Arista Networks, Inc. (ANET) Shares Sold by Prentiss Smith & Co. Inc.

Prentiss Smith & Co. Inc. decreased its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 2.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 57,009 shares of the technology company’s stock after selling 1,286 shares during the period. Arista Networks makes up about 4.5% of Prentiss Smith & Co. Inc.’s holdings, making the stock its 7th largest position. Prentiss Smith & Co. Inc.’s holdings in Arista Networks were worth $8,539,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in ANET. First Personal Financial Services boosted its position in shares of Arista Networks by 3.3% in the first quarter. First Personal Financial Services now owns 1,984 shares of the technology company’s stock worth $262,000 after buying an additional 63 shares in the last quarter. Profund Advisors LLC boosted its position in shares of Arista Networks by 1.7% in the first quarter. Profund Advisors LLC now owns 12,569 shares of the technology company’s stock worth $1,663,000 after buying an additional 209 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Arista Networks by 16.5% in the first quarter. IFP Advisors Inc now owns 1,697 shares of the technology company’s stock worth $224,000 after buying an additional 240 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Arista Networks by 2.6% in the first quarter. Stifel Financial Corp now owns 10,170 shares of the technology company’s stock worth $1,349,000 after buying an additional 256 shares in the last quarter. Finally, Blair William & Co. IL boosted its position in shares of Arista Networks by 6.0% in the first quarter. Blair William & Co. IL now owns 5,176 shares of the technology company’s stock worth $678,000 after buying an additional 291 shares in the last quarter. Hedge funds and other institutional investors own 60.68% of the company’s stock.

Shares of Arista Networks, Inc. (NYSE:ANET) traded up 0.48% during mid-day trading on Monday, hitting $149.49. 451,993 shares of the company were exchanged. Arista Networks, Inc. has a 12-month low of $66.06 and a 12-month high of $162.97. The firm has a 50 day moving average of $150.63 and a 200 day moving average of $124.48. The company has a market capitalization of $10.76 billion, a price-to-earnings ratio of 48.28 and a beta of 1.35.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Thursday, May 4th. The technology company reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.09. Arista Networks had a return on equity of 20.94% and a net margin of 18.95%. The firm had revenue of $335.48 million for the quarter, compared to analyst estimates of $326.19 million. During the same period in the previous year, the firm earned $0.68 earnings per share. The company’s revenue was up 38.5% compared to the same quarter last year. Equities research analysts forecast that Arista Networks, Inc. will post $3.96 earnings per share for the current year.

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A number of equities analysts have recently issued reports on ANET shares. Gabelli restated a “buy” rating on shares of Arista Networks in a research note on Sunday, April 2nd. CIBC restated a “buy” rating and issued a $160.00 price objective on shares of Arista Networks in a research note on Friday, May 5th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $142.00 price objective (up previously from $120.00) on shares of Arista Networks in a research note on Friday, March 17th. Stifel Nicolaus cut shares of Arista Networks from a “buy” rating to a “hold” rating and increased their price objective for the company from $130.00 to $135.00 in a research note on Monday, April 3rd. They noted that the move was a valuation call. Finally, Cowen and Company increased their price objective on shares of Arista Networks from $123.00 to $145.00 and gave the company an “outperform” rating in a research note on Monday, May 15th. Fifteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Arista Networks presently has an average rating of “Buy” and an average price target of $136.34.

In other Arista Networks news, SVP Marc Taxay sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $139.51, for a total value of $279,020.00. Following the transaction, the senior vice president now directly owns 10,650 shares of the company’s stock, valued at $1,485,781.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Kenneth Duda sold 10,507 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $144.23, for a total value of $1,515,424.61. Following the completion of the transaction, the senior vice president now directly owns 811 shares in the company, valued at $116,970.53. The disclosure for this sale can be found here. Over the last three months, insiders sold 604,116 shares of company stock worth $91,431,795. Insiders own 28.09% of the company’s stock.

About Arista Networks

Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.

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

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