Arista Networks, Inc. $ANET Position Reduced by Braun Stacey Associates Inc.

Braun Stacey Associates Inc. trimmed its position in Arista Networks, Inc. (NYSE:ANET) by 4.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 117,136 shares of the technology company’s stock after selling 5,747 shares during the period. Braun Stacey Associates Inc.’s holdings in Arista Networks were worth $17,068,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Bare Financial Services Inc lifted its holdings in shares of Arista Networks by 2,118.2% in the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after buying an additional 233 shares during the period. AdvisorNet Financial Inc grew its holdings in Arista Networks by 56.7% during the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after acquiring an additional 72 shares during the period. REAP Financial Group LLC raised its position in Arista Networks by 108.0% in the second quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock worth $34,000 after acquiring an additional 175 shares in the last quarter. eCIO Inc. acquired a new stake in Arista Networks in the 1st quarter valued at about $36,000. Finally, Solstein Capital LLC lifted its holdings in Arista Networks by 493.8% in the 2nd quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock valued at $39,000 after acquiring an additional 316 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Trading Down 1.1%

Shares of ANET stock opened at $130.97 on Friday. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $164.94. The company has a market capitalization of $164.93 billion, a price-to-earnings ratio of 49.80, a P/E/G ratio of 2.51 and a beta of 1.41. The stock’s fifty day simple moving average is $133.75 and its 200-day simple moving average is $130.00.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.03. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the prior year, the business earned $2.40 EPS. The business’s revenue for the quarter was up 27.5% on a year-over-year basis. On average, sell-side analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Activity at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $128.09, for a total value of $1,024,720.00. Following the transaction, the director owned 25,784 shares in the company, valued at approximately $3,302,672.56. This represents a 23.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jayshree Ullal sold 24,042 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total transaction of $2,994,431.10. Following the completion of the sale, the chief executive officer owned 9,917 shares of the company’s stock, valued at approximately $1,235,162.35. The trade was a 70.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 208,464 shares of company stock valued at $27,418,668 over the last ninety days. 3.39% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. UBS Group reaffirmed a “buy” rating and issued a $155.00 price objective on shares of Arista Networks in a research note on Wednesday, December 3rd. BNP Paribas raised Arista Networks from a “hold” rating to an “outperform” rating in a report on Thursday, September 25th. BNP Paribas Exane raised Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 price objective for the company in a research note on Thursday, September 25th. Citigroup boosted their target price on Arista Networks from $136.00 to $176.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Arista Networks in a research report on Monday. Seventeen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $163.56.

Arista Networks Company Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.