Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Great Lakes Retirement Inc.

Great Lakes Retirement Inc. raised its stake in Arista Networks, Inc. (NYSE:ANET) by 2.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,262 shares of the technology company’s stock after purchasing an additional 303 shares during the quarter. Great Lakes Retirement Inc.’s holdings in Arista Networks were worth $4,323,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in ANET. Beacon Capital Management LLC raised its holdings in Arista Networks by 500.0% in the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after buying an additional 65 shares during the period. LGT Financial Advisors LLC purchased a new position in shares of Arista Networks in the 2nd quarter valued at $27,000. Byrne Asset Management LLC acquired a new position in shares of Arista Networks during the 2nd quarter valued at $33,000. Sugarloaf Wealth Management LLC purchased a new stake in Arista Networks during the 2nd quarter worth $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Arista Networks in the 2nd quarter valued at $35,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ANET shares. Citigroup upped their target price on Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group increased their price objective on shares of Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. UBS Group boosted their target price on shares of Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $375.00 price target on shares of Arista Networks in a report on Wednesday, July 31st. Finally, Jefferies Financial Group boosted their price objective on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $369.50.

Arista Networks Stock Down 0.6 %

ANET opened at $394.00 on Thursday. The company’s 50-day moving average price is $370.52 and its 200 day moving average price is $333.77. Arista Networks, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $422.73. The firm has a market cap of $123.47 billion, a price-to-earnings ratio of 54.87, a price-to-earnings-growth ratio of 3.21 and a beta of 1.07.

Arista Networks (NYSE:ANET) last announced its quarterly 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 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 quarter last year, the business posted $1.41 EPS. The business’s revenue was up 15.9% on a year-over-year basis. Research analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Insider Buying and Selling

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were 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 of the company’s stock, valued at $1,280,374.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Arista Networks news, CEO Jayshree Ullal sold 17,752 shares of Arista Networks stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $354.29, for a total transaction of $6,289,356.08. Following the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at $6,264,201.49. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $394.69, for a total value of $7,893,800.00. Following the completion of the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $1,280,374.36. The trade was a 0.00 % decrease in their position. 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 quarter. Company insiders own 3.54% of the company’s stock.

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.