Diversify Advisory Services LLC Sells 1,803 Shares of Arista Networks, Inc. (NYSE:ANET)

Diversify Advisory Services LLC trimmed its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 32.0% in the 3rd quarter, Holdings Channel reports. The firm owned 3,831 shares of the technology company’s stock after selling 1,803 shares during the period. Diversify Advisory Services LLC’s holdings in Arista Networks were worth $1,519,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. First Affirmative Financial Network raised its stake in Arista Networks by 4.3% during the 3rd quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock valued at $262,000 after buying an additional 28 shares during the last quarter. FCG Investment Co increased its position in Arista Networks by 2.3% during the second quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock valued at $445,000 after acquiring an additional 29 shares during the last quarter. Everpar Advisors LLC lifted its holdings in Arista Networks by 1.5% in the third quarter. Everpar Advisors LLC now owns 1,907 shares of the technology company’s stock valued at $732,000 after acquiring an additional 29 shares during the period. Foundations Investment Advisors LLC boosted its position in Arista Networks by 5.0% in the third quarter. Foundations Investment Advisors LLC now owns 653 shares of the technology company’s stock worth $251,000 after purchasing an additional 31 shares during the last quarter. Finally, Old Port Advisors grew its stake in shares of Arista Networks by 3.5% during the 1st quarter. Old Port Advisors now owns 955 shares of the technology company’s stock valued at $277,000 after purchasing an additional 32 shares during the period. Institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Up 2.3 %

ANET opened at $401.57 on Wednesday. The company has a market capitalization of $125.84 billion, a PE ratio of 55.93, a price-to-earnings-growth ratio of 3.21 and a beta of 1.07. The firm has a 50-day simple moving average of $373.86 and a two-hundred day simple moving average of $337.07. Arista Networks, Inc. has a 52 week low of $174.59 and a 52 week high of $422.73.

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

Insider Activity

In related 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 sale, the director now owns 2,192 shares in the company, valued at approximately $869,084.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now owns 3,244 shares in the company, valued at approximately $1,280,374.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kelly Bodnar Battles sold 373 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 2,192 shares in the company, valued at approximately $869,084.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,570 shares of company stock worth $21,474,782. 3.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ANET. Needham & Company LLC restated a “buy” rating and set a $375.00 target price on shares of Arista Networks in a research report on Wednesday, July 31st. Morgan Stanley upped their price objective on Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. 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. Barclays raised their price objective on Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, The Goldman Sachs Group boosted their price objective on Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. One equities research 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, Arista Networks has an average rating of “Moderate Buy” and a consensus target price of $369.50.

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.