Circle Wealth Management LLC Cuts Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Circle Wealth Management LLC decreased its holdings in shares of Arista Networks, Inc. (NYSE:ANETGet Rating) by 6.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,383 shares of the technology company’s stock after selling 343 shares during the quarter. Circle Wealth Management LLC’s holdings in Arista Networks were worth $748,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Park Avenue Securities LLC lifted its position in Arista Networks by 9.6% in the 1st quarter. Park Avenue Securities LLC now owns 3,672 shares of the technology company’s stock worth $510,000 after buying an additional 322 shares during the last quarter. Prospera Financial Services Inc bought a new stake in Arista Networks in the 1st quarter worth approximately $101,000. Quadrant Capital Group LLC lifted its position in Arista Networks by 44.7% in the 1st quarter. Quadrant Capital Group LLC now owns 1,448 shares of the technology company’s stock worth $201,000 after buying an additional 447 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its position in Arista Networks by 296.5% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 35,533 shares of the technology company’s stock worth $5,108,000 after buying an additional 26,572 shares during the last quarter. Finally, Mutual of America Capital Management LLC lifted its position in Arista Networks by 1.1% in the 1st quarter. Mutual of America Capital Management LLC now owns 29,939 shares of the technology company’s stock worth $4,161,000 after buying an additional 319 shares during the last quarter. Hedge funds and other institutional investors own 63.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Barclays dropped their target price on Arista Networks from $138.00 to $131.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 2nd. Rosenblatt Securities boosted their price objective on Arista Networks from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd. Credit Suisse Group boosted their price objective on Arista Networks from $178.00 to $185.00 and gave the company an “outperform” rating in a research report on Tuesday, August 2nd. Morgan Stanley boosted their price objective on Arista Networks from $114.00 to $125.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 2nd. Finally, Citigroup boosted their price objective on Arista Networks from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $156.40.

Arista Networks Stock Up 1.3 %

Shares of ANET stock opened at $124.41 on Friday. The stock has a market cap of $37.86 billion, a price-to-earnings ratio of 38.37, a PEG ratio of 1.83 and a beta of 1.33. The business’s fifty day moving average is $115.41 and its 200 day moving average is $114.80. Arista Networks, Inc. has a twelve month low of $85.18 and a twelve month high of $148.57.

Arista Networks (NYSE:ANETGet Rating) last issued its quarterly earnings results on Monday, August 1st. The technology company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.20. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $979.66 million. Arista Networks had a return on equity of 24.03% and a net margin of 29.55%. The firm’s revenue for the quarter was up 48.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.56 earnings per share. Equities research analysts expect that Arista Networks, Inc. will post 3.53 earnings per share for the current fiscal year.

Insider Transactions at Arista Networks

In other news, insider John F. Mccool sold 3,085 shares of the stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $126.04, for a total value of $388,833.40. Following the sale, the insider now directly owns 332 shares of the company’s stock, valued at $41,845.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider John F. Mccool sold 3,085 shares of the stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $126.04, for a total value of $388,833.40. Following the sale, the insider now directly owns 332 shares of the company’s stock, valued at $41,845.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Ita M. Brennan sold 19,500 shares of the stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $129.60, for a total value of $2,527,200.00. Following the completion of the sale, the chief financial officer now directly owns 28,500 shares in the company, valued at $3,693,600. The disclosure for this sale can be found here. Over the last three months, insiders have sold 246,229 shares of company stock valued at $29,995,331. Insiders own 19.59% of the company’s stock.

Arista Networks Company Profile

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Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms.

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

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