Braun Stacey Associates Inc. Has $17.07 Million Stock Position in Arista Networks, Inc. $ANET

Braun Stacey Associates Inc. lowered its position in Arista Networks, Inc. (NYSE:ANET) by 4.7% during the third quarter, HoldingsChannel.com reports. The firm owned 117,136 shares of the technology company’s stock after selling 5,747 shares during the quarter. Braun Stacey Associates Inc.’s holdings in Arista Networks were worth $17,068,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ANET. Bare Financial Services Inc grew its stake in shares of Arista Networks by 2,118.2% in the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock valued at $25,000 after buying an additional 233 shares in the last quarter. AdvisorNet Financial Inc lifted its stake in Arista Networks by 56.7% in the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after acquiring an additional 72 shares during the last quarter. REAP Financial Group LLC lifted its stake in Arista Networks by 108.0% in the second quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock valued at $34,000 after acquiring an additional 175 shares during the last quarter. eCIO Inc. bought a new stake in Arista Networks in the first quarter worth approximately $36,000. Finally, Solstein Capital LLC increased its stake in shares of Arista Networks by 493.8% during the 2nd quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock worth $39,000 after purchasing an additional 316 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $157.12, for a total value of $1,256,960.00. Following the sale, the director directly owned 33,784 shares in the company, valued at $5,308,142.08. This trade represents a 19.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kenneth Duda sold 30,000 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $123.16, for a total transaction of $3,694,800.00. Following the transaction, the insider directly owned 12,976 shares of the company’s stock, valued at $1,598,124.16. This represents a 69.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 208,464 shares of company stock worth $27,418,668. 3.39% of the stock is owned by insiders.

Arista Networks Stock Performance

NYSE ANET opened at $130.97 on Friday. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94. The stock has a market capitalization of $164.93 billion, a PE ratio of 49.80, a P/E/G ratio of 2.51 and a beta of 1.41. The stock has a 50-day simple moving average of $133.75 and a 200 day simple moving average of $130.00.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.72 by $0.03. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the previous year, the business posted $2.40 EPS. The company’s revenue for the quarter was up 27.5% on a year-over-year basis. As a group, equities research analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Needham & Company LLC lifted their price objective on shares of Arista Networks from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. BNP Paribas raised Arista Networks from a “hold” rating to an “outperform” rating in a research report on Thursday, September 25th. Wells Fargo & Company increased their price objective on Arista Networks from $150.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, September 12th. Rosenblatt Securities reissued a “neutral” rating and issued a $140.00 price objective on shares of Arista Networks in a research note on Monday, November 24th. Finally, Morgan Stanley decreased their target price on Arista Networks from $171.00 to $159.00 and set an “overweight” rating for the company in a research report on Wednesday, December 17th. Seventeen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $163.56.

About Arista Networks

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.