Beaumont Financial Advisors LLC Has $311,000 Position in Arista Networks, Inc. (NYSE:ANET)

Beaumont Financial Advisors LLC lowered its holdings in Arista Networks, Inc. (NYSE:ANET) by 6.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 811 shares of the technology company’s stock after selling 57 shares during the quarter. Beaumont Financial Advisors LLC’s holdings in Arista Networks were worth $311,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Benjamin Edwards Inc. bought a new stake in shares of Arista Networks during the 1st quarter worth $26,000. Beacon Capital Management LLC raised its stake in Arista Networks by 500.0% in the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after acquiring an additional 65 shares during the period. LGT Financial Advisors LLC bought a new stake in Arista Networks in the 2nd quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. raised its stake in Arista Networks by 872.7% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after acquiring an additional 96 shares during the period. Finally, Byrne Asset Management LLC bought a new stake in Arista Networks in the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Erste Group Bank restated a “buy” rating on shares of Arista Networks in a research note on Friday, June 14th. Evercore ISI upped their price target on Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Wells Fargo & Company upped their price target on Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. UBS Group upped their price target on Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $375.00 price target 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 given a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $369.50.

Arista Networks Stock Up 1.8 %

Shares of Arista Networks stock opened at $416.97 on Friday. The company has a market cap of $130.99 billion, a PE ratio of 54.08, a P/E/G ratio of 3.21 and a beta of 1.07. The business has a 50 day moving average of $357.39 and a 200 day moving average of $326.68. Arista Networks, Inc. has a 52 week low of $168.25 and a 52 week high of $417.71.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.41 earnings per share. On average, research analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Marc Taxay sold 628 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $350.50, for a total value of $220,114.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction on 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 of the company’s stock, valued at $1,280,374.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Marc Taxay sold 628 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $350.50, for a total value of $220,114.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,197 shares of company stock worth $21,326,894. 3.54% of the stock is owned by corporate insiders.

Arista Networks 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.