Epoch Investment Partners Inc. Sells 82,394 Shares of Arista Networks, Inc. (NYSE:ANET)

Epoch Investment Partners Inc. lowered its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 11.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 607,131 shares of the technology company’s stock after selling 82,394 shares during the quarter. Arista Networks comprises about 1.0% of Epoch Investment Partners Inc.’s investment portfolio, making the stock its 16th biggest position. Epoch Investment Partners Inc. owned approximately 0.19% of Arista Networks worth $212,787,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Benjamin Edwards Inc. acquired a new position in Arista Networks during the first quarter valued at approximately $26,000. Beacon Capital Management LLC grew its stake in Arista Networks by 500.0% in the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after buying an additional 65 shares during the last quarter. LGT Financial Advisors LLC bought a new position in Arista Networks in the 2nd quarter worth $27,000. Financial Synergies Wealth Advisors Inc. lifted its position in Arista Networks by 872.7% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after acquiring an additional 96 shares during the last quarter. Finally, Byrne Asset Management LLC bought a new stake in Arista Networks during the second quarter valued at about $33,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Performance

Shares of NYSE:ANET opened at $384.46 on Friday. The company’s fifty day moving average is $341.55 and its 200-day moving average is $316.71. Arista Networks, Inc. has a 52 week low of $168.25 and a 52 week high of $385.50. The company has a market capitalization of $120.48 billion, a PE ratio of 53.55, a P/E/G ratio of 2.70 and a beta of 1.07.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.38. The company had revenue of $1.69 billion during 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%. The company’s revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the business posted $1.41 earnings per share. On average, analysts forecast that Arista Networks, Inc. will post 7.38 EPS for the current year.

Insider Transactions at Arista Networks

In related news, CEO Jayshree Ullal sold 25,000 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $347.00, for a total transaction of $8,675,000.00. Following the transaction, the chief executive officer now owns 1,600,800 shares in the company, valued at approximately $555,477,600. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Jayshree Ullal sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $347.00, for a total value of $8,675,000.00. Following the completion of the transaction, the chief executive officer now owns 1,600,800 shares in the company, valued at approximately $555,477,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Marc Taxay sold 624 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $354.71, for a total value of $221,339.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 107,361 shares of company stock worth $38,024,123. Insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ANET. JPMorgan Chase & Co. boosted their price objective on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Citigroup upped their price target on Arista Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Jefferies Financial Group raised their price objective on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. UBS Group upped their target price on shares of Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Finally, Evercore ISI restated an “outperform” rating and issued a $400.00 price target on shares of Arista Networks in a research report on Friday, September 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $358.63.

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.