Gunderson Capital Management Inc. Sells 168 Shares of Arista Networks, Inc. (NYSE:ANET)

Gunderson Capital Management Inc. trimmed its stake in Arista Networks, Inc. (NYSE:ANET) by 1.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,548 shares of the technology company’s stock after selling 168 shares during the period. Gunderson Capital Management Inc.’s holdings in Arista Networks were worth $1,385,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. grew its stake in Arista Networks by 2.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 2,801 shares of the technology company’s stock valued at $470,000 after buying an additional 71 shares during the last quarter. Argent Trust Co lifted its position in shares of Arista Networks by 3.8% during the 1st quarter. Argent Trust Co now owns 2,045 shares of the technology company’s stock worth $343,000 after purchasing an additional 75 shares during the last quarter. ETF Managers Group LLC boosted its stake in Arista Networks by 1.5% during the 1st quarter. ETF Managers Group LLC now owns 5,193 shares of the technology company’s stock valued at $872,000 after purchasing an additional 77 shares during the period. Alaethes Wealth LLC grew its holdings in Arista Networks by 0.5% in the 1st quarter. Alaethes Wealth LLC now owns 14,715 shares of the technology company’s stock valued at $2,470,000 after buying an additional 80 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its position in Arista Networks by 0.6% in the 1st quarter. Louisiana State Employees Retirement System now owns 16,100 shares of the technology company’s stock worth $2,703,000 after buying an additional 100 shares during the period. Institutional investors own 67.13% of the company’s stock.

Arista Networks Stock Down 1.5 %

Shares of ANET stock traded down $2.84 during trading on Friday, reaching $184.72. The company’s stock had a trading volume of 2,104,786 shares, compared to its average volume of 2,881,978. The business has a fifty day moving average price of $178.79 and a 200-day moving average price of $163.30. Arista Networks, Inc. has a one year low of $98.20 and a one year high of $198.70. The company has a market cap of $57.19 billion, a price-to-earnings ratio of 34.14, a price-to-earnings-growth ratio of 1.83 and a beta of 1.17.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Monday, July 31st. The technology company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.29. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Arista Networks had a return on equity of 31.19% and a net margin of 32.48%. The company’s quarterly revenue was up 38.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 EPS. Research analysts anticipate that Arista Networks, Inc. will post 5.49 EPS for the current year.

Insider Buying and Selling

In other news, SVP Marc Taxay sold 1,040 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $161.34, for a total transaction of $167,793.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Marc Taxay sold 1,040 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $161.34, for a total transaction of $167,793.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Anshul Sadana sold 13,504 shares of the stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $170.05, for a total value of $2,296,355.20. Following the completion of the transaction, the chief operating officer now owns 30,082 shares of the company’s stock, valued at $5,115,444.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 141,212 shares of company stock worth $25,709,648. Corporate insiders own 18.99% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ANET. JMP Securities reaffirmed a “market outperform” rating and set a $200.00 target price on shares of Arista Networks in a research report on Tuesday, August 1st. Wells Fargo & Company lifted their target price on Arista Networks from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 1st. Bank of America upped their price target on Arista Networks from $190.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday. Piper Sandler lifted their price objective on Arista Networks from $166.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday, August 1st. Finally, KeyCorp upped their target price on Arista Networks from $206.00 to $217.00 and gave the company an “overweight” rating in a research note on Tuesday, August 1st. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.40.

About Arista Networks

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.