Broadleaf Partners LLC Decreases Stake in Arista Networks, Inc. $ANET

Broadleaf Partners LLC decreased its holdings in Arista Networks, Inc. (NYSE:ANET) by 3.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 96,772 shares of the technology company’s stock after selling 3,911 shares during the quarter. Arista Networks comprises approximately 2.2% of Broadleaf Partners LLC’s portfolio, making the stock its 18th biggest holding. Broadleaf Partners LLC’s holdings in Arista Networks were worth $9,901,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Bare Financial Services Inc increased its holdings 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 purchasing an additional 233 shares in the last quarter. REAP Financial Group LLC increased its holdings 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 buying an additional 175 shares in the last quarter. Solstein Capital LLC increased its holdings in Arista Networks by 493.8% in the second quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock valued at $39,000 after buying an additional 316 shares in the last quarter. Saudi Central Bank acquired a new stake in shares of Arista Networks during the 1st quarter valued at approximately $33,000. Finally, Hemington Wealth Management boosted its stake in shares of Arista Networks by 28.2% during the 2nd quarter. Hemington Wealth Management now owns 459 shares of the technology company’s stock worth $46,000 after acquiring an additional 101 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Trading Up 0.3%

Shares of ANET stock opened at $129.00 on Tuesday. The firm has a 50-day moving average price of $140.23 and a 200 day moving average price of $125.84. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94. The company has a market capitalization of $162.44 billion, a price-to-earnings ratio of 49.05, a PEG ratio of 2.47 and a beta of 1.41.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ANET shares. JPMorgan Chase & Co. lifted their price objective on Arista Networks from $150.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. William Blair restated an “outperform” rating on shares of Arista Networks in a research report on Friday, September 12th. Evercore ISI boosted their price objective on shares of Arista Networks from $150.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, September 12th. Weiss Ratings upgraded shares of Arista Networks from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 1st. Finally, Wolfe Research lifted their target price on shares of Arista Networks from $160.00 to $185.00 and gave the stock an “outperform” rating in a research report on Friday, September 12th. Eighteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.31.

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 stock was sold at an average price of $142.75, for a total transaction of $4,282,500.00. Following the transaction, the insider owned 12,976 shares of the company’s stock, valued at $1,852,324. This represents a 69.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Charles H. Giancarlo sold 58,000 shares of the firm’s stock in a transaction on Friday, September 19th. The stock was sold at an average price of $148.42, for a total value of $8,608,360.00. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 1,522,152 shares of company stock worth $223,569,587. Insiders own 3.54% of the company’s stock.

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.