Sigma Planning Corp Sells 527 Shares of Arista Networks, Inc. (NYSE:ANET)

Sigma Planning Corp reduced its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 10.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,754 shares of the technology company’s stock after selling 527 shares during the period. Sigma Planning Corp’s holdings in Arista Networks were worth $1,120,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Larson Financial Group LLC bought a new position in Arista Networks during the 3rd quarter worth $28,000. First Command Advisory Services Inc. acquired a new position in shares of Arista Networks in the 3rd quarter valued at about $29,000. BluePath Capital Management LLC acquired a new position in shares of Arista Networks in the 3rd quarter valued at about $33,000. NBC Securities Inc. acquired a new position in shares of Arista Networks in the 3rd quarter valued at about $33,000. Finally, Atticus Wealth Management LLC lifted its stake in shares of Arista Networks by 3,625.0% in the 4th quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock valued at $35,000 after purchasing an additional 145 shares during the period. 82.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ANET has been the topic of a number of recent analyst reports. Barclays boosted their price objective on Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. Melius raised Arista Networks from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $320.00 target price on shares of Arista Networks in a research report on Tuesday, February 13th. The Goldman Sachs Group boosted their target price on Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, Melius Research raised Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a research report on Monday, January 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $275.59.

Insider Activity at Arista Networks

In related news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $284.31, for a total value of $5,686,200.00. Following the transaction, the senior vice president now owns 3,244 shares in the company, valued at $922,301.64. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Yvonne Wassenaar sold 224 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total value of $57,184.96. Following the transaction, the director now owns 2,827 shares in the company, valued at $721,704.83. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $284.31, for a total value of $5,686,200.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares in the company, valued at approximately $922,301.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 334,227 shares of company stock worth $95,828,875. Insiders own 18.99% of the company’s stock.

Arista Networks Stock Down 0.2 %

ANET stock opened at $245.53 on Tuesday. The firm has a market cap of $76.76 billion, a PE ratio of 37.37, a P/E/G ratio of 2.10 and a beta of 1.09. The business has a 50 day moving average of $279.58 and a 200-day moving average of $245.79. Arista Networks, Inc. has a 12-month low of $131.68 and a 12-month high of $307.74.

Arista Networks (NYSE:ANET) last released its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.38. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. Arista Networks’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.25 earnings per share. On average, research analysts expect that Arista Networks, Inc. will post 6.7 earnings per share for the current year.

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.