Arista Networks, Inc. (NYSE:ANET) Position Trimmed by Moody Lynn & Lieberson LLC

Moody Lynn & Lieberson LLC decreased its position in Arista Networks, Inc. (NYSE:ANET) by 4.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 19,387 shares of the technology company’s stock after selling 916 shares during the quarter. Moody Lynn & Lieberson LLC’s holdings in Arista Networks were worth $7,441,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ANET. Beacon Capital Management LLC grew its stake in shares of Arista Networks by 500.0% in the 2nd 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 in the last quarter. LGT Financial Advisors LLC bought a new stake in shares of Arista Networks in the 2nd quarter valued at approximately $27,000. Byrne Asset Management LLC bought a new stake in shares of Arista Networks in the 2nd quarter valued at approximately $33,000. Sugarloaf Wealth Management LLC bought a new stake in shares of Arista Networks in the 2nd quarter valued at approximately $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Arista Networks in the 2nd quarter valued at approximately $35,000. Institutional investors own 82.47% of the company’s stock.

Arista Networks Trading Up 0.4 %

Shares of NYSE ANET opened at $395.57 on Friday. The business has a fifty day simple moving average of $370.52 and a 200 day simple moving average of $333.77. The firm has a market capitalization of $123.96 billion, a price-to-earnings ratio of 55.09, a PEG ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a one year low of $168.25 and a one year high of $422.73.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.38. The business 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%. Arista Networks’s revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.41 earnings per share. On average, research analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Insider Activity at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 832 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $318.12, for a total value of $264,675.84. Following the sale, the chief executive officer now directly owns 17,681 shares in the company, valued at $5,624,679.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Jayshree Ullal sold 832 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $318.12, for a total transaction of $264,675.84. Following the sale, the chief executive officer now owns 17,681 shares in the company, valued at approximately $5,624,679.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kelly Bodnar Battles sold 373 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $396.48, for a total value of $147,887.04. Following the sale, the director now owns 2,192 shares in the company, valued at $869,084.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,570 shares of company stock worth $21,474,782. 3.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ANET has been the subject of several analyst reports. Piper Sandler boosted their target price on Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. UBS Group boosted their target price on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Morgan Stanley boosted their target price on Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. boosted 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, KeyCorp boosted their target price on Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and an average 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.