IFP Advisors Inc lessened its stake in Arista Networks Inc (NYSE:ANET) by 48.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 443 shares of the technology company’s stock after selling 421 shares during the quarter. IFP Advisors Inc’s holdings in Arista Networks were worth $118,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of ANET. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in shares of Arista Networks during the 2nd quarter valued at about $129,000. Signet Financial Management LLC bought a new stake in shares of Arista Networks during the 2nd quarter valued at about $142,000. NewSquare Capital LLC bought a new stake in shares of Arista Networks during the 2nd quarter valued at about $181,000. Foundry Partners LLC bought a new stake in shares of Arista Networks during the 3rd quarter valued at about $200,000. Finally, Hartford Investment Management Co. bought a new stake in shares of Arista Networks during the 2nd quarter valued at about $204,000. Institutional investors and hedge funds own 54.32% of the company’s stock.

ANET has been the subject of a number of recent research reports. Citigroup boosted their price objective on shares of Arista Networks from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Friday, November 2nd. Argus boosted their price objective on shares of Arista Networks to $320.00 and gave the company a “buy” rating in a research report on Monday, August 6th. UBS Group initiated coverage on shares of Arista Networks in a research report on Wednesday, September 26th. They set a “neutral” rating and a $290.00 price objective for the company. ValuEngine downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Saturday, October 6th. Finally, JPMorgan Chase & Co. upped their target price on shares of Arista Networks from $282.00 to $287.00 and gave the stock a “hold” rating in a research report on Monday, July 23rd. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $291.83.

In other news, insider Jayshree Ullal sold 76,659 shares of the company’s stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $306.41, for a total value of $23,489,084.19. Following the completion of the sale, the insider now directly owns 3,809 shares of the company’s stock, valued at approximately $1,167,115.69. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Andreas Bechtolsheim sold 31,917 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $303.00, for a total transaction of $9,670,851.00. Following the completion of the sale, the insider now directly owns 4,144 shares of the company’s stock, valued at $1,255,632. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 203,820 shares of company stock valued at $60,871,675. Company insiders own 24.95% of the company’s stock.

Shares of NYSE:ANET opened at $244.43 on Friday. The company has a market capitalization of $19.02 billion, a PE ratio of 39.10, a P/E/G ratio of 1.75 and a beta of 1.56. Arista Networks Inc has a twelve month low of $206.86 and a twelve month high of $313.37. The company has a quick ratio of 4.11, a current ratio of 4.51 and a debt-to-equity ratio of 0.02.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, November 1st. The technology company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.21. The company had revenue of $563.31 million during the quarter, compared to analyst estimates of $548.81 million. Arista Networks had a net margin of 28.05% and a return on equity of 29.06%. The business’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.62 EPS. Equities analysts forecast that Arista Networks Inc will post 6.81 earnings per share for the current year.

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About Arista Networks

Arista Networks, Inc provides cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of its extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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