Arista Networks, Inc. (NYSE:ANET) Shares Sold by Brendel Financial Advisors LLC

Brendel Financial Advisors LLC reduced its position in shares of Arista Networks, Inc. (NYSE:ANET) by 5.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,502 shares of the technology company’s stock after selling 298 shares during the quarter. Brendel Financial Advisors LLC’s holdings in Arista Networks were worth $2,112,000 as of its most recent SEC filing.

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

Insider Activity

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at $1,280,374.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $394.69, for a total value of $7,893,800.00. Following the completion of the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $1,280,374.36. This represents 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 this hyperlink. Also, CEO Jayshree Ullal sold 836 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $386.68, for a total transaction of $323,264.48. Following the transaction, the chief executive officer now directly owns 17,681 shares in the company, valued at $6,836,889.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,197 shares of company stock valued at $21,326,894 over the last 90 days. 3.54% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Barclays boosted their price objective on Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Citigroup raised their price objective on shares of Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a research note on Tuesday. Wells Fargo & Company boosted their target price on shares of Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Evercore ISI lifted their price target on Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, 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. 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $369.50.

Arista Networks Trading Up 0.7 %

Arista Networks stock traded up $2.86 during mid-day trading on Thursday, hitting $409.79. 524,853 shares of the company’s stock were exchanged, compared to its average volume of 2,243,795. Arista Networks, Inc. has a 1-year low of $168.25 and a 1-year high of $410.71. The stock has a 50 day moving average of $355.96 and a two-hundred day moving average of $326.09. The stock has a market cap of $128.41 billion, a P/E ratio of 56.40, a P/E/G ratio of 3.04 and a beta of 1.07.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.38. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the firm posted $1.41 EPS. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, research analysts predict that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

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.