2,055 Shares in Arista Networks, Inc. (NYSE:ANET) Acquired by Net Worth Advisory Group

Net Worth Advisory Group acquired a new stake in Arista Networks, Inc. (NYSE:ANET) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,055 shares of the technology company’s stock, valued at approximately $789,000.

Several other institutional investors have also modified their holdings of the company. Inspire Advisors LLC increased its holdings in Arista Networks by 318.2% in the third quarter. Inspire Advisors LLC now owns 10,811 shares of the technology company’s stock valued at $4,149,000 after buying an additional 8,226 shares during the last quarter. Trust Point Inc. increased its holdings in shares of Arista Networks by 5.1% in the 3rd quarter. Trust Point Inc. now owns 2,053 shares of the technology company’s stock valued at $788,000 after acquiring an additional 100 shares during the last quarter. Aaron Wealth Advisors LLC raised its position in shares of Arista Networks by 31.2% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 1,942 shares of the technology company’s stock worth $745,000 after acquiring an additional 462 shares in the last quarter. Claro Advisors LLC boosted its holdings in Arista Networks by 81.5% in the third quarter. Claro Advisors LLC now owns 1,069 shares of the technology company’s stock valued at $410,000 after purchasing an additional 480 shares in the last quarter. Finally, Onyx Bridge Wealth Group LLC boosted its holdings in Arista Networks by 10.8% in the third quarter. Onyx Bridge Wealth Group LLC now owns 675 shares of the technology company’s stock valued at $259,000 after purchasing an additional 66 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ANET shares. Morgan Stanley upped their price objective on shares of Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. Citigroup raised their price target on Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. KeyCorp boosted their price objective on Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Evercore ISI raised their target price on shares of Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, Jefferies Financial Group upped their price target on shares of Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $369.50.

Arista Networks Stock Down 1.3 %

Shares of NYSE:ANET opened at $402.00 on Friday. The business has a fifty day simple moving average of $367.25 and a 200-day simple moving average of $331.31. Arista Networks, Inc. has a 52 week low of $168.25 and a 52 week high of $422.73. The company has a market cap of $125.97 billion, a P/E ratio of 55.99, a P/E/G ratio of 3.21 and a beta of 1.07.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.66 billion. During the same period last year, the company earned $1.41 earnings per share. The company’s quarterly revenue was up 15.9% on a year-over-year basis. Sell-side analysts expect that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $342.28, for a total value of $684,560.00. Following the transaction, the director now owns 50,946 shares in the company, valued at approximately $17,437,796.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $342.28, for a total transaction of $684,560.00. Following the transaction, the director now owns 50,946 shares in the company, valued at $17,437,796.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jayshree Ullal sold 832 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $318.12, for a total value of $264,675.84. Following the completion of the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $5,624,679.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,197 shares of company stock worth $21,326,894 over the last three months. 3.54% of the stock is owned by insiders.

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.