Arista Networks, Inc. (NYSE:ANET) Shares Sold by Prospera Financial Services Inc

Prospera Financial Services Inc lowered its stake in Arista Networks, Inc. (NYSE:ANETGet Rating) by 25.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 544 shares of the technology company’s stock after selling 185 shares during the quarter. Prospera Financial Services Inc’s holdings in Arista Networks were worth $51,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ANET. Y Intercept Hong Kong Ltd acquired a new stake in shares of Arista Networks during the second quarter worth about $1,698,000. Meeder Asset Management Inc. lifted its position in shares of Arista Networks by 17.8% during the second quarter. Meeder Asset Management Inc. now owns 1,980 shares of the technology company’s stock worth $186,000 after purchasing an additional 299 shares in the last quarter. Employees Retirement System of Texas acquired a new stake in shares of Arista Networks during the second quarter worth about $3,281,000. Banco Bilbao Vizcaya Argentaria S.A. lifted its position in shares of Arista Networks by 1.9% during the second quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 79,948 shares of the technology company’s stock worth $7,495,000 after purchasing an additional 1,467 shares in the last quarter. Finally, Ascent Group LLC acquired a new stake in shares of Arista Networks during the second quarter worth about $287,000. Institutional investors and hedge funds own 63.82% of the company’s stock.

Insider Buying and Selling

In related news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction on Friday, September 9th. The stock was sold at an average price of $125.08, for a total transaction of $250,160.00. Following the completion of the sale, the director now directly owns 96,946 shares of the company’s stock, valued at $12,126,005.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction on Friday, September 9th. The stock was sold at an average price of $125.08, for a total transaction of $250,160.00. Following the completion of the sale, the director now directly owns 96,946 shares of the company’s stock, valued at $12,126,005.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kelly Bodnar Battles sold 400 shares of the stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $123.83, for a total value of $49,532.00. Following the sale, the director now directly owns 1,923 shares of the company’s stock, valued at $238,125.09. The disclosure for this sale can be found here. Insiders sold a total of 73,561 shares of company stock valued at $8,904,336 over the last three months. 19.59% of the stock is currently owned by company insiders.

Arista Networks Trading Up 1.1 %

Shares of ANET opened at $132.65 on Wednesday. The firm has a market cap of $40.53 billion, a PE ratio of 36.14, a price-to-earnings-growth ratio of 1.96 and a beta of 1.27. The company’s 50 day simple moving average is $117.03 and its 200-day simple moving average is $111.33. Arista Networks, Inc. has a 12-month low of $89.11 and a 12-month high of $148.57.

Arista Networks (NYSE:ANETGet Rating) last announced its earnings results on Monday, October 31st. The technology company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.21. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.06 billion. Arista Networks had a net margin of 29.63% and a return on equity of 27.23%. The company’s revenue for the quarter was up 57.2% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share. As a group, equities research analysts forecast that Arista Networks, Inc. will post 3.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ANET. Cowen increased their price target on shares of Arista Networks from $163.00 to $203.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 1st. KeyCorp reduced their price target on shares of Arista Networks from $170.00 to $161.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 1st. Citigroup upped their target price on shares of Arista Networks from $170.00 to $190.00 in a research note on Friday, November 4th. StockNews.com initiated coverage on shares of Arista Networks in a research note on Wednesday, October 12th. They set a “buy” rating on the stock. Finally, Morgan Stanley upped their target price on shares of Arista Networks from $115.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Monday, November 7th. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $166.53.

Arista Networks Company Profile

(Get Rating)

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

See Also

Want to see what other hedge funds are holding ANET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arista Networks, Inc. (NYSE:ANETGet Rating).

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

Receive News & Ratings for Arista Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks and related companies with MarketBeat.com's FREE daily email newsletter.