Arista Networks Inc (ANET) Position Decreased by TRUE Private Wealth Advisors

TRUE Private Wealth Advisors cut its position in Arista Networks Inc (NYSE:ANET) by 21.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,242 shares of the technology company’s stock after selling 346 shares during the quarter. TRUE Private Wealth Advisors’ holdings in Arista Networks were worth $330,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ANET. OLD Mutual Customised Solutions Proprietary Ltd. bought a new position in Arista Networks in the second quarter valued at about $129,000. Signet Financial Management LLC bought a new position in Arista Networks in the second quarter valued at about $142,000. Cerebellum GP LLC bought a new position in Arista Networks in the second quarter valued at about $159,000. NewSquare Capital LLC bought a new position in Arista Networks in the second quarter valued at about $181,000. Finally, Foundry Partners LLC bought a new position in Arista Networks in the third quarter valued at about $200,000. Hedge funds and other institutional investors own 54.66% of the company’s stock.

In related news, SVP Kenneth Duda sold 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 10th. The stock was sold at an average price of $229.24, for a total transaction of $2,521,640.00. Following the completion of the sale, the senior vice president now owns 2,664 shares of the company’s stock, valued at $610,695.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Marc Taxay sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $260.26, for a total value of $520,520.00. Following the sale, the senior vice president now directly owns 15,371 shares of the company’s stock, valued at approximately $4,000,456.46. The disclosure for this sale can be found here. Insiders have sold 216,737 shares of company stock valued at $64,326,230 in the last ninety days. 24.95% of the stock is currently owned by insiders.

ANET has been the subject of several research reports. Zacks Investment Research downgraded Arista Networks from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Morgan Stanley downgraded Arista Networks from an “overweight” rating to an “equal weight” rating and set a $310.00 price objective for the company. in a research report on Tuesday, September 4th. William Blair restated an “outperform” rating on shares of Arista Networks in a research report on Monday, September 17th. Goldman Sachs Group downgraded Arista Networks from a “conviction-buy” rating to a “buy” rating in a research report on Thursday, October 4th. Finally, Berenberg Bank set a $350.00 price objective on Arista Networks and gave the stock a “buy” rating in a research report on Wednesday, September 19th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Arista Networks currently has an average rating of “Buy” and an average target price of $287.73.

NYSE ANET opened at $233.09 on Friday. Arista Networks Inc has a one year low of $177.92 and a one year high of $313.37. The company has a market cap of $17.88 billion, a P/E ratio of 50.13, a price-to-earnings-growth ratio of 1.75 and a beta of 1.47. The company has a quick ratio of 2.87, a current ratio of 3.17 and a debt-to-equity ratio of 0.02.

Arista Networks (NYSE:ANET) last released its earnings results on Thursday, August 2nd. The technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.50 by $0.43. Arista Networks had a return on equity of 28.51% and a net margin of 28.07%. The business had revenue of $519.85 million during the quarter, compared to analysts’ expectations of $509.62 million. During the same quarter last year, the firm posted $1.34 earnings per share. The firm’s revenue was up 28.3% on a year-over-year basis. As a group, research analysts predict that Arista Networks Inc will post 6.43 EPS for the current fiscal year.

Arista Networks Profile

Arista Networks, Inc provides cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of its extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

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

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