Regal Investment Advisors LLC Sells 80 Shares of Arista Networks, Inc. (NYSE:ANET)

Regal Investment Advisors LLC cut its position in shares of Arista Networks, Inc. (NYSE:ANET) by 8.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 848 shares of the technology company’s stock after selling 80 shares during the period. Regal Investment Advisors LLC’s holdings in Arista Networks were worth $297,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Benjamin Edwards Inc. bought a new stake in shares of Arista Networks in the 1st quarter worth about $26,000. Beacon Capital Management LLC increased its stake in 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 acquiring an additional 65 shares during the last quarter. LGT Financial Advisors LLC bought a new stake in Arista Networks during the second quarter worth approximately $27,000. Financial Synergies Wealth Advisors Inc. lifted its stake 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 last quarter. Finally, Byrne Asset Management LLC bought a new stake in shares of Arista Networks in the 2nd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ANET shares. Rosenblatt Securities increased their price target on Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Wells Fargo & Company increased 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. Barclays lifted their price target on shares of Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Piper Sandler increased their price objective on shares of Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. 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 analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $364.81.

Insider Buying and Selling at Arista Networks

In other news, SVP Kenneth Duda sold 20,000 shares of the firm’s 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 sale, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $1,202,550.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction 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 sale, the senior vice president now owns 3,244 shares of the company’s stock, valued at approximately $1,202,550.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Marc Taxay sold 628 shares of the business’s 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 have sold 54,157 shares of company stock worth $19,291,193 over the last quarter. Insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

Shares of ANET opened at $389.58 on Thursday. The stock has a market capitalization of $122.08 billion, a PE ratio of 54.26, a PEG ratio of 3.04 and a beta of 1.07. The company has a 50 day moving average price of $348.50 and a 200-day moving average price of $322.59. Arista Networks, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $395.82.

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, beating the consensus estimate of $1.72 by $0.38. The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.41 EPS. Equities research analysts forecast that Arista Networks, Inc. will post 7.38 EPS 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.