Lodestone Wealth Management LLC Sells 147 Shares of Arista Networks, Inc. (NYSE:ANET)

Lodestone Wealth Management LLC decreased its holdings in Arista Networks, Inc. (NYSE:ANET) by 17.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 710 shares of the technology company’s stock after selling 147 shares during the quarter. Lodestone Wealth Management LLC’s holdings in Arista Networks were worth $273,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. GQG Partners LLC bought a new position in shares of Arista Networks in the first quarter valued at approximately $881,848,000. Legal & General Group Plc raised its position in Arista Networks by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 2,195,733 shares of the technology company’s stock valued at $769,560,000 after buying an additional 20,278 shares during the last quarter. Swedbank AB bought a new position in Arista Networks during the 1st quarter valued at $521,767,000. Ameriprise Financial Inc. boosted its holdings in Arista Networks by 97.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock worth $628,966,000 after acquiring an additional 884,703 shares during the last quarter. Finally, TD Asset Management Inc grew its stake in shares of Arista Networks by 18.7% in the 1st quarter. TD Asset Management Inc now owns 943,694 shares of the technology company’s stock worth $273,652,000 after acquiring an additional 148,759 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Activity at Arista Networks

In other news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the sale, the senior vice president now directly owns 3,244 shares in the company, valued at $1,280,374.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, SVP Marc Taxay sold 4,497 shares of Arista Networks stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $336.32, for a total transaction of $1,512,431.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $394.69, for a total value of $7,893,800.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares in the company, valued at $1,280,374.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,522 shares of company stock worth $20,099,338. 3.54% of the stock is owned by company insiders.

Arista Networks Price Performance

Shares of ANET stock opened at $394.17 on Friday. The stock has a market capitalization of $123.83 billion, a price-to-earnings ratio of 51.12, a PEG ratio of 3.49 and a beta of 1.07. The company’s fifty day simple moving average is $376.13 and its two-hundred day simple moving average is $339.26. Arista Networks, Inc. has a 1 year low of $203.19 and a 1 year high of $422.73.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ANET shares. Evercore ISI raised their price target on shares of Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. KeyCorp boosted their target price on Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. The Goldman Sachs Group increased their price target on Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Morgan Stanley boosted their price objective on Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $375.00 target price on shares of Arista Networks in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $373.88.

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.