Ellevest Inc. Cuts Stake in Arista Networks, Inc. (NYSE:ANET)


Ellevest Inc. reduced its position in Arista Networks, Inc. (NYSE:ANET – Get Rating) by 17.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 727 shares of the technology company after selling 155 shares during the quarter. Ellevest Inc.’s holdings in Arista Networks were worth $101,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Captrust Financial Advisors increased its holding in Arista Networks shares by 2.1% in the third quarter. Captrust Financial Advisors now owns 1,770 shares of the technology company valued at $608,000 after purchasing an additional 36 shares during the period. Green Alpha Advisors LLC increased its holding in Arista Networks stock by 1.0% in the first quarter. Green Alpha Advisors LLC now owns 10,404 shares of the tech company worth $1,446,000 after buying an additional 108 shares last quarter. Huntington National Bank increased its holdings in Arista Networks stock by 300.0% in the fourth quarter. Huntington National Bank now owns 188 shares of the technology company worth $27,000 after buying an additional 141 shares during the last quarter. JJJ Advisors Inc. increased its holding in Arista Networks stock by 300.0% in the fourth quarter. JJJ Advisors Inc. now owns 196 shares of the tech company worth $28,000 after buying an additional 147 shares last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its holding in Arista Networks stock by 300.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 200 shares of the tech company worth $29,000 after buying an additional 150 shares last quarter. Currently, 67.10% of the shares are owned by institutional investors and hedge funds.

ANET shares opened at $93.41 on Friday. The company has a market cap of $28.79 billion, a P/E ratio of 31.99, a P/E/Growth ratio of 1.99, and a beta of 1.29. Arista Networks, Inc. has a twelve month minimum of $85.18 and a twelve month maximum of $148.57. The company has a 50-day moving average of $102.81 and a 200-day moving average of $119.77.

Arista Networks (NYSE:ANET – Get Rating) last announced its earnings results on Monday, May 2. The tech company reported earnings per share of $0.78 for the quarter, beating the consensus estimate of $0.68 by $0.10. The company had revenue of $877.07 million for the quarter, compared to the consensus estimate of $854.01 million. Arista Networks had a net margin of 29.54% and a return on equity of 21.16%. During the same period last year, the company made $0.57 of earnings per share. As a group, research analysts anticipate Arista Networks, Inc. to post earnings per share of 3.18 for the current fiscal year.

In other Arista Networks news, Senior Vice President Kenneth Duda sold 20,000 shares of the company in a transaction on Friday, June 10. The shares were sold at an average price of $95.66, for a total value of $1,913,200.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares of the company, valued at $310,321.04. The transaction was disclosed in a filing with the SEC, which is available at this link. Likewise, SVP Marc Taxay sold 1,044 shares of the firm’s capital stock in a transaction on Monday, May 2. The shares were sold at an average price of $115.71, for a total transaction of $120,801.24. Disclosure of this sale can be found here. In the last ninety days, insiders sold 543,280 shares of the company valued at $57,266,244. Corporate experts own 19.59% of the company’s shares.

Several research analysts have recently commented on ANET’s stock. Barclays cut its price target on Arista Networks shares from $140.00 to $138.00 in a report on Tuesday, May 3. Wells Fargo & Company upgraded shares of Arista Networks from an “equal weight” rating to an “overweight” rating and raised its price target on the stock from $142.00 to $160.00 in a report on Thursday, March 10. Cowen increased the price target on Arista Networks shares from $151.00 to $154.00 in a report on Tuesday, May 3. Evercore ISI lowered its price target on Arista Networks stock from $160.00 to $120.00 and set an “outperform” rating on the stock in a report Tuesday, June 28. Finally, StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, May 5. Seven analysts rated the stock a hold rating and thirteen issued a buy rating on the stock. According to MarketBeat.com, the stock currently has an average “Moderate Buy” rating and an average price target of $152.53.

About Arista Networks (Get rating)

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and Asia-Pacific. The company’s cloud networking solutions consist of extensible operating systems, a suite of networking applications, as well as Gigabit Ethernet switching and routing platforms.

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



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