Ossiam Sells 275 Shares of Arista Networks, Inc. (NYSE:ANET)

Ossiam trimmed its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 3.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,399 shares of the technology company’s stock after selling 275 shares during the quarter. Ossiam’s holdings in Arista Networks were worth $3,195,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in ANET. Kistler Tiffany Companies LLC boosted its position in Arista Networks by 40.3% during the second quarter. Kistler Tiffany Companies LLC now owns 108 shares of the technology company’s stock worth $39,000 after purchasing an additional 31 shares during the period. CX Institutional boosted its position in Arista Networks by 37.9% during the second quarter. CX Institutional now owns 142 shares of the technology company’s stock worth $51,000 after purchasing an additional 39 shares during the period. CSat Investment Advisory L.P. boosted its position in Arista Networks by 37.4% during the first quarter. CSat Investment Advisory L.P. now owns 191 shares of the technology company’s stock worth $58,000 after purchasing an additional 52 shares during the period. Berman Capital Advisors LLC boosted its position in Arista Networks by 110.3% during the second quarter. Berman Capital Advisors LLC now owns 183 shares of the technology company’s stock worth $66,000 after purchasing an additional 96 shares during the period. Finally, Wagner Wealth Management LLC bought a new position in Arista Networks during the first quarter worth $72,000. 61.51% of the stock is owned by hedge funds and other institutional investors.

In other Arista Networks news, CEO Jayshree Ullal sold 2,375 shares of the stock in a transaction that occurred on Monday, August 2nd. The stock was sold at an average price of $378.05, for a total transaction of $897,868.75. Following the transaction, the chief executive officer now directly owns 992 shares in the company, valued at approximately $375,025.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Marc Taxay sold 501 shares of the company’s stock in a transaction that occurred on Friday, October 1st. The stock was sold at an average price of $345.00, for a total value of $172,845.00. The disclosure for this sale can be found here. Insiders sold 217,414 shares of company stock worth $80,215,418 over the last quarter. 22.01% of the stock is currently owned by company insiders.

A number of equities research analysts have recently issued reports on ANET shares. Cowen boosted their target price on shares of Arista Networks from $385.00 to $433.00 and gave the company an “outperform” rating in a research report on Tuesday, August 3rd. Morgan Stanley boosted their target price on shares of Arista Networks from $345.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, July 6th. Barclays boosted their price target on Arista Networks from $330.00 to $378.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 3rd. Argus boosted their price target on Arista Networks from $360.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, August 4th. Finally, MKM Partners boosted their price target on Arista Networks from $363.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, August 3rd. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Arista Networks presently has a consensus rating of “Buy” and an average target price of $381.33.

Shares of NYSE:ANET traded up $4.85 during midday trading on Thursday, hitting $388.74. 568 shares of the stock were exchanged, compared to its average volume of 476,005. The stock has a market capitalization of $29.82 billion, a price-to-earnings ratio of 41.86, a P/E/G ratio of 3.02 and a beta of 1.15. The business’s 50-day moving average price is $363.11 and its 200 day moving average price is $350.17. Arista Networks, Inc. has a 12 month low of $200.35 and a 12 month high of $384.27.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Sunday, August 1st. The technology company reported $2.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.54 by $0.18. The company had revenue of $707.30 million for the quarter, compared to analysts’ expectations of $688.89 million. Arista Networks had a return on equity of 20.92% and a net margin of 27.72%. The business’s quarterly revenue was up 30.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.11 earnings per share. Research analysts forecast that Arista Networks, Inc. will post 9.04 earnings per share for the current fiscal year.

Arista Networks Profile

Arista Networks, Inc engages in the development, marketing, and sale of cloud networking solutions. Its cloud networking solutions consist of Extensible Operating System(EOS) a set of network applications and Ethernet switching, and routing platforms. The company was founded by Andreas Bechtolsheim, David Cheriton, and Kenneth Duda in October 2004 and is headquartered in Santa Clara, CA.

Further Reading: Stocks Increasing Dividends

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

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