Arista Networks, Inc. (NYSE:ANET) Shares Sold by Realta Investment Advisors

Realta Investment Advisors decreased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 67.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,642 shares of the technology company’s stock after selling 5,352 shares during the quarter. Realta Investment Advisors’ holdings in Arista Networks were worth $1,092,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in ANET. Chicago Partners Investment Group LLC boosted its position in Arista Networks by 5.8% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,639 shares of the technology company’s stock valued at $1,040,000 after buying an additional 144 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Arista Networks by 16.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,159 shares of the technology company’s stock worth $829,000 after buying an additional 304 shares during the last quarter. Weatherly Asset Management L. P. boosted its stake in Arista Networks by 10.9% in the third quarter. Weatherly Asset Management L. P. now owns 19,971 shares of the technology company’s stock valued at $7,665,000 after acquiring an additional 1,965 shares in the last quarter. Gladstone Institutional Advisory LLC grew its stake in Arista Networks by 64.2% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 8,532 shares of the technology company’s stock worth $3,275,000 after buying an additional 3,337 shares during the last quarter. Finally, Lebenthal Global Advisors LLC increased its stake in Arista Networks by 24.0% in the third quarter. Lebenthal Global Advisors LLC now owns 4,141 shares of the technology company’s stock valued at $1,589,000 after purchasing an additional 802 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ANET. Rosenblatt Securities increased their target price on Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research note on Wednesday, July 31st. Evercore ISI lifted their price objective on Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. The Goldman Sachs Group raised their price target on shares of Arista Networks from $390.00 to $430.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Needham & Company LLC reiterated a “buy” rating and set a $375.00 target price on shares of Arista Networks in a research report on Wednesday, July 31st. Finally, Barclays raised their target price on shares of Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. One investment 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. According to MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and a consensus target price of $373.88.

Arista Networks Price Performance

Arista Networks stock traded up $7.73 during midday trading on Friday, hitting $394.17. 1,313,901 shares of the stock were exchanged, compared to its average volume of 2,200,594. The firm has a market cap of $123.83 billion, a P/E ratio of 51.13, a P/E/G ratio of 3.49 and a beta of 1.07. Arista Networks, Inc. has a 1 year low of $203.19 and a 1 year high of $422.73. The company has a 50 day moving average price of $376.13 and a two-hundred day moving average price of $338.73.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, beating 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%. Arista Networks’s revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.41 earnings per share. As a group, analysts predict that Arista Networks, Inc. will post 7.42 EPS for the current year.

Insider Activity at Arista Networks

In other Arista Networks news, Director Kelly Bodnar Battles sold 373 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $396.48, for a total transaction of $147,887.04. Following the sale, the director now directly owns 2,192 shares in the company, valued at approximately $869,084.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Kenneth Duda sold 1,689 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $321.28, for a total transaction of $542,641.92. Following the sale, the senior vice president now owns 182,600 shares in the company, valued at $58,665,728. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kelly Bodnar Battles sold 373 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $396.48, for a total transaction of $147,887.04. Following the completion of the transaction, the director now directly owns 2,192 shares of the company’s stock, valued at $869,084.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,522 shares of company stock worth $20,099,338 in the last three months. 3.54% of the stock is owned by company insiders.

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.