E Fund Management Hong Kong Co. Ltd. Purchases Shares of 436 Arista Networks, Inc. (NYSE:ANET)

E Fund Management Hong Kong Co. Ltd. purchased a new stake in Arista Networks, Inc. (NYSE:ANET) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 436 shares of the technology company’s stock, valued at approximately $167,000.

Several other large investors have also recently bought and sold shares of ANET. Financial Advocates Investment Management increased its holdings in shares of Arista Networks by 5.5% during the third quarter. Financial Advocates Investment Management now owns 799 shares of the technology company’s stock worth $307,000 after purchasing an additional 42 shares during the period. First Trust Direct Indexing L.P. increased its holdings in shares of Arista Networks by 4.6% during the third quarter. First Trust Direct Indexing L.P. now owns 6,766 shares of the technology company’s stock worth $2,597,000 after purchasing an additional 300 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in shares of Arista Networks by 3,483.0% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 28,198 shares of the technology company’s stock worth $11,158,000 after purchasing an additional 27,411 shares during the period. Mutual Advisors LLC increased its holdings in shares of Arista Networks by 13.1% during the third quarter. Mutual Advisors LLC now owns 5,154 shares of the technology company’s stock worth $2,039,000 after purchasing an additional 595 shares during the period. Finally, Childress Capital Advisors LLC increased its holdings in shares of Arista Networks by 13.6% during the third quarter. Childress Capital Advisors LLC now owns 983 shares of the technology company’s stock worth $377,000 after purchasing an additional 118 shares during the period. 82.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Jayshree Ullal sold 832 shares of Arista Networks stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $318.12, for a total transaction of $264,675.84. Following the completion of the transaction, the chief executive officer now owns 17,681 shares of the company’s stock, valued at $5,624,679.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Jayshree Ullal sold 832 shares of Arista Networks stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $318.12, for a total transaction of $264,675.84. Following the completion of the transaction, the chief executive officer now owns 17,681 shares of the company’s stock, valued at $5,624,679.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kenneth Duda sold 1,592 shares of Arista Networks stock in a transaction on Monday, August 26th. The stock was sold at an average price of $349.55, for a total transaction of $556,483.60. Following the transaction, the senior vice president now directly owns 186,600 shares of the company’s stock, valued at $65,226,030. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,354 shares of company stock valued at $20,364,014 over the last quarter. Insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

Shares of NYSE:ANET opened at $395.98 on Thursday. The firm has a market cap of $124.09 billion, a PE ratio of 55.15, a price-to-earnings-growth ratio of 3.21 and a beta of 1.07. The firm’s fifty day moving average is $374.66 and its 200-day moving average is $337.48. Arista Networks, Inc. has a 52 week low of $187.68 and a 52 week high of $422.73.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, topping 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 company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the previous year, the business earned $1.41 earnings per share. Arista Networks’s revenue was up 15.9% compared to the same quarter last year. Sell-side analysts forecast that Arista Networks, Inc. will post 7.38 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on ANET. Wells Fargo & Company raised their target price on shares of Arista Networks from $390.00 to $460.00 and gave the stock an “overweight” rating in a report on Wednesday. Piper Sandler lifted their price objective on shares of Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Rosenblatt Securities lifted their price objective on shares of Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a research note on Wednesday, July 31st. Barclays lifted their price objective on shares of Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $375.00 price objective on shares of Arista Networks in a research note on Wednesday, July 31st. One research 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $373.88.

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.