Milestone Asset Management LLC Sells 2,933 Shares of Arista Networks, Inc. $ANET

by · The Markets Daily

Milestone Asset Management LLC reduced its stake in Arista Networks, Inc. (NYSE:ANET – Free Report) by 16.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,037 shares of the technology company’s stock after selling 2,933 shares during the quarter. Milestone Asset Management LLC’s holdings in Arista Networks were worth $1,538,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ANET. Brighton Jones LLC boosted its holdings in Arista Networks by 321.7% during the fourth quarter. Brighton Jones LLC now owns 7,806 shares of the technology company’s stock worth $863,000 after purchasing an additional 5,955 shares during the last quarter. Revolve Wealth Partners LLC purchased a new stake in Arista Networks during the fourth quarter valued at about $202,000. Bison Wealth LLC purchased a new position in Arista Networks in the 4th quarter worth $251,000. D.A. Davidson & CO. increased its stake in shares of Arista Networks by 2.9% in the first quarter. D.A. Davidson & CO. now owns 20,451 shares of the technology company’s stock worth $1,585,000 after buying an additional 569 shares during the period. Finally, Truist Financial Corp lifted its stake in shares of Arista Networks by 46.5% in the 1st quarter. Truist Financial Corp now owns 605,262 shares of the technology company’s stock valued at $46,896,000 after purchasing an additional 192,108 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ANET has been the subject of several research reports. Wolfe Research upped their price target on shares of Arista Networks from $160.00 to $185.00 and gave the company an “outperform” rating in a research report on Friday, September 12th. The Goldman Sachs Group lifted their target price on Arista Networks from $155.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Citigroup lifted their price objective on shares of Arista Networks from $136.00 to $176.00 and gave the company a “buy” rating in a report on Friday, September 12th. Melius Research upped their price objective on shares of Arista Networks from $160.00 to $185.00 and gave the company a “buy” rating in a report on Friday, September 12th. Finally, UBS Group increased their price objective on shares of Arista Networks from $115.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Nineteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and an average price target of $163.94.

Check Out Our Latest Stock Analysis on ANET

Insider Buying and Selling at Arista Networks

In other Arista Networks news, insider Kenneth Duda sold 30,000 shares of the stock in a transaction on Friday, October 17th. The shares were sold at an average price of $142.75, for a total transaction of $4,282,500.00. Following the sale, the insider directly owned 12,976 shares of the company’s stock, valued at approximately $1,852,324. This represents a 69.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jayshree Ullal sold 1,247,688 shares of the business’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $148.53, for a total transaction of $185,319,098.64. Following the completion of the sale, the chief executive officer owned 5,383,207 shares in the company, valued at approximately $799,567,735.71. This trade represents a 18.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 4,325,040 shares of company stock worth $611,632,257 in the last 90 days. 3.39% of the stock is owned by corporate insiders.

Arista Networks Trading Down 0.1%

Shares of ANET opened at $157.49 on Tuesday. The firm has a market cap of $197.95 billion, a PE ratio of 61.94, a price-to-earnings-growth ratio of 3.37 and a beta of 1.47. The company’s 50 day simple moving average is $146.21 and its 200-day simple moving average is $118.11. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $164.94.

Arista Networks (NYSE:ANET – Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The technology company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.65 by $0.08. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.11 billion. Arista Networks had a net margin of 40.90% and a return on equity of 31.05%. The business’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.53 EPS. As a group, equities research analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Arista Networks Profile

(Free Report)

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.

See Also

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