Tevis Investment Management Sells 83 Shares of Arista Networks, Inc. (NYSE:ANET)

Tevis Investment Management trimmed its position in shares of Arista Networks, Inc. (NYSE:ANET) by 6.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,122 shares of the technology company’s stock after selling 83 shares during the period. Tevis Investment Management’s holdings in Arista Networks were worth $431,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ANET. Beacon Capital Management LLC boosted its position in shares of Arista Networks by 500.0% during 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 in the last quarter. LGT Financial Advisors LLC bought a new position in shares of Arista Networks during the 2nd quarter worth approximately $27,000. Byrne Asset Management LLC acquired a new stake in Arista Networks in the 2nd quarter valued at $33,000. Sugarloaf Wealth Management LLC bought a new stake in Arista Networks in the second quarter valued at $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Arista Networks during the second quarter worth $35,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Price Performance

Shares of NYSE ANET opened at $395.98 on Thursday. Arista Networks, Inc. has a fifty-two week low of $187.68 and a fifty-two week high of $422.73. The firm has a market capitalization of $124.09 billion, a P/E ratio of 55.15, a P/E/G ratio of 3.21 and a beta of 1.07. The company’s 50 day simple moving average is $374.66 and its 200 day simple moving average is $337.48.

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

Insider Buying and Selling at Arista Networks

In other news, Director Kelly Bodnar Battles sold 373 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $396.48, for a total transaction of $147,887.04. Following the completion of the transaction, the director now directly owns 2,192 shares in the company, valued at approximately $869,084.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Kelly Bodnar Battles sold 373 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $396.48, for a total value of $147,887.04. Following the completion of the transaction, the director now owns 2,192 shares of the company’s stock, valued at $869,084.16. 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 hyperlink. Also, CEO Jayshree Ullal sold 17,752 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $354.29, for a total transaction of $6,289,356.08. Following the completion of the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $6,264,201.49. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,354 shares of company stock valued at $20,364,014. 3.54% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ANET shares. Barclays upped their target price on shares of Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Evercore ISI upped their price objective on shares of Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Rosenblatt Securities lifted their target price on shares of Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. boosted their target price on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group raised their price target on Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. One 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 stock. According to MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $373.88.

Arista Networks Company 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.