Raymond James Financial Services Advisors Inc. Sells 2,104 Shares of Arista Networks, Inc. (NYSE:ANET)

Raymond James Financial Services Advisors Inc. trimmed its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 4.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,904 shares of the technology company’s stock after selling 2,104 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Arista Networks were worth $12,731,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Arista Networks by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock valued at $6,946,338,000 after buying an additional 1,596,040 shares during the last quarter. FMR LLC boosted its position in Arista Networks by 32.2% during the third quarter. FMR LLC now owns 10,318,633 shares of the technology company’s stock worth $1,897,906,000 after purchasing an additional 2,515,864 shares during the period. Capital World Investors lifted its position in shares of Arista Networks by 0.5% during the fourth quarter. Capital World Investors now owns 10,136,348 shares of the technology company’s stock worth $2,387,211,000 after acquiring an additional 55,312 shares in the last quarter. WCM Investment Management LLC lifted its position in shares of Arista Networks by 0.5% during the fourth quarter. WCM Investment Management LLC now owns 3,024,220 shares of the technology company’s stock worth $716,649,000 after acquiring an additional 16,081 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Arista Networks in the fourth quarter worth $586,051,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Arista Networks

In related news, CEO Jayshree Ullal sold 22,000 shares of Arista Networks stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $303.00, for a total transaction of $6,666,000.00. Following the transaction, the chief executive officer now owns 1,665,300 shares in the company, valued at approximately $504,585,900. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Arista Networks news, CEO Jayshree Ullal sold 22,000 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $303.00, for a total value of $6,666,000.00. Following the sale, the chief executive officer now owns 1,665,300 shares in the company, valued at approximately $504,585,900. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $284.31, for a total transaction of $5,686,200.00. Following the completion of the sale, the senior vice president now owns 3,244 shares in the company, valued at approximately $922,301.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 335,974 shares of company stock worth $96,252,685. 18.99% of the stock is owned by corporate insiders.

Arista Networks Stock Performance

Shares of ANET stock traded up $12.54 during mid-day trading on Friday, reaching $274.40. 2,883,651 shares of the company’s stock traded hands, compared to its average volume of 2,426,995. Arista Networks, Inc. has a 12 month low of $131.68 and a 12 month high of $307.74. The firm has a 50 day moving average price of $279.07 and a two-hundred day moving average price of $249.25. The firm has a market capitalization of $85.79 billion, a PE ratio of 41.77, a price-to-earnings-growth ratio of 2.24 and a beta of 1.13.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the firm posted $1.25 EPS. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. As a group, equities analysts expect that Arista Networks, Inc. will post 6.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ANET shares. Rosenblatt Securities reissued a “sell” rating and issued a $210.00 target price on shares of Arista Networks in a research note on Friday, April 12th. JMP Securities reaffirmed a “market outperform” rating and set a $325.00 price objective on shares of Arista Networks in a research note on Tuesday, February 13th. Needham & Company LLC reiterated a “buy” rating and set a $320.00 target price on shares of Arista Networks in a report on Tuesday, February 13th. Wells Fargo & Company increased their target price on shares of Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Finally, The Goldman Sachs Group increased their target price on shares of Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $285.53.

Arista Networks Company Profile

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.