inc. will post 7.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ANET has been the subject of a number of research reports. Jefferies Financial Group raised their price objective on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Wells Fargo & Company raised their target price on Arista Networks from $390.00 to $460.00 and gave the company an “overweight” rating in a report on Wednesday. The Goldman Sachs Group raised their target price on Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. raised their target price on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Needham & Company LLC restated a “buy” rating and issued a $375.00 target price on shares of Arista Networks in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and a consensus price target of $373.88.

Arista Networks 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.