Focused Wealth Management Inc Invests $72,000 in Arista Networks Inc (NYSE:ANET)

Focused Wealth Management Inc bought a new position in shares of Arista Networks Inc (NYSE:ANET) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 300 shares of the technology company’s stock, valued at approximately $72,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Valeo Financial Advisors LLC grew its stake in Arista Networks by 24.2% during the 2nd quarter. Valeo Financial Advisors LLC now owns 190 shares of the technology company’s stock worth $49,000 after buying an additional 37 shares during the last quarter. Cim LLC grew its stake in Arista Networks by 2.9% during the 3rd quarter. Cim LLC now owns 2,375 shares of the technology company’s stock worth $567,000 after buying an additional 68 shares during the last quarter. Wealthcare Advisory Partners LLC grew its stake in Arista Networks by 24.2% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 369 shares of the technology company’s stock worth $88,000 after buying an additional 72 shares during the last quarter. Wetherby Asset Management Inc. grew its stake in Arista Networks by 0.5% during the 2nd quarter. Wetherby Asset Management Inc. now owns 16,331 shares of the technology company’s stock worth $4,240,000 after buying an additional 77 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC grew its stake in Arista Networks by 5.9% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 1,445 shares of the technology company’s stock worth $375,000 after buying an additional 80 shares during the last quarter. 59.05% of the stock is currently owned by institutional investors and hedge funds.

Shares of ANET stock traded down $2.36 during midday trading on Wednesday, hitting $191.61. The company had a trading volume of 35,681 shares, compared to its average volume of 910,877. The company’s 50 day simple moving average is $227.60 and its 200 day simple moving average is $247.27. Arista Networks Inc has a 52-week low of $173.31 and a 52-week high of $331.27. The stock has a market cap of $14.72 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 1.47 and a beta of 1.60. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.91 and a quick ratio of 5.47.

Arista Networks (NYSE:ANET) last announced its earnings results on Thursday, October 31st. The technology company reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.50. Arista Networks had a return on equity of 28.94% and a net margin of 32.68%. The company had revenue of $654.40 million for the quarter, compared to the consensus estimate of $653.26 million. During the same period last year, the business posted $2.11 EPS. The company’s revenue was up 16.2% on a year-over-year basis. Analysts anticipate that Arista Networks Inc will post 8.54 EPS for the current year.

In related news, Director Nikos Theodosopoulos sold 1,360 shares of Arista Networks stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $225.31, for a total value of $306,421.60. Following the sale, the director now directly owns 4,630 shares in the company, valued at $1,043,185.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Kenneth Duda sold 10,876 shares of Arista Networks stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $226.89, for a total value of $2,467,655.64. Following the completion of the sale, the senior vice president now owns 2,979 shares in the company, valued at $675,905.31. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,110 shares of company stock worth $6,614,810. Company insiders own 23.83% of the company’s stock.

A number of research analysts recently issued reports on the company. Morgan Stanley dropped their price target on Arista Networks from $275.00 to $195.00 and set a “weight” rating on the stock in a research note on Friday, November 1st. Credit Suisse Group downgraded Arista Networks from an “outperform” rating to a “neutral” rating and set a $144.00 price target on the stock. in a research note on Friday, November 1st. Barclays set a $210.00 price target on Arista Networks and gave the stock a “buy” rating in a research note on Friday, November 1st. Zacks Investment Research downgraded Arista Networks from a “buy” rating to a “hold” rating and set a $246.00 price target on the stock. in a research note on Tuesday, October 15th. Finally, Citigroup upgraded Arista Networks to a “buy” rating and dropped their price target for the stock from $315.00 to $225.00 in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and ten have given a buy rating to the stock. Arista Networks presently has an average rating of “Hold” and an average price target of $229.72.

About Arista Networks

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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