Goelzer Investment Management Inc. Sells 91 Shares of Arista Networks, Inc. (NYSE:ANET)

Goelzer Investment Management Inc. lowered its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 0.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,198 shares of the technology company’s stock after selling 91 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Arista Networks were worth $5,833,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ANET. Benjamin Edwards Inc. acquired a new position in shares of Arista Networks during the 1st quarter worth about $26,000. Beacon Capital Management LLC grew its stake in shares of Arista Networks by 500.0% in the second 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 acquired a new position in Arista Networks during the 2nd quarter valued at $27,000. Financial Synergies Wealth Advisors Inc. raised its stake 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 valued at $31,000 after purchasing an additional 96 shares during the last quarter. Finally, Byrne Asset Management LLC acquired a new stake in Arista Networks in the 2nd quarter worth $33,000. Institutional investors own 82.47% of the company’s stock.

Insider Activity

In other news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was 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 $1,202,550.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was 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 owns 3,244 shares in the company, valued at $1,202,550.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Marc Taxay sold 628 shares of the 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 disclosure for this sale can be found here. Insiders sold a total of 57,361 shares of company stock worth $20,523,830 over the last quarter. 3.54% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ANET shares. Citigroup lifted their target price on Arista Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. The Goldman Sachs Group upped their target price on Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Wells Fargo & Company lifted their price target on shares of Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Rosenblatt Securities increased their price objective on shares of Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a research note on Wednesday, July 31st. Finally, Erste Group Bank reissued a “buy” rating on shares of Arista Networks in a research note on Friday, June 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and a consensus price target of $364.81.

Arista Networks Trading Up 1.5 %

Shares of NYSE:ANET traded up $5.86 during trading on Friday, reaching $395.97. 1,064,956 shares of the stock were exchanged, compared to its average volume of 2,263,464. The stock has a 50-day moving average price of $351.55 and a 200-day moving average price of $323.80. Arista Networks, Inc. has a 12 month low of $168.25 and a 12 month high of $396.80. The firm has a market cap of $124.08 billion, a PE ratio of 55.15, a PEG ratio of 3.04 and a beta of 1.07.

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

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.