Arista Networks, Inc. (NYSE:ANET) Stock Holdings Trimmed by Evermay Wealth Management LLC

Evermay Wealth Management LLC reduced its stake in Arista Networks, Inc. (NYSE:ANET) by 11.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 712 shares of the technology company’s stock after selling 88 shares during the period. Evermay Wealth Management LLC’s holdings in Arista Networks were worth $273,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Beacon Capital Management LLC raised its position in Arista Networks by 500.0% during the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after buying an additional 65 shares during the period. LGT Financial Advisors LLC acquired a new stake in shares of Arista Networks during the second quarter worth approximately $27,000. Byrne Asset Management LLC acquired a new position in Arista Networks in the 2nd quarter valued at approximately $33,000. Sugarloaf Wealth Management LLC acquired a new position in Arista Networks in the second quarter worth approximately $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Arista Networks during the 2nd quarter valued at $35,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Stock Down 0.6 %

Arista Networks stock traded down $2.53 during midday trading on Wednesday, hitting $399.04. 197,071 shares of the stock were exchanged, compared to its average volume of 2,200,057. The stock has a market capitalization of $125.04 billion, a price-to-earnings ratio of 55.93, a price-to-earnings-growth ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a 52-week low of $187.68 and a 52-week high of $422.73. The business’s 50-day moving average price is $373.86 and its 200-day moving average price is $337.07.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.38. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.41 EPS. On average, sell-side analysts predict that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Insider Transactions at Arista Networks

In other news, CEO Jayshree Ullal sold 832 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $318.12, for a total value of $264,675.84. Following the completion of the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $5,624,679.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Marc Taxay sold 628 shares of the company’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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jayshree Ullal sold 832 shares of Arista Networks stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $318.12, for a total transaction of $264,675.84. Following the transaction, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at approximately $5,624,679.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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 corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ANET shares. Piper Sandler raised their price objective on Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Jefferies Financial Group boosted their target price on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company increased their price target on shares of Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Rosenblatt Securities raised their target price on Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. Finally, Evercore ISI upped their target price on shares of Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $369.50.

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.