Beaumont Financial Advisors LLC Reduces Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Beaumont Financial Advisors LLC trimmed its position in Arista Networks, Inc. (NYSE:ANET) by 6.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 811 shares of the technology company’s stock after selling 57 shares during the period. Beaumont Financial Advisors LLC’s holdings in Arista Networks were worth $311,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. FCG Investment Co raised its stake in shares of Arista Networks by 2.3% in the second quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock worth $445,000 after buying an additional 29 shares during the period. Everpar Advisors LLC raised its stake in shares of Arista Networks by 1.5% in the third quarter. Everpar Advisors LLC now owns 1,907 shares of the technology company’s stock worth $732,000 after buying an additional 29 shares during the period. Old Port Advisors raised its stake in 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. IAM Advisory LLC raised its stake in Arista Networks by 1.8% during the 3rd quarter. IAM Advisory LLC now owns 1,858 shares of the technology company’s stock valued at $713,000 after purchasing an additional 32 shares during the period. Finally, Fortitude Family Office LLC raised its stake in Arista Networks by 33.3% during the 2nd quarter. Fortitude Family Office LLC now owns 132 shares of the technology company’s stock valued at $46,000 after purchasing an additional 33 shares during the period. Institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Performance

Shares of Arista Networks stock opened at $416.97 on Friday. The stock has a market cap of $130.99 billion, a price-to-earnings ratio of 54.08, a price-to-earnings-growth ratio of 3.21 and a beta of 1.07. The stock has a 50 day moving average price of $357.39 and a 200-day moving average price of $326.68. Arista Networks, Inc. has a one year low of $168.25 and a one year high of $417.71.

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

Analyst Ratings Changes

Several brokerages recently issued reports on ANET. Morgan Stanley lifted their target price on Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. Rosenblatt Securities lifted their target price on Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a research note on Wednesday, July 31st. Bank of America lifted their target price on Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Citigroup lifted their target price on Arista Networks from $385.00 to $460.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, The Goldman Sachs Group lifted their target price 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 analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Arista Networks has an average rating of “Moderate Buy” and a consensus target price of $369.50.

Insider Transactions at Arista Networks

In related news, CEO Jayshree Ullal sold 832 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $318.12, for a total transaction of $264,675.84. Following the completion of the transaction, the chief executive officer now owns 17,681 shares in the company, valued at $5,624,679.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Jayshree Ullal sold 832 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $318.12, for a total transaction of $264,675.84. Following the completion of the transaction, the chief executive officer now owns 17,681 shares in the company, valued at $5,624,679.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $394.69, for a total value of $7,893,800.00. Following the transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at approximately $1,280,374.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,197 shares of company stock worth $21,326,894. 3.54% of the stock is currently owned by company insiders.

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.