Fox Hill Wealth Management Has $2.97 Million Stake in Arista Networks, Inc. (NYSE:ANET)

Fox Hill Wealth Management trimmed its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 1.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 8,481 shares of the technology company’s stock after selling 110 shares during the period. Arista Networks comprises about 1.8% of Fox Hill Wealth Management’s portfolio, making the stock its 14th biggest holding. Fox Hill Wealth Management’s holdings in Arista Networks were worth $2,972,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ANET. Benjamin Edwards Inc. acquired a new stake in shares of Arista Networks in the first quarter valued at about $26,000. Beacon Capital Management LLC lifted its stake in shares of Arista Networks by 500.0% in the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after buying an additional 65 shares during the period. LGT Financial Advisors LLC bought a new stake in shares of Arista Networks in the second quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. lifted its stake in shares of Arista Networks by 872.7% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after buying an additional 96 shares during the period. Finally, Byrne Asset Management LLC bought a new stake in shares of Arista Networks in the second quarter valued at about $33,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Jayshree Ullal sold 832 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $318.12, for a total value of $264,675.84. Following the completion of the transaction, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at approximately $5,624,679.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $325.88, for a total transaction of $6,517,600.00. Following the completion of the transaction, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $1,057,154.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jayshree Ullal sold 832 shares of the stock in a transaction dated Friday, August 2nd. The stock was 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 of the company’s stock, valued at $5,624,679.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 126,300 shares of company stock valued at $44,194,544. Company insiders own 3.54% of the company’s stock.

Arista Networks Stock Down 4.3 %

Shares of NYSE ANET opened at $314.31 on Monday. The company’s fifty day moving average is $343.09 and its 200-day moving average is $311.43. The stock has a market cap of $98.74 billion, a price-to-earnings ratio of 43.78, a P/E/G ratio of 2.48 and a beta of 1.07. Arista Networks, Inc. has a twelve month low of $168.25 and a twelve month high of $376.50.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, beating the consensus estimate of $1.72 by $0.38. The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.41 EPS. On average, research analysts anticipate that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Citigroup increased their target price on shares of Arista Networks from $330.00 to $385.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Jefferies Financial Group raised their price target on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Evercore ISI lifted their target price on shares of Arista Networks from $340.00 to $400.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Rosenblatt Securities lifted their target price on shares of Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a research note on Wednesday, July 31st. Finally, Erste Group Bank reissued a “buy” rating on shares of Arista Networks in a report on Friday, June 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and an average target price of $358.63.

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.