Arista Networks, Inc. (NYSE:ANET) Stock Holdings Lessened by Total Clarity Wealth Management Inc.

Total Clarity Wealth Management Inc. lessened its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 9.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 2,424 shares of the technology company’s stock after selling 254 shares during the quarter. Total Clarity Wealth Management Inc.’s holdings in Arista Networks were worth $850,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Benjamin Edwards Inc. bought a new position in shares of Arista Networks during the first quarter valued at approximately $26,000. Beacon Capital Management LLC increased its stake in shares of Arista Networks by 500.0% in the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after purchasing an additional 65 shares during the period. LGT Financial Advisors LLC acquired a new position in shares of Arista Networks during the second quarter worth approximately $27,000. Financial Synergies Wealth Advisors Inc. boosted its position in shares of Arista Networks by 872.7% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after buying an additional 96 shares during the period. Finally, Byrne Asset Management LLC bought a new position in Arista Networks in the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Price Performance

NYSE ANET opened at $359.76 on Monday. Arista Networks, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $376.50. The stock’s 50-day moving average is $341.07 and its two-hundred day moving average is $313.92. The firm has a market cap of $113.02 billion, a P/E ratio of 50.11, a price-to-earnings-growth ratio of 2.70 and a beta of 1.07.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.38. The firm had revenue of $1.69 billion during 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 company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.41 EPS. On average, equities analysts expect that Arista Networks, Inc. will post 7.38 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Evercore ISI reiterated an “outperform” rating and set a $400.00 price target on shares of Arista Networks in a research report on Friday. Rosenblatt Securities lifted their price target on Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st. Needham & Company LLC restated a “buy” rating and issued a $375.00 price objective on shares of Arista Networks in a report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their target price on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, UBS Group raised their target price on shares of Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and an average price target of $358.63.

Insider Buying and Selling

In other Arista Networks news, SVP Marc Taxay sold 624 shares of Arista Networks stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $354.71, for a total value of $221,339.04. The sale was disclosed in a filing with the SEC, which is available through this link. In other Arista Networks news, SVP Marc Taxay sold 624 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $354.71, for a total value of $221,339.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kelly Bodnar Battles sold 216 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $324.02, for a total transaction of $69,988.32. Following the completion of the sale, the director now owns 2,726 shares of the company’s stock, valued at approximately $883,278.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 106,989 shares of company stock valued at $37,891,416. Insiders own 3.54% of the company’s stock.

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.