Shell Asset Management Co. Sells 303 Shares of Arista Networks, Inc. (NYSE:ANET)

Shell Asset Management Co. lowered its holdings in Arista Networks, Inc. (NYSE:ANETGet Rating) by 39.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 460 shares of the technology company’s stock after selling 303 shares during the quarter. Shell Asset Management Co.’s holdings in Arista Networks were worth $43,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. JFS Wealth Advisors LLC raised its stake in shares of Arista Networks by 926.9% during the 1st quarter. JFS Wealth Advisors LLC now owns 267 shares of the technology company’s stock worth $37,000 after acquiring an additional 241 shares in the last quarter. San Luis Wealth Advisors LLC bought a new position in shares of Arista Networks during the 1st quarter worth approximately $39,000. Nvwm LLC bought a new position in shares of Arista Networks during the 1st quarter worth approximately $53,000. CENTRAL TRUST Co bought a new position in shares of Arista Networks during the 1st quarter worth approximately $66,000. Finally, Clear Street Markets LLC raised its stake in shares of Arista Networks by 415.2% during the 2nd quarter. Clear Street Markets LLC now owns 474 shares of the technology company’s stock worth $44,000 after acquiring an additional 382 shares in the last quarter. Institutional investors own 63.82% of the company’s stock.

Arista Networks Stock Performance

Shares of NYSE ANET opened at $135.48 on Friday. The company’s fifty day moving average price is $117.65 and its 200 day moving average price is $111.71. Arista Networks, Inc. has a 1 year low of $89.11 and a 1 year high of $148.57. The company has a market capitalization of $41.40 billion, a PE ratio of 36.92, a price-to-earnings-growth ratio of 2.00 and a beta of 1.27.

Arista Networks (NYSE:ANETGet Rating) last announced its quarterly 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. Arista Networks had a net margin of 29.63% and a return on equity of 27.23%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the firm posted $0.60 earnings per share. The firm’s quarterly revenue was up 57.2% compared to the same quarter last year. On average, equities analysts expect that Arista Networks, Inc. will post 3.78 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Needham & Company LLC boosted their price objective on shares of Arista Networks from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, November 4th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Arista Networks from $135.00 to $140.00 in a research report on Thursday, November 3rd. Cowen boosted their target price 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. Rosenblatt Securities boosted their target price on shares of Arista Networks from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, November 1st. Finally, Credit Suisse Group boosted their target price on shares of Arista Networks from $119.00 to $140.00 and gave the stock a “neutral” rating in a research report on Monday, November 7th. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $166.53.

Insider Buying and Selling

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $125.08, for a total transaction of $250,160.00. Following the completion of the transaction, the director now directly owns 96,946 shares in the company, valued at $12,126,005.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $127.38, for a total transaction of $2,547,600.00. Following the completion of the transaction, the senior vice president now directly owns 3,244 shares in the company, valued at $413,220.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the company’s 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 transaction, the director now owns 96,946 shares of the company’s stock, valued at $12,126,005.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 73,561 shares of company stock valued at $8,904,336. Corporate insiders own 19.59% of the company’s stock.

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

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

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