Retirement Guys Formula LLC Raises Stake in Arista Networks, Inc. (NYSE:ANET)

Retirement Guys Formula LLC grew its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 5.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,088 shares of the technology company’s stock after purchasing an additional 216 shares during the period. Retirement Guys Formula LLC’s holdings in Arista Networks were worth $1,569,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Beacon Capital Management LLC boosted its position in shares of Arista Networks by 500.0% in the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after buying an additional 65 shares in the last quarter. LGT Financial Advisors LLC purchased a new stake in shares of Arista Networks in the 2nd quarter worth about $27,000. Financial Synergies Wealth Advisors Inc. boosted its position in shares of Arista Networks by 872.7% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after buying an additional 96 shares in the last quarter. Byrne Asset Management LLC purchased a new stake in shares of Arista Networks in the 2nd quarter worth about $33,000. Finally, Sugarloaf Wealth Management LLC purchased a new stake in shares of Arista Networks in the 2nd quarter worth about $35,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Kenneth Duda sold 20,000 shares of the 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 completion of the transaction, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $1,280,374.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Kenneth Duda sold 20,000 shares of the 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 completion of the transaction, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $1,280,374.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $220,114.00. The disclosure for this sale can be found here. In the last three months, insiders sold 58,197 shares of company stock worth $21,326,894. 3.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ANET. Wells Fargo & Company upped their target price on shares of Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Citigroup upped their target price on shares of Arista Networks from $385.00 to $460.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. UBS Group upped their target price on shares of Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Barclays upped their target price on shares of Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, KeyCorp upped their target price on shares of Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, three have assigned 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 Price Performance

NYSE ANET traded up $5.86 on Monday, reaching $407.86. The company had a trading volume of 552,398 shares, compared to its average volume of 2,230,462. The firm has a market capitalization of $127.81 billion, a PE ratio of 55.99, a P/E/G ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a 1 year low of $168.25 and a 1 year high of $422.73. The firm has a 50-day moving average of $367.25 and a 200-day moving average of $331.82.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, beating the consensus estimate of $1.72 by $0.38. The company had revenue of $1.69 billion during 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 revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.41 EPS. As a group, sell-side analysts expect that Arista Networks, Inc. will post 7.38 EPS for the current fiscal 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.