Mirabella Financial Services LLP Sells 185,651 Shares of Arista Networks, Inc. $ANET

Mirabella Financial Services LLP decreased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 94.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,005 shares of the technology company’s stock after selling 185,651 shares during the quarter. Mirabella Financial Services LLP’s holdings in Arista Networks were worth $1,028,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bare Financial Services Inc lifted its stake in Arista Networks by 2,118.2% in the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after acquiring an additional 233 shares during the period. Saudi Central Bank bought a new stake in shares of Arista Networks in the 1st quarter valued at about $33,000. REAP Financial Group LLC raised its holdings in shares of Arista Networks by 108.0% in the 2nd quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock valued at $34,000 after purchasing an additional 175 shares in the last quarter. eCIO Inc. purchased a new stake in shares of Arista Networks in the 1st quarter worth approximately $36,000. Finally, Solstein Capital LLC boosted its stake in shares of Arista Networks by 493.8% during the second quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock valued at $39,000 after purchasing an additional 316 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analyst Ratings Changes

ANET has been the subject of a number of recent research reports. Rosenblatt Securities restated a “neutral” rating and set a $140.00 target price on shares of Arista Networks in a report on Monday, November 24th. Citigroup boosted their price target on Arista Networks from $136.00 to $176.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. JPMorgan Chase & Co. raised their price objective on Arista Networks from $150.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, September 12th. Wolfe Research lifted their target price on Arista Networks from $160.00 to $185.00 and gave the company an “outperform” rating in a research note on Friday, September 12th. Finally, Wells Fargo & Company boosted their target price on shares of Arista Networks from $150.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Eighteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $164.31.

Arista Networks Price Performance

Arista Networks stock opened at $128.54 on Friday. Arista Networks, Inc. has a 1-year low of $59.43 and a 1-year high of $164.94. The business has a fifty day moving average price of $140.51 and a 200-day moving average price of $125.14. The stock has a market capitalization of $161.87 billion, a price-to-earnings ratio of 48.87, a PEG ratio of 2.47 and a beta of 1.41.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The firm’s revenue was up 27.5% compared to the same quarter last year. During the same period last year, the business posted $2.40 earnings per share. On average, equities research analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jayshree Ullal sold 1,247,688 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $148.53, for a total value of $185,319,098.64. Following the completion of the transaction, the chief executive officer directly owned 5,383,207 shares of the company’s stock, valued at $799,567,735.71. This trade represents a 18.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles H. Giancarlo sold 58,000 shares of the business’s stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $148.42, for a total transaction of $8,608,360.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,578,700 shares of company stock worth $231,687,618 over the last 90 days. 3.39% of the stock is currently owned by corporate insiders.

Arista Networks 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.