Symphony Financial Ltd. Co. Sells 957 Shares of Arista Networks, Inc. (NYSE:ANET)

Symphony Financial Ltd. Co. lowered its stake in Arista Networks, Inc. (NYSE:ANET) by 12.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,671 shares of the technology company’s stock after selling 957 shares during the period. Symphony Financial Ltd. Co.’s holdings in Arista Networks were worth $1,062,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Arista Networks by 1.4% in the first quarter. Vanguard Group Inc. now owns 25,268,588 shares of the technology company’s stock valued at $3,511,828,000 after acquiring an additional 353,253 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Arista Networks by 2.0% during the 1st quarter. BlackRock Inc. now owns 18,734,818 shares of the technology company’s stock valued at $3,144,827,000 after buying an additional 372,420 shares in the last quarter. First Republic Investment Management Inc. boosted its holdings in shares of Arista Networks by 2,389.3% during the 4th quarter. First Republic Investment Management Inc. now owns 12,400,805 shares of the technology company’s stock valued at $1,504,838,000 after buying an additional 11,902,638 shares in the last quarter. State Street Corp boosted its holdings in shares of Arista Networks by 3.2% during the 1st quarter. State Street Corp now owns 9,991,923 shares of the technology company’s stock valued at $1,677,231,000 after buying an additional 313,036 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Arista Networks by 56.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,236,411 shares of the technology company’s stock valued at $999,488,000 after buying an additional 2,980,979 shares in the last quarter. Institutional investors own 67.13% of the company’s stock.

Arista Networks Price Performance

Shares of NYSE:ANET traded down $1.54 during mid-day trading on Tuesday, reaching $184.48. 405,833 shares of the company traded hands, compared to its average volume of 2,860,279. Arista Networks, Inc. has a 52 week low of $98.20 and a 52 week high of $198.70. The firm has a market cap of $57.11 billion, a PE ratio of 34.38, a PEG ratio of 1.79 and a beta of 1.17. The company’s 50 day moving average price is $179.32 and its 200-day moving average price is $163.97.

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

Insider Activity

In other news, insider John F. Mccool sold 1,000 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $197.78, for a total transaction of $197,780.00. Following the completion of the transaction, the insider now directly owns 144 shares in the company, valued at approximately $28,480.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $188.52, for a total transaction of $377,040.00. Following the sale, the director now owns 72,946 shares in the company, valued at approximately $13,751,779.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John F. Mccool sold 1,000 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $197.78, for a total value of $197,780.00. Following the sale, the insider now owns 144 shares in the company, valued at approximately $28,480.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 143,212 shares of company stock worth $26,086,688. 18.99% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. StockNews.com assumed coverage on shares of Arista Networks in a report on Thursday, August 17th. They set a “hold” rating on the stock. Barclays upped their price target on shares of Arista Networks from $179.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 1st. Piper Sandler upped their price target on shares of Arista Networks from $166.00 to $190.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 1st. The Goldman Sachs Group upped their price target on shares of Arista Networks from $193.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Finally, Argus upped their price target on shares of Arista Networks from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.