Hennion & Walsh Asset Management Inc. Has $6.97 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Hennion & Walsh Asset Management Inc. lowered its stake in Arista Networks, Inc. (NYSE:ANET) by 12.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,150 shares of the technology company’s stock after selling 2,615 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Arista Networks were worth $6,966,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. GQG Partners LLC bought a new position in shares of Arista Networks during the first quarter valued at $881,848,000. Legal & General Group Plc raised its position in Arista Networks by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 2,195,733 shares of the technology company’s stock worth $769,560,000 after purchasing an additional 20,278 shares during the last quarter. Swedbank AB acquired a new position in Arista Networks during the 1st quarter worth about $521,767,000. Ameriprise Financial Inc. increased its stake in shares of Arista Networks by 97.2% in the second quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock valued at $628,966,000 after buying an additional 884,703 shares during the period. Finally, TD Asset Management Inc raised its position in shares of Arista Networks by 18.7% during the first quarter. TD Asset Management Inc now owns 943,694 shares of the technology company’s stock worth $273,652,000 after acquiring an additional 148,759 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Barclays increased their target price on shares of Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group lifted their target price on shares of Arista Networks from $390.00 to $430.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Wells Fargo & Company increased their price target on Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Morgan Stanley lifted their price objective on Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. Finally, Evercore ISI raised their target price on Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. One equities research 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 presently has an average rating of “Moderate Buy” and a consensus price target of $369.50.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $394.00 on Thursday. The stock has a fifty day moving average price of $370.52 and a 200-day moving average price of $333.77. The firm has a market cap of $123.47 billion, a PE ratio of 54.87, a P/E/G ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a 1 year low of $168.25 and a 1 year high of $422.73.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.66 billion. During the same period in the prior year, the company earned $1.41 earnings per share. Arista Networks’s revenue was up 15.9% compared to the same quarter last year. As a group, equities analysts anticipate that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

Insider Activity at Arista Networks

In related news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $394.69, for a total value of $7,893,800.00. Following the sale, the senior vice president now owns 3,244 shares in the company, valued at approximately $1,280,374.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Arista Networks news, SVP Marc Taxay sold 628 shares of the business’s stock in a transaction 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 through this link. Also, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $1,280,374.36. This trade represents a 0.00 % decrease in their position. 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. 3.54% of the stock is owned by company insiders.

About Arista Networks

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.