F M Investments LLC Sells 40 Shares of Arista Networks, Inc. (NYSE:ANET)

F M Investments LLC lowered its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,405 shares of the technology company’s stock after selling 40 shares during the quarter. F M Investments LLC’s holdings in Arista Networks were worth $331,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC increased its holdings in Arista Networks by 6.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,427 shares of the technology company’s stock valued at $441,000 after buying an additional 153 shares during the period. Arkadios Wealth Advisors increased its holdings in Arista Networks by 7.5% in the 3rd quarter. Arkadios Wealth Advisors now owns 1,474 shares of the technology company’s stock valued at $271,000 after buying an additional 103 shares during the period. Global Retirement Partners LLC grew its holdings in shares of Arista Networks by 203.3% in the 3rd quarter. Global Retirement Partners LLC now owns 2,290 shares of the technology company’s stock worth $426,000 after purchasing an additional 1,535 shares during the last quarter. HB Wealth Management LLC grew its holdings in shares of Arista Networks by 22.1% in the 3rd quarter. HB Wealth Management LLC now owns 3,362 shares of the technology company’s stock worth $618,000 after purchasing an additional 609 shares during the last quarter. Finally, Montecito Bank & Trust bought a new stake in shares of Arista Networks in the 3rd quarter worth about $234,000. Institutional investors own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In other news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total transaction of $5,801,000.00. Following the completion of the sale, the senior vice president now owns 3,244 shares of the company’s stock, valued at $940,922.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total value of $5,801,000.00. Following the transaction, the senior vice president now owns 3,244 shares in the company, valued at $940,922.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jayshree Ullal sold 87,418 shares of Arista Networks stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $278.81, for a total value of $24,373,012.58. Following the completion of the transaction, the chief executive officer now owns 17,681 shares in the company, valued at approximately $4,929,639.61. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 334,227 shares of company stock valued at $95,828,875. 18.99% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ANET. The Goldman Sachs Group upped their target price on shares of Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. KeyCorp upped their price target on shares of Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a research report on Thursday, January 18th. Melius upgraded shares of Arista Networks from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Oppenheimer reiterated a “market perform” rating on shares of Arista Networks in a research report on Tuesday, February 13th. Finally, Melius Research upgraded shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $275.59.

Arista Networks Stock Up 2.4 %

Shares of NYSE ANET traded up $5.81 during trading hours on Tuesday, hitting $251.28. The company had a trading volume of 2,297,441 shares, compared to its average volume of 2,467,584. The stock has a market capitalization of $78.56 billion, a P/E ratio of 38.25, a price-to-earnings-growth ratio of 2.10 and a beta of 1.09. Arista Networks, Inc. has a 1-year low of $131.68 and a 1-year high of $307.74. The firm’s 50 day moving average is $279.29 and its 200-day moving average is $246.19.

Arista Networks (NYSE:ANET) last announced its quarterly 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. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the firm posted $1.25 EPS. The company’s quarterly revenue was up 20.8% on a year-over-year basis. On average, sell-side analysts predict 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.