Alpha Cubed Investments LLC Sells 210 Shares of Arista Networks, Inc. (NYSE:ANET)

Alpha Cubed Investments LLC trimmed its stake in Arista Networks, Inc. (NYSE:ANET) by 18.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 900 shares of the technology company’s stock after selling 210 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Arista Networks were worth $345,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Benjamin Edwards Inc. acquired a new stake in Arista Networks in the 1st quarter valued at about $26,000. Beacon Capital Management LLC raised its stake in 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 buying an additional 65 shares during the period. LGT Financial Advisors LLC acquired a new stake in shares of Arista Networks in the second quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. boosted its stake in shares of 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 period. Finally, Byrne Asset Management LLC acquired a new position in shares of Arista Networks during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on ANET shares. Jefferies Financial Group lifted their price objective on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Evercore ISI upped their price target on shares of Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. raised their price objective on shares of Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Piper Sandler boosted 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, KeyCorp increased their target price on Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $369.50.

Arista Networks Trading Up 1.9 %

Shares of Arista Networks stock opened at $400.15 on Wednesday. The company has a market cap of $125.39 billion, a PE ratio of 55.73, a price-to-earnings-growth ratio of 3.04 and a beta of 1.07. The company has a 50 day moving average of $352.98 and a 200-day moving average of $324.87. Arista Networks, Inc. has a 1-year low of $168.25 and a 1-year high of $402.00.

Arista Networks (NYSE:ANET) last released its earnings results 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. 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 during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the prior year, the company earned $1.41 earnings per share. The company’s quarterly revenue was up 15.9% on a year-over-year basis. Research analysts forecast that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Insider Activity at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 17,752 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $354.29, for a total transaction of $6,289,356.08. Following the completion of the transaction, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $6,264,201.49. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Arista Networks news, CEO Jayshree Ullal sold 17,752 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $354.29, for a total transaction of $6,289,356.08. Following the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $6,264,201.49. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $342.28, for a total transaction of $684,560.00. Following the transaction, the director now owns 50,946 shares of the company’s stock, valued at $17,437,796.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,197 shares of company stock valued at $13,433,094 over the last ninety days. 3.54% of the stock is owned by corporate insiders.

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.