Ashton Thomas Private Wealth LLC Has $2.34 Million Stake in Arista Networks, Inc. (NYSE:ANET)

Ashton Thomas Private Wealth LLC cut its stake in shares of Arista Networks, Inc. (NYSE:ANETFree Report) by 10.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,070 shares of the technology company’s stock after selling 964 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Arista Networks were worth $2,340,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. NBC Securities Inc. raised its holdings in Arista Networks by 21.5% during the first quarter. NBC Securities Inc. now owns 215 shares of the technology company’s stock worth $62,000 after buying an additional 38 shares during the last quarter. Sandy Spring Bank lifted its position in Arista Networks by 33.6% in the 4th quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock valued at $37,000 after acquiring an additional 39 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Arista Networks by 6.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 694 shares of the technology company’s stock valued at $163,000 after purchasing an additional 39 shares during the last quarter. Fulton Breakefield Broenniman LLC raised its stake in shares of Arista Networks by 1.8% in the fourth quarter. Fulton Breakefield Broenniman LLC now owns 2,255 shares of the technology company’s stock worth $531,000 after purchasing an additional 40 shares during the last quarter. Finally, West Family Investments Inc. lifted its holdings in shares of Arista Networks by 3.3% in the fourth quarter. West Family Investments Inc. now owns 1,267 shares of the technology company’s stock valued at $298,000 after purchasing an additional 40 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Morgan Stanley upped their price target on Arista Networks from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Wednesday, June 12th. Erste Group Bank reissued a “buy” rating on shares of Arista Networks in a research report on Friday, June 14th. Citigroup upped their price objective on shares of Arista Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. UBS Group boosted their target price on Arista Networks from $275.00 to $285.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. Finally, Barclays increased their price target on Arista Networks from $311.00 to $320.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and an average target price of $311.50.

Get Our Latest Stock Analysis on Arista Networks

Arista Networks Trading Up 0.2 %

Arista Networks stock opened at $366.14 on Friday. The firm has a 50 day simple moving average of $314.01 and a 200 day simple moving average of $283.49. Arista Networks, Inc. has a 1-year low of $149.10 and a 1-year high of $367.25. The firm has a market capitalization of $114.73 billion, a price-to-earnings ratio of 50.99, a P/E/G ratio of 3.23 and a beta of 1.11.

Arista Networks (NYSE:ANETGet Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The technology company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.24. Arista Networks had a return on equity of 31.12% and a net margin of 37.64%. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.55 billion. On average, equities research analysts forecast that Arista Networks, Inc. will post 7.05 EPS for the current year.

Arista Networks declared that its Board of Directors has initiated a stock repurchase program on Tuesday, May 7th that authorizes the company to repurchase $1.20 billion in shares. This repurchase authorization authorizes the technology company to purchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Arista Networks

In other news, CEO Jayshree Ullal sold 25,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $357.00, for a total value of $8,925,000.00. Following the sale, the chief executive officer now directly owns 1,595,800 shares of the company’s stock, valued at $569,700,600. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Marc Taxay sold 1,044 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $254.54, for a total transaction of $265,739.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jayshree Ullal sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $357.00, for a total transaction of $8,925,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,595,800 shares in the company, valued at $569,700,600. The disclosure for this sale can be found here. Insiders sold 214,118 shares of company stock valued at $68,528,038 in the last quarter. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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