Arista Networks, Inc. (NYSE:ANET) Shares Sold by American Trust

American Trust lowered its position in shares of Arista Networks, Inc. (NYSE:ANET) by 6.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,552 shares of the technology company’s stock after selling 179 shares during the period. American Trust’s holdings in Arista Networks were worth $894,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ANET. UniSuper Management Pty Ltd boosted its holdings in shares of Arista Networks by 20.3% in the first quarter. UniSuper Management Pty Ltd now owns 36,329 shares of the technology company’s stock valued at $10,535,000 after acquiring an additional 6,133 shares during the period. Central Pacific Bank Trust Division purchased a new position in Arista Networks during the 1st quarter worth $1,405,000. M&G Plc acquired a new position in Arista Networks in the first quarter valued at $3,238,000. Nordea Investment Management AB raised its holdings in shares of Arista Networks by 32.5% in the first quarter. Nordea Investment Management AB now owns 26,799 shares of the technology company’s stock valued at $7,810,000 after buying an additional 6,578 shares during the last quarter. Finally, Cim LLC purchased a new position in shares of Arista Networks during the fourth quarter worth about $2,589,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ANET has been the subject of several analyst reports. The Goldman Sachs Group upped their price objective on Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Citigroup increased their price target on Arista Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Jefferies Financial Group boosted their price objective on shares of Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Morgan Stanley raised their target price on shares of Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. Finally, Bank of America boosted their price target on shares of Arista Networks from $320.00 to $380.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $364.81.

Insider Activity at Arista Networks

In related news, Director Kelly Bodnar Battles sold 372 shares of Arista Networks stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $356.74, for a total transaction of $132,707.28. Following the completion of the sale, the director now owns 2,565 shares in the company, valued at approximately $915,038.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Kenneth Duda sold 1,689 shares of Arista Networks stock in a transaction on Friday, September 6th. The stock was sold at an average price of $321.28, for a total value of $542,641.92. Following the completion of the sale, the senior vice president now owns 182,600 shares of the company’s stock, valued at $58,665,728. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kelly Bodnar Battles sold 372 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $356.74, for a total value of $132,707.28. Following the transaction, the director now owns 2,565 shares in the company, valued at $915,038.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,157 shares of company stock valued at $19,291,193. 3.54% of the stock is owned by corporate insiders.

Arista Networks Stock Down 0.5 %

NYSE:ANET opened at $381.72 on Wednesday. Arista Networks, Inc. has a 52-week low of $168.25 and a 52-week high of $395.82. The stock has a fifty day simple moving average of $347.22 and a 200-day simple moving average of $322.12. The company has a market capitalization of $119.62 billion, a PE ratio of 53.16, a price-to-earnings-growth ratio of 3.04 and a beta of 1.07.

Arista Networks (NYSE:ANET) last announced its earnings results 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. The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.41 earnings per share. As a group, equities analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current 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.