Arista Networks, Inc. (NYSE:ANET) Shares Sold by Redhawk Wealth Advisors Inc.

Redhawk Wealth Advisors Inc. decreased its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 3.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,140 shares of the technology company’s stock after selling 186 shares during the period. Redhawk Wealth Advisors Inc.’s holdings in Arista Networks were worth $1,973,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in ANET. GQG Partners LLC purchased a new position in shares of Arista Networks during the 1st quarter worth $881,848,000. Swedbank AB purchased a new position in Arista Networks during the first quarter worth about $521,767,000. Ameriprise Financial Inc. boosted its stake in Arista Networks by 97.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock worth $628,966,000 after buying an additional 884,703 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in Arista Networks by 4,160.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 515,700 shares of the technology company’s stock valued at $180,743,000 after buying an additional 503,597 shares during the period. Finally, Global Assets Advisory LLC acquired a new position in shares of Arista Networks during the 1st quarter valued at about $102,480,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ANET has been the topic of a number of recent research reports. Rosenblatt Securities lifted their price target on shares of Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price target on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Bank of America boosted their price objective on Arista Networks from $320.00 to $380.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Jefferies Financial Group increased their target price on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company boosted their price target on Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $369.50.

Arista Networks Stock Up 1.7 %

Shares of Arista Networks stock opened at $416.93 on Monday. The business has a fifty day simple moving average of $359.35 and a 200-day simple moving average of $327.93. The firm has a market cap of $130.65 billion, a price-to-earnings ratio of 58.07, a price-to-earnings-growth ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $417.71.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the previous year, the firm posted $1.41 EPS. The company’s quarterly revenue was up 15.9% on a year-over-year basis. Analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Marc Taxay sold 628 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $350.50, for a total value of $220,114.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Arista Networks news, SVP Marc Taxay sold 628 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $350.50, for a total value of $220,114.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jayshree Ullal sold 832 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $318.12, for a total transaction of $264,675.84. Following the transaction, the chief executive officer now owns 17,681 shares in the company, valued at approximately $5,624,679.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,197 shares of company stock worth $21,326,894. Corporate insiders own 3.54% of the company’s stock.

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.