Fermata Advisors LLC Buys 112 Shares of Arista Networks, Inc. (NYSE:ANET)

Fermata Advisors LLC grew its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 11.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,070 shares of the technology company’s stock after buying an additional 112 shares during the period. Fermata Advisors LLC’s holdings in Arista Networks were worth $411,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ANET. Benjamin Edwards Inc. bought a new position in shares of Arista Networks in the first quarter worth approximately $26,000. Beacon Capital Management LLC grew its position in Arista Networks by 500.0% during the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after acquiring an additional 65 shares during the last quarter. LGT Financial Advisors LLC bought a new position in Arista Networks during the second quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. grew its position in Arista Networks by 872.7% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after acquiring an additional 96 shares during the last quarter. Finally, Byrne Asset Management LLC bought a new position in Arista Networks during the second quarter valued at approximately $33,000. 82.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Evercore ISI increased their price target on shares of Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Bank of America increased their price target on shares of Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Rosenblatt Securities increased their price objective on Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a research note on Wednesday, July 31st. Jefferies Financial Group increased their price objective on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley increased their price objective on Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $369.50.

Arista Networks Stock Up 1.8 %

Shares of ANET stock opened at $416.97 on Friday. The stock has a fifty day moving average of $359.35 and a 200 day moving average of $327.45. Arista Networks, Inc. has a 52 week low of $168.25 and a 52 week high of $417.71. The firm has a market capitalization of $130.99 billion, a price-to-earnings ratio of 54.08, a PEG ratio of 3.21 and a beta of 1.07.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.41 earnings per share. Equities research analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Marc Taxay sold 628 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was 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 Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction dated Monday, October 7th. The stock was 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 in the company, valued at approximately $1,280,374.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Marc Taxay sold 628 shares of Arista Networks stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $350.50, for a total value of $220,114.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,197 shares of company stock worth $21,326,894. 3.54% of the stock is owned by corporate insiders.

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.