Blodgett Wealth Advisors LLC Has $307,000 Stake in Arista Networks, Inc. (NYSE:ANET)

Blodgett Wealth Advisors LLC reduced its position in Arista Networks, Inc. (NYSE:ANET) by 27.3% during the third quarter, HoldingsChannel reports. The firm owned 800 shares of the technology company’s stock after selling 300 shares during the period. Blodgett Wealth Advisors LLC’s holdings in Arista Networks were worth $307,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. First Affirmative Financial Network raised its holdings in Arista Networks by 4.3% during the third quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock worth $262,000 after buying an additional 28 shares during the last quarter. FCG Investment Co boosted its stake in Arista Networks by 2.3% in the second quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock valued at $445,000 after acquiring an additional 29 shares during the last quarter. Everpar Advisors LLC grew its holdings in Arista Networks by 1.5% during the third quarter. Everpar Advisors LLC now owns 1,907 shares of the technology company’s stock valued at $732,000 after purchasing an additional 29 shares during the period. Foundations Investment Advisors LLC increased its holdings in Arista Networks by 5.0% in the 3rd quarter. Foundations Investment Advisors LLC now owns 653 shares of the technology company’s stock worth $251,000 after acquiring an additional 31 shares during the last quarter. Finally, Old Port Advisors increased its stake in shares of Arista Networks by 3.5% in the first quarter. Old Port Advisors now owns 955 shares of the technology company’s stock worth $277,000 after purchasing an additional 32 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Arista Networks

In other news, SVP Marc Taxay sold 628 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $350.50, for a total value of $220,114.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Marc Taxay sold 628 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $350.50, for a total value of $220,114.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jayshree Ullal sold 832 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $318.12, for a total transaction of $264,675.84. Following the completion of the sale, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at approximately $5,624,679.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,197 shares of company stock worth $21,326,894 over the last 90 days. 3.54% of the stock is owned by insiders.

Arista Networks Price Performance

NYSE:ANET traded down $9.45 during mid-day trading on Tuesday, hitting $396.56. 2,357,531 shares of the company’s stock were exchanged, compared to its average volume of 2,234,142. The company has a market cap of $124.27 billion, a PE ratio of 56.55, a P/E/G ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a one year low of $168.25 and a one year high of $422.73. The business has a fifty day moving average price of $368.60 and a 200 day moving average price of $332.64.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, July 30th. The technology company reported $2.10 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 firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the prior year, the firm posted $1.41 earnings per share. The company’s quarterly revenue was up 15.9% on a year-over-year basis. On average, equities analysts forecast that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

Analysts Set New Price Targets

ANET has been the topic of several analyst reports. KeyCorp increased their price target on shares of Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. The Goldman Sachs Group increased their price target on shares of Arista Networks from $390.00 to $430.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Jefferies Financial Group raised their price target on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company lifted their price target on shares of Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Rosenblatt Securities increased their target price 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $369.50.

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.