Arista Networks, Inc. (NYSE:ANET) Shares Purchased by nVerses Capital LLC

nVerses Capital LLC increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 10.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,100 shares of the technology company’s stock after acquiring an additional 200 shares during the quarter. nVerses Capital LLC’s holdings in Arista Networks were worth $806,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in ANET. Benjamin Edwards Inc. purchased a new stake in Arista Networks during the 1st quarter worth $26,000. Beacon Capital Management LLC increased its stake in Arista Networks by 500.0% during 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 during the period. LGT Financial Advisors LLC purchased a new stake in Arista Networks during the 2nd quarter worth $27,000. Financial Synergies Wealth Advisors Inc. increased its stake in Arista Networks by 872.7% during 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 during the period. Finally, Byrne Asset Management LLC bought a new stake in shares of Arista Networks in the 2nd quarter worth about $33,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ANET. KeyCorp boosted their price objective on shares of Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. UBS Group upped their price target on shares of Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Rosenblatt Securities upped their price target on shares of Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research note on Wednesday, July 31st. Jefferies Financial Group upped their price target on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. upped their price target on shares of Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. One investment 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $369.50.

Insiders Place Their Bets

In other news, Director Kelly Bodnar Battles sold 216 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $324.02, for a total value of $69,988.32. Following the transaction, the director now owns 2,726 shares of the company’s stock, valued at approximately $883,278.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $394.69, for a total value of $7,893,800.00. Following the sale, the senior vice president now directly owns 3,244 shares in the company, valued at $1,280,374.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kelly Bodnar Battles sold 216 shares of Arista Networks stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $324.02, for a total transaction of $69,988.32. Following the completion of the sale, the director now owns 2,726 shares in the company, valued at $883,278.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 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.

Arista Networks Stock Up 1.6 %

Arista Networks stock traded up $6.67 during mid-day trading on Thursday, reaching $412.75. The company had a trading volume of 547,117 shares, compared to its average volume of 2,238,090. Arista Networks, Inc. has a 52 week low of $168.25 and a 52 week high of $422.73. The company has a 50 day moving average of $364.47 and a 200-day moving average of $330.06. The firm has a market cap of $129.34 billion, a price-to-earnings ratio of 57.36, a PEG 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 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 firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the firm earned $1.41 EPS. The company’s revenue was up 15.9% on a year-over-year basis. On average, analysts predict that Arista Networks, Inc. will post 7.38 earnings per share 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.