Joel Isaacson & Co. LLC Has $249,000 Stock Position in Arista Networks, Inc. (NYSE:ANET)

Joel Isaacson & Co. LLC cut its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 13.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 649 shares of the technology company’s stock after selling 100 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in Arista Networks were worth $249,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. GQG Partners LLC bought a new position in Arista Networks in the first quarter valued at about $881,848,000. Swedbank AB acquired a new position in shares of Arista Networks in the first quarter valued at approximately $521,767,000. Ameriprise Financial Inc. raised its holdings in Arista Networks by 97.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock valued at $628,966,000 after buying an additional 884,703 shares during the last quarter. International Assets Investment Management LLC boosted its position in Arista Networks by 39,841.1% during the 3rd quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company’s stock worth $3,358,850,000 after buying an additional 872,919 shares during the period. Finally, 1832 Asset Management L.P. grew its holdings in Arista Networks by 4,160.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 515,700 shares of the technology company’s stock worth $180,743,000 after acquiring an additional 503,597 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

Insider Activity at Arista Networks

In other Arista Networks news, SVP Marc Taxay sold 628 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $350.50, for a total transaction of $220,114.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider John F. Mccool sold 588 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 $206,094.00. The transaction 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 Arista Networks stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $350.50, for a total transaction of $220,114.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,570 shares of company stock valued at $21,474,782. 3.54% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ANET. Needham & Company LLC reaffirmed a “buy” rating and set a $375.00 price target on shares of Arista Networks in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lifted their target price on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. The Goldman Sachs Group increased their price target on Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. KeyCorp lifted their price objective on Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Finally, 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 report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $369.50.

Arista Networks Trading Down 0.4 %

Shares of NYSE ANET opened at $394.09 on Friday. The firm has a market capitalization of $123.49 billion, a P/E ratio of 54.89, a P/E/G ratio of 3.21 and a beta of 1.07. The firm’s 50-day moving average price is $372.10 and its 200-day moving average price is $335.14. Arista Networks, Inc. has a 1-year low of $168.25 and a 1-year high of $422.73.

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