Blair William & Co. IL Increases Stock Position in Arista Networks, Inc. (NYSE:ANET)

Blair William & Co. IL boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 3.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 216,042 shares of the technology company’s stock after buying an additional 7,922 shares during the period. Blair William & Co. IL owned approximately 0.07% of Arista Networks worth $75,718,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. UniSuper Management Pty Ltd grew its position in shares of Arista Networks by 20.3% in the first quarter. UniSuper Management Pty Ltd now owns 36,329 shares of the technology company’s stock valued at $10,535,000 after purchasing an additional 6,133 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Arista Networks by 7.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 51,301 shares of the technology company’s stock valued at $12,082,000 after buying an additional 3,763 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Arista Networks during the first quarter valued at about $1,405,000. M&G Plc purchased a new stake in shares of Arista Networks in the first quarter worth about $3,238,000. Finally, Nordea Investment Management AB lifted its holdings in shares of 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 buying an additional 6,578 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Analyst Ratings Changes

ANET has been the subject of several recent analyst reports. Evercore ISI reaffirmed an “outperform” rating and set a $400.00 price objective on shares of Arista Networks in a research note on Friday, September 13th. Piper Sandler upped their price target on shares of Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Citigroup lifted their price objective on Arista Networks from $330.00 to $385.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Morgan Stanley upped their target price on Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. Finally, Rosenblatt Securities upped their price objective on Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and an average target price of $358.63.

Insider Activity at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 25,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $347.00, for a total value of $8,675,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,600,800 shares in the company, valued at $555,477,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $352.93, for a total value of $705,860.00. Following the completion of the transaction, the director now directly owns 52,946 shares in the company, valued at approximately $18,686,231.78. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jayshree Ullal sold 25,000 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $347.00, for a total transaction of $8,675,000.00. Following the sale, the chief executive officer now directly owns 1,600,800 shares in the company, valued at approximately $555,477,600. The disclosure for this sale can be found here. Insiders have sold 106,989 shares of company stock worth $37,891,416 over the last 90 days. 3.54% of the stock is owned by company insiders.

Arista Networks Stock Performance

NYSE ANET opened at $360.97 on Wednesday. The stock has a market cap of $113.11 billion, a P/E ratio of 50.27, a price-to-earnings-growth ratio of 2.70 and a beta of 1.07. The stock has a 50 day simple moving average of $340.74 and a two-hundred day simple moving average of $315.02. Arista Networks, Inc. has a fifty-two week low of $168.25 and a fifty-two week 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 (EPS) 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 business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the firm earned $1.41 EPS. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. Sell-side analysts predict that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

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.