Segment Wealth Management LLC Purchases 332 Shares of Arista Networks, Inc. (NYSE:ANET)

Segment Wealth Management LLC boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 5.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,006 shares of the technology company’s stock after acquiring an additional 332 shares during the period. Segment Wealth Management LLC’s holdings in Arista Networks were worth $2,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. First Affirmative Financial Network raised its position in shares of Arista Networks by 4.3% in the 3rd quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock worth $262,000 after acquiring an additional 28 shares in the last quarter. FCG Investment Co raised its holdings in 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 purchasing an additional 29 shares in the last quarter. Everpar Advisors LLC lifted its position in shares of Arista Networks by 1.5% during the third quarter. Everpar Advisors LLC now owns 1,907 shares of the technology company’s stock valued at $732,000 after buying an additional 29 shares during the last quarter. Foundations Investment Advisors LLC lifted its position in shares of Arista Networks by 5.0% during the third quarter. Foundations Investment Advisors LLC now owns 653 shares of the technology company’s stock valued at $251,000 after buying an additional 31 shares during the last quarter. Finally, Old Port Advisors boosted its holdings in shares of Arista Networks by 3.5% in the 1st quarter. Old Port Advisors now owns 955 shares of the technology company’s stock valued at $277,000 after buying an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Activity at Arista Networks

In related news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $394.69, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the transaction, the senior vice president now owns 3,244 shares in the company, valued at approximately $1,280,374.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $342.28, for a total value of $684,560.00. Following the completion of the sale, the director now owns 50,946 shares of the company’s stock, valued at $17,437,796.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,197 shares of company stock worth $21,326,894 in the last three months. Company insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on ANET. Rosenblatt Securities boosted their price objective on shares of Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research note on Wednesday, July 31st. Barclays raised their price objective on Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. UBS Group upped their target price on Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. The Goldman Sachs Group boosted their price target on Arista Networks from $390.00 to $430.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Finally, Piper Sandler increased their price objective on shares of Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and an average price target of $369.50.

Arista Networks Stock Performance

Shares of ANET opened at $396.62 on Wednesday. The company has a market capitalization of $124.29 billion, a P/E ratio of 55.24, a P/E/G ratio of 3.21 and a beta of 1.07. The business’s 50-day moving average is $369.61 and its two-hundred day moving average is $333.34. Arista Networks, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $422.73.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results 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 company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period last year, the business earned $1.41 earnings per share. Arista Networks’s quarterly revenue was up 15.9% on a year-over-year basis. Analysts forecast that Arista Networks, Inc. will post 7.38 EPS for the current year.

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.