Marcus Capital LLC Sells 5,175 Shares of Arista Networks, Inc. (ANET)

Marcus Capital LLC decreased its position in Arista Networks, Inc. (NYSE:ANET) by 23.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,325 shares of the technology company’s stock after selling 5,175 shares during the period. Arista Networks makes up 2.2% of Marcus Capital LLC’s portfolio, making the stock its 21st largest position. Marcus Capital LLC’s holdings in Arista Networks were worth $2,595,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in ANET. BlackRock Inc. lifted its position in Arista Networks by 34,238.9% in the 1st quarter. BlackRock Inc. now owns 1,684,322 shares of the technology company’s stock valued at $222,784,000 after acquiring an additional 1,679,417 shares in the last quarter. Harbour Capital Advisors LLC lifted its position in Arista Networks by 13,502.2% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,228,278 shares of the technology company’s stock valued at $8,200,000 after acquiring an additional 1,219,248 shares in the last quarter. FMR LLC lifted its position in Arista Networks by 32.2% in the 1st quarter. FMR LLC now owns 3,288,755 shares of the technology company’s stock valued at $435,004,000 after acquiring an additional 800,465 shares in the last quarter. Vanguard Group Inc. lifted its position in Arista Networks by 12.8% in the 1st quarter. Vanguard Group Inc. now owns 3,514,246 shares of the technology company’s stock valued at $464,830,000 after acquiring an additional 399,688 shares in the last quarter. Finally, Ardevora Asset Management LLP bought a new stake in Arista Networks in the 2nd quarter valued at $36,384,000. 59.40% of the stock is owned by institutional investors.

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In other news, SVP Marc Taxay sold 2,000 shares of Arista Networks stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $148.52, for a total value of $297,040.00. Following the completion of the transaction, the senior vice president now owns 11,775 shares in the company, valued at $1,748,823. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ita M. Brennan sold 3,500 shares of Arista Networks stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $176.12, for a total transaction of $616,420.00. Following the completion of the transaction, the insider now owns 16,903 shares of the company’s stock, valued at approximately $2,976,956.36. The disclosure for this sale can be found here. Insiders sold 634,332 shares of company stock valued at $106,156,949 in the last quarter. Corporate insiders own 28.09% of the company’s stock.

Shares of Arista Networks, Inc. (NYSE:ANET) traded up 1.15% on Friday, hitting $176.96. 1,380,477 shares of the company’s stock were exchanged. Arista Networks, Inc. has a 12 month low of $78.82 and a 12 month high of $179.71. The firm has a market cap of $12.83 billion, a P/E ratio of 45.67 and a beta of 1.30. The stock’s 50 day moving average is $169.27 and its 200 day moving average is $148.96.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.95 by $0.15. The business had revenue of $405.21 million for the quarter, compared to analyst estimates of $361.02 million. Arista Networks had a net margin of 21.74% and a return on equity of 22.64%. The company’s revenue for the quarter was up 50.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 earnings per share. On average, equities analysts predict that Arista Networks, Inc. will post $4.70 earnings per share for the current year.

Several research firms recently commented on ANET. UBS AG boosted their price objective on shares of Arista Networks from $120.00 to $150.00 and gave the company a “neutral” rating in a research report on Wednesday, May 31st. William Blair raised shares of Arista Networks from a “market perform” rating to an “outperform” rating in a research report on Friday, August 4th. DA Davidson cut shares of Arista Networks from a “buy” rating to a “neutral” rating and set a $153.00 price target on the stock. in a research report on Monday, May 22nd. Barclays PLC boosted their price target on shares of Arista Networks from $161.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, June 15th. Finally, Wells Fargo & Company reissued an “outperform” rating on shares of Arista Networks in a research report on Tuesday, July 4th. Sixteen investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Arista Networks has an average rating of “Buy” and a consensus target price of $155.29.

Arista Networks Profile

Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.

Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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