Arista Networks, Inc. (NYSE:ANET) Shares Sold by Disciplined Growth Investors Inc. MN

Disciplined Growth Investors Inc. MN decreased its position in Arista Networks, Inc. (NYSE:ANET) by 1.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 603,236 shares of the technology company’s stock after selling 11,382 shares during the quarter. Arista Networks comprises 4.0% of Disciplined Growth Investors Inc. MN’s investment portfolio, making the stock its 5th largest holding. Disciplined Growth Investors Inc. MN’s holdings in Arista Networks were worth $211,422,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ANET. Benjamin Edwards Inc. acquired a new stake in Arista Networks during the 1st quarter worth $26,000. Beacon Capital Management LLC grew its stake in shares of Arista Networks by 500.0% during the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after purchasing an additional 65 shares during the period. LGT Financial Advisors LLC bought a new stake in Arista Networks in the second quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. lifted its stake in Arista Networks by 872.7% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after buying an additional 96 shares during the period. Finally, Byrne Asset Management LLC bought a new position in Arista Networks during the second quarter worth about $33,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Stock Down 1.6 %

Shares of ANET opened at $380.26 on Friday. Arista Networks, Inc. has a twelve month low of $168.25 and a twelve month high of $395.82. The stock has a market capitalization of $119.16 billion, a P/E ratio of 52.96, a P/E/G ratio of 3.04 and a beta of 1.07. The company has a 50 day moving average of $345.69 and a 200-day moving average of $320.40.

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

Insider Activity at Arista Networks

In other Arista Networks news, SVP Marc Taxay sold 624 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $354.71, for a total transaction of $221,339.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Marc Taxay sold 624 shares of Arista Networks stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $354.71, for a total value of $221,339.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jayshree Ullal sold 832 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $318.12, for a total transaction of $264,675.84. Following the transaction, the chief executive officer now owns 17,681 shares in the company, valued at $5,624,679.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 82,361 shares of company stock valued at $29,349,123. Insiders own 3.54% of the company’s stock.

Wall Street Analysts Forecast Growth

ANET has been the subject of a number of recent analyst reports. Evercore ISI reaffirmed an “outperform” rating and issued a $400.00 price target on shares of Arista Networks in a research note on Friday, September 13th. Jefferies Financial Group increased their target price on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Citigroup boosted their price target on shares of Arista Networks from $330.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Bank of America lifted their target price on Arista Networks from $320.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Finally, UBS Group increased their price target on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Arista Networks presently has a consensus rating of “Moderate Buy” and a consensus price target of $363.25.

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.