Private Advisory Group LLC Boosts Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Private Advisory Group LLC lifted its stake in Arista Networks, Inc. (NYSE:ANET) by 27.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,055 shares of the technology company’s stock after buying an additional 658 shares during the period. Private Advisory Group LLC’s holdings in Arista Networks were worth $1,172,000 at the end of the most recent quarter.

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

Insider Activity

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction on Monday, October 7th. The shares were sold at an average price of $394.69, for a total value of $7,893,800.00. Following the sale, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $1,280,374.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $342.28, for a total transaction of $684,560.00. Following the sale, the director now directly owns 50,946 shares of the company’s stock, valued at $17,437,796.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $394.69, for a total value of $7,893,800.00. Following the completion of the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $1,280,374.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,197 shares of company stock worth $21,326,894 over the last quarter. Insiders own 3.54% of the company’s stock.

Arista Networks Trading Up 0.7 %

NYSE ANET opened at $409.85 on Friday. The stock has a market cap of $128.75 billion, a price-to-earnings ratio of 53.16, a PEG ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a 12 month low of $168.25 and a 12 month high of $410.71. The company’s 50 day moving average is $355.96 and its two-hundred day moving average is $326.09.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates 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 business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the firm earned $1.41 earnings per share. Sell-side analysts forecast that Arista Networks, Inc. will post 7.38 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Citigroup increased their price objective on Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday. Barclays lifted their price target on Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Piper Sandler increased their price objective on shares of Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Jefferies Financial Group upped their target price on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, KeyCorp raised their price target on shares of Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $369.50.

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.