Mutual of America Capital Management LLC Sells 1,030 Shares of Arista Networks, Inc. (NYSE:ANET)

Mutual of America Capital Management LLC trimmed its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 3.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 32,008 shares of the technology company’s stock after selling 1,030 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Arista Networks were worth $11,218,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ANET. FCG Investment Co grew its position in Arista Networks by 2.3% during the second quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock worth $445,000 after buying an additional 29 shares in the last quarter. Old Port Advisors grew its position in Arista Networks by 3.5% during the first quarter. Old Port Advisors now owns 955 shares of the technology company’s stock worth $277,000 after buying an additional 32 shares in the last quarter. Fortitude Family Office LLC grew its position in Arista Networks by 33.3% during the second quarter. Fortitude Family Office LLC now owns 132 shares of the technology company’s stock worth $46,000 after buying an additional 33 shares in the last quarter. Resonant Capital Advisors LLC grew its position in Arista Networks by 4.1% during the second quarter. Resonant Capital Advisors LLC now owns 870 shares of the technology company’s stock worth $305,000 after buying an additional 34 shares in the last quarter. Finally, Modera Wealth Management LLC grew its position in Arista Networks by 2.1% during the second quarter. Modera Wealth Management LLC now owns 1,782 shares of the technology company’s stock worth $625,000 after buying an additional 37 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Kelly Bodnar Battles sold 372 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $356.74, for a total transaction of $132,707.28. Following the completion of the transaction, the director now owns 2,565 shares of the company’s stock, valued at approximately $915,038.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Kelly Bodnar Battles sold 372 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $356.74, for a total value of $132,707.28. Following the completion of the transaction, the director now owns 2,565 shares of the company’s stock, valued at approximately $915,038.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $370.70, for a total value of $7,414,000.00. Following the completion of the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $1,202,550.80. The disclosure for this sale can be found here. Insiders sold 107,361 shares of company stock valued at $38,024,123 in the last 90 days. Insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on ANET. Rosenblatt Securities boosted their target price on Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. UBS Group upped their price objective on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Morgan Stanley upped their price objective on Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Piper Sandler upped their price objective on Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $400.00 price objective on shares of Arista Networks in a report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and a consensus price target of $358.63.

Arista Networks Price Performance

Shares of ANET stock opened at $361.70 on Thursday. The business has a 50-day moving average of $340.70 and a 200 day moving average of $315.34. The stock has a market capitalization of $113.34 billion, a PE ratio of 50.38, a P/E/G ratio of 2.70 and a beta of 1.07. Arista Networks, Inc. has a 1-year low of $168.25 and a 1-year high of $376.50.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.38. The business had revenue of $1.69 billion during 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%. Arista Networks’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.41 EPS. Analysts anticipate 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.