100 Shares in Arista Networks, Inc. (NYSE:ANET) Purchased by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. purchased a new position in Arista Networks, Inc. (NYSE:ANET) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 100 shares of the technology company’s stock, valued at approximately $35,000.

A number of other institutional investors also recently bought and sold shares of ANET. Old Port Advisors grew its holdings in Arista Networks by 3.5% in the first quarter. Old Port Advisors now owns 955 shares of the technology company’s stock worth $277,000 after purchasing an additional 32 shares during the period. NBC Securities Inc. grew its holdings in Arista Networks by 21.5% in the first quarter. NBC Securities Inc. now owns 215 shares of the technology company’s stock worth $62,000 after purchasing an additional 38 shares during the period. Sandy Spring Bank grew its holdings in Arista Networks by 33.6% in the fourth quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock worth $37,000 after purchasing an additional 39 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Arista Networks by 6.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 694 shares of the technology company’s stock worth $163,000 after purchasing an additional 39 shares during the period. Finally, Fulton Breakefield Broenniman LLC grew its holdings in Arista Networks by 1.8% in the fourth quarter. Fulton Breakefield Broenniman LLC now owns 2,255 shares of the technology company’s stock worth $531,000 after purchasing an additional 40 shares during the period. 82.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ANET has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price objective on shares of Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Bank of America upped their price objective on shares of Arista Networks from $320.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. UBS Group upped their price objective on shares of Arista Networks from $275.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. Rosenblatt Securities increased their price target on shares of Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $375.00 price target on shares of Arista Networks in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $353.38.

Insiders Place Their Bets

In other Arista Networks news, SVP Marc Taxay sold 628 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $350.50, for a total value of $220,114.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Marc Taxay sold 628 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $350.50, for a total transaction of $220,114.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jayshree Ullal sold 20,000 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $312.07, for a total transaction of $6,241,400.00. Following the sale, the chief executive officer now owns 1,620,800 shares in the company, valued at $505,803,056. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 207,976 shares of company stock worth $68,669,935. Company insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

Arista Networks stock traded up $8.42 during midday trading on Tuesday, reaching $323.35. 1,648,244 shares of the company traded hands, compared to its average volume of 2,494,650. The firm has a market capitalization of $101.58 billion, a price-to-earnings ratio of 45.03, a price-to-earnings-growth ratio of 2.70 and a beta of 1.11. The business has a 50 day moving average of $332.33 and a two-hundred day moving average of $298.72. Arista Networks, Inc. has a 12 month low of $168.25 and a 12 month high of $376.50.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.38. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the firm earned $1.41 earnings per share. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, equities analysts forecast that Arista Networks, Inc. will post 7.29 EPS for the current year.

Arista Networks announced that its Board of Directors has approved a stock buyback plan on Tuesday, May 7th that permits the company to buyback $1.20 billion in outstanding shares. This buyback authorization permits the technology company to repurchase up to 1.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Arista Networks 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.