B. Riley Wealth Advisors Inc. Has $2.39 Million Stake in Arista Networks, Inc. (NYSE:ANET)

B. Riley Wealth Advisors Inc. lowered its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 28.5% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 6,807 shares of the technology company’s stock after selling 2,717 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Arista Networks were worth $2,386,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ANET. UniSuper Management Pty Ltd lifted its position in shares of Arista Networks by 20.3% in the 1st quarter. UniSuper Management Pty Ltd now owns 36,329 shares of the technology company’s stock worth $10,535,000 after acquiring an additional 6,133 shares during the period. Central Pacific Bank Trust Division bought a new position in Arista Networks in the first quarter worth $1,405,000. M&G Plc acquired a new stake in Arista Networks during the first quarter worth $3,238,000. Nordea Investment Management AB increased its holdings in Arista Networks by 32.5% in the 1st quarter. Nordea Investment Management AB now owns 26,799 shares of the technology company’s stock valued at $7,810,000 after buying an additional 6,578 shares during the period. Finally, Cim LLC acquired a new position in shares of Arista Networks in the 4th quarter valued at $2,589,000. Institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ANET shares. Erste Group Bank reiterated a “buy” rating on shares of Arista Networks in a research report on Friday, June 14th. Rosenblatt Securities upped their price objective on Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a research note on Wednesday, July 31st. Morgan Stanley raised their target price on Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. Barclays upped their price target on Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Citigroup lifted their price objective on Arista Networks from $330.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $364.81.

Arista Networks Stock Performance

NYSE:ANET opened at $381.72 on Wednesday. The company has a market cap of $119.62 billion, a price-to-earnings ratio of 53.16, a P/E/G ratio of 3.04 and a beta of 1.07. The stock’s fifty day moving average price is $347.22 and its two-hundred day moving average price is $322.12. Arista Networks, Inc. has a 52-week low of $168.25 and a 52-week high of $395.82.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.38. The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.41 earnings per share. On average, equities analysts predict that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

Insider Transactions at Arista Networks

In related news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $342.28, for a total value of $684,560.00. Following the transaction, the director now directly owns 50,946 shares in the company, valued at $17,437,796.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $342.28, for a total transaction of $684,560.00. Following the completion of the sale, the director now owns 50,946 shares in the company, valued at approximately $17,437,796.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $370.70, for a total value of $7,414,000.00. Following the completion of the transaction, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $1,202,550.80. The disclosure for this sale can be found here. Insiders sold a total of 54,157 shares of company stock worth $19,291,193 in the last quarter. 3.54% of the stock is owned by company insiders.

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.