Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Legacy Financial Strategies LLC

Legacy Financial Strategies LLC lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 6.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 880 shares of the technology company’s stock after buying an additional 52 shares during the quarter. Legacy Financial Strategies LLC’s holdings in Arista Networks were worth $338,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP increased its position in Arista Networks by 1.2% during the 4th quarter. Wellington Management Group LLP now owns 525,976 shares of the technology company’s stock worth $123,873,000 after purchasing an additional 6,402 shares in the last quarter. SageView Advisory Group LLC acquired a new position in shares of Arista Networks in the 4th quarter valued at about $235,000. NBC Securities Inc. lifted its stake in shares of Arista Networks by 21.5% in the 1st quarter. NBC Securities Inc. now owns 215 shares of the technology company’s stock valued at $62,000 after purchasing an additional 38 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in Arista Networks by 13.9% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 524 shares of the technology company’s stock worth $152,000 after acquiring an additional 64 shares in the last quarter. Finally, Alaska Permanent Fund Corp acquired a new position in Arista Networks during the 1st quarter worth approximately $37,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Trading Down 1.3 %

NYSE ANET traded down $5.39 during trading on Friday, reaching $402.00. 1,539,535 shares of the company’s stock were exchanged, compared to its average volume of 2,238,767. Arista Networks, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $422.73. The company’s fifty day simple moving average is $367.25 and its 200-day simple moving average is $331.31. The firm has a market capitalization of $125.97 billion, a PE ratio of 55.99, a P/E/G ratio of 3.21 and a beta of 1.07.

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 return on equity of 30.50% and a net margin of 39.01%. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period last year, the business earned $1.41 EPS. The firm’s revenue was up 15.9% compared to the same quarter last year. Equities analysts forecast that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the sale, the senior vice president now owns 3,244 shares of the company’s stock, valued at approximately $1,280,374.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the sale, the senior vice president now owns 3,244 shares of the company’s stock, valued at approximately $1,280,374.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jayshree Ullal sold 836 shares of Arista Networks stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $386.68, for a total value of $323,264.48. Following the sale, the chief executive officer now directly owns 17,681 shares in the company, valued at $6,836,889.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,197 shares of company stock valued at $21,326,894 in the last 90 days. 3.54% of the stock is currently owned by insiders.

Analyst Ratings Changes

ANET has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Morgan Stanley boosted their price target on Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Barclays boosted their price target on Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. UBS Group boosted their price target on Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Finally, Citigroup boosted their price target on Arista Networks from $385.00 to $460.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $369.50.

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.