180 Wealth Advisors LLC decreased its position in shares of Arista Networks, Inc. (NYSE:ANET – Free Report) by 22.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 3,402 shares of the technology company’s stock after selling 957 shares during the quarter. 180 Wealth Advisors LLC’s holdings in Arista Networks were worth $544,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of ANET. Avantax Advisory Services Inc. raised its holdings in Arista Networks by 2.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 2,801 shares of the technology company’s stock valued at $470,000 after buying an additional 71 shares during the period. Argent Trust Co increased its stake in Arista Networks by 3.8% during the first quarter. Argent Trust Co now owns 2,045 shares of the technology company’s stock worth $343,000 after purchasing an additional 75 shares during the period. ETF Managers Group LLC increased its stake in Arista Networks by 1.5% during the first quarter. ETF Managers Group LLC now owns 5,193 shares of the technology company’s stock worth $872,000 after purchasing an additional 77 shares during the period. Alaethes Wealth LLC increased its stake in Arista Networks by 0.5% during the first quarter. Alaethes Wealth LLC now owns 14,715 shares of the technology company’s stock worth $2,470,000 after purchasing an additional 80 shares during the period. Finally, Louisiana State Employees Retirement System increased its stake in Arista Networks by 0.6% during the first quarter. Louisiana State Employees Retirement System now owns 16,100 shares of the technology company’s stock worth $2,703,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 67.13% of the company’s stock.
Insider Transactions at Arista Networks
In other Arista Networks news, SVP Marc Taxay sold 1,040 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $161.34, for a total value of $167,793.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider John F. Mccool sold 996 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $161.34, for a total value of $160,694.64. Following the completion of the transaction, the insider now owns 72 shares in the company, valued at $11,616.48. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Marc Taxay sold 1,040 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $161.34, for a total value of $167,793.60. The disclosure for this sale can be found here. Insiders sold 143,212 shares of company stock worth $26,086,688 over the last 90 days. 18.99% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Arista Networks Price Performance
Arista Networks stock opened at $186.02 on Tuesday. Arista Networks, Inc. has a 12 month low of $98.20 and a 12 month high of $198.70. The business has a 50 day simple moving average of $179.32 and a 200-day simple moving average of $163.97. The stock has a market capitalization of $57.59 billion, a PE ratio of 34.38, a price-to-earnings-growth ratio of 1.82 and a beta of 1.17.
Arista Networks (NYSE:ANET – Get Free Report) last released its quarterly earnings results on Monday, July 31st. The technology company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.29 by $0.29. Arista Networks had a return on equity of 31.19% and a net margin of 32.48%. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the prior year, the business earned $0.98 earnings per share. The company’s quarterly revenue was up 38.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Arista Networks, Inc. will post 5.49 EPS for the current year.
Arista Networks Company Profile
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.
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