Weaver Capital Management LLC Decreases Stock Position in Arista Networks, Inc. (NYSE:ANET)

Weaver Capital Management LLC lessened its position in Arista Networks, Inc. (NYSE:ANET) by 12.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,254 shares of the technology company’s stock after selling 730 shares during the quarter. Weaver Capital Management LLC’s holdings in Arista Networks were worth $2,017,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Beacon Capital Management LLC lifted its position in Arista Networks by 500.0% during the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after buying an additional 65 shares in the last quarter. LGT Financial Advisors LLC purchased a new position in Arista Networks during the second quarter worth approximately $27,000. Byrne Asset Management LLC purchased a new position in Arista Networks during the second quarter worth approximately $33,000. Sugarloaf Wealth Management LLC purchased a new position in Arista Networks during the second quarter worth approximately $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Arista Networks during the second quarter worth approximately $35,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $375.00 price objective on shares of Arista Networks in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their target price on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Piper Sandler lifted their target price on Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Evercore ISI lifted their target price on Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Finally, Rosenblatt Securities lifted their target price on Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $369.50.

Insider Buying and Selling

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $1,280,374.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Arista Networks news, CEO Jayshree Ullal sold 832 shares of Arista Networks stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $318.12, for a total transaction of $264,675.84. Following the completion of the sale, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at $5,624,679.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $394.69, for a total value 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 disclosure for this sale can be found here. Insiders sold 58,197 shares of company stock valued at $21,326,894 in the last three months. 3.54% of the stock is owned by corporate insiders.

Arista Networks Price Performance

ANET opened at $396.62 on Wednesday. Arista Networks, Inc. has a 12 month low of $168.25 and a 12 month high of $422.73. The stock has a market capitalization of $124.29 billion, a price-to-earnings ratio of 55.24, a PEG ratio of 3.21 and a beta of 1.07. The business has a fifty day moving average price of $369.61 and a 200 day moving average price of $333.34.

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

About Arista Networks

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.