Arista Networks, Inc. (NYSE:ANET) Shares Sold by SYSTM Wealth Solutions LLC

SYSTM Wealth Solutions LLC lessened its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 43.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,255 shares of the technology company’s stock after selling 1,757 shares during the period. SYSTM Wealth Solutions LLC’s holdings in Arista Networks were worth $790,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ANET. Benjamin Edwards Inc. purchased a new position in shares of Arista Networks in the 1st quarter valued at about $26,000. Beacon Capital Management LLC increased its holdings 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 in the last quarter. LGT Financial Advisors LLC acquired a new stake in shares of Arista Networks during the 2nd 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 in the last quarter. Finally, Byrne Asset Management LLC acquired a new stake in shares of Arista Networks in the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of research analyst reports. 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. Needham & Company LLC reissued a “buy” rating and issued a $375.00 price objective on shares of Arista Networks in a research note on Wednesday, July 31st. KeyCorp lifted their target price on shares of Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Barclays increased their price target on shares of Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Piper Sandler upped their target price on Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $358.63.

Insider Activity at Arista Networks

In related news, SVP Marc Taxay sold 624 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $354.71, for a total value of $221,339.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction dated Monday, July 8th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Marc Taxay sold 624 shares of Arista Networks stock in a transaction that occurred 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. In the last three months, insiders sold 107,361 shares of company stock valued at $38,024,123. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Stock Up 0.2 %

ANET stock opened at $361.70 on Thursday. The company has a market cap of $113.34 billion, a price-to-earnings ratio of 50.38, a PEG ratio of 2.70 and a beta of 1.07. The business has a fifty day simple moving average of $340.70 and a 200-day simple moving average of $315.34. Arista Networks, Inc. has a 52 week low of $168.25 and a 52 week high of $376.50.

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