Arista Networks, Inc. (NYSE:ANET) Shares Sold by Gunderson Capital Management Inc.

Gunderson Capital Management Inc. cut its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 3.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,891 shares of the technology company’s stock after selling 1,083 shares during the period. Arista Networks comprises approximately 5.2% of Gunderson Capital Management Inc.’s investment portfolio, making the stock its 6th biggest position. Gunderson Capital Management Inc.’s holdings in Arista Networks were worth $12,240,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ANET. Gratus Wealth Advisors LLC lifted its stake in Arista Networks by 54.1% in the 3rd quarter. Gratus Wealth Advisors LLC now owns 3,295 shares of the technology company’s stock valued at $1,293,000 after purchasing an additional 1,157 shares during the last quarter. Brookstone Capital Management increased its holdings in shares of Arista Networks by 21.5% during the third quarter. Brookstone Capital Management now owns 18,113 shares of the technology company’s stock worth $6,952,000 after buying an additional 3,204 shares in the last quarter. Atomi Financial Group Inc. lifted its stake in shares of Arista Networks by 31.3% in the 3rd quarter. Atomi Financial Group Inc. now owns 5,783 shares of the technology company’s stock valued at $2,220,000 after acquiring an additional 1,377 shares during the last quarter. Clean Yield Group acquired a new stake in shares of Arista Networks during the 3rd quarter valued at $1,993,000. Finally, Axiom Advisory LLC grew its position in Arista Networks by 1.6% during the 3rd quarter. Axiom Advisory LLC now owns 2,304 shares of the technology company’s stock worth $884,000 after acquiring an additional 36 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Activity

In related news, SVP Marc Taxay sold 628 shares of the business’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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Arista Networks news, SVP Marc Taxay sold 628 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $350.50, for a total value of $220,114.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $342.28, for a total value 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,197 shares of company stock valued at $13,433,094 in the last ninety days. 3.54% of the stock is currently owned by insiders.

Arista Networks Price Performance

Shares of NYSE ANET traded up $3.70 during trading on Wednesday, hitting $403.92. The stock had a trading volume of 639,670 shares, compared to its average volume of 2,246,179. The firm has a fifty day moving average of $354.75 and a two-hundred day moving average of $325.53. The company has a market capitalization of $126.57 billion, a PE ratio of 56.18, a PEG ratio of 3.04 and a beta of 1.07. Arista Networks, Inc. has a 12 month low of $168.25 and a 12 month high of $405.88.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the prior year, the firm posted $1.41 EPS. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, equities analysts expect that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Jefferies Financial Group lifted their price target on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group raised their target price on Arista Networks from $390.00 to $430.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. UBS Group upped their price target on Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Piper Sandler raised their price objective on Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $375.00 target price on shares of Arista Networks in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $369.50.

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.