Certuity LLC Sells 862 Shares of Arista Networks, Inc. (NYSE:ANET)

Certuity LLC lessened its stake in Arista Networks, Inc. (NYSE:ANET) by 8.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,103 shares of the technology company’s stock after selling 862 shares during the quarter. Certuity LLC’s holdings in Arista Networks were worth $3,191,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ANET. Benjamin Edwards Inc. purchased a new stake in Arista Networks in the 1st quarter valued at about $26,000. Beacon Capital Management LLC grew 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 acquiring an additional 65 shares in the last quarter. LGT Financial Advisors LLC bought a new stake in Arista Networks during the second quarter worth $27,000. Financial Synergies Wealth Advisors Inc. boosted its position in 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 purchasing an additional 96 shares during the last quarter. Finally, Byrne Asset Management LLC bought a new position in Arista Networks in the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ANET shares. Barclays lifted their target price on Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Morgan Stanley increased their target price on shares of Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. Rosenblatt Securities lifted their price target on shares of Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. Erste Group Bank reissued a “buy” rating on shares of Arista Networks in a report on Friday, June 14th. Finally, Evercore ISI upped their price target on Arista Networks from $340.00 to $400.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $358.63.

Insider Activity at Arista Networks

In other news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $325.88, for a total transaction of $6,517,600.00. Following the completion of the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $1,057,154.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Arista Networks news, SVP Marc Taxay sold 624 shares of Arista Networks stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $354.71, for a total transaction of $221,339.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the business’s 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 completion of the sale, the senior vice president now owns 3,244 shares of the company’s stock, valued at $1,057,154.72. The disclosure for this sale can be found here. Insiders have sold 126,300 shares of company stock valued at $44,194,544 over the last three months. 3.54% of the stock is owned by corporate insiders.

Arista Networks Trading Down 4.3 %

Arista Networks stock opened at $314.31 on Friday. Arista Networks, Inc. has a 1-year low of $168.25 and a 1-year high of $376.50. The firm has a market capitalization of $98.49 billion, a PE ratio of 43.78, a price-to-earnings-growth ratio of 2.78 and a beta of 1.07. The firm’s 50 day simple moving average is $343.09 and its 200 day simple moving average is $311.03.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. The business 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 company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.41 EPS. Research analysts forecast that Arista Networks, Inc. will post 7.38 earnings per share 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.