Arista Networks, Inc. (NYSE:ANET) Position Raised by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd raised its stake in Arista Networks, Inc. (NYSE:ANET) by 24.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 29,449 shares of the technology company’s stock after buying an additional 5,708 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Arista Networks were worth $11,180,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. raised its stake in shares of Arista Networks by 352.3% during the first quarter. Sunbelt Securities Inc. now owns 294 shares of the technology company’s stock valued at $85,000 after purchasing an additional 229 shares in the last quarter. Brookstone Capital Management raised its stake in shares of Arista Networks by 44.7% during the first quarter. Brookstone Capital Management now owns 11,742 shares of the technology company’s stock valued at $3,405,000 after purchasing an additional 3,626 shares in the last quarter. Wealthcare Advisory Partners LLC raised its stake in shares of Arista Networks by 10.6% during the first quarter. Wealthcare Advisory Partners LLC now owns 1,535 shares of the technology company’s stock valued at $445,000 after purchasing an additional 147 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Arista Networks by 143.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 41,947 shares of the technology company’s stock valued at $12,164,000 after purchasing an additional 24,744 shares in the last quarter. Finally, Fox Hill Wealth Management raised its stake in shares of Arista Networks by 0.6% during the first quarter. Fox Hill Wealth Management now owns 8,591 shares of the technology company’s stock valued at $2,491,000 after purchasing an additional 49 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Arista Networks

In other news, Director Kelly Bodnar Battles sold 373 shares of Arista Networks stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $396.48, for a total transaction of $147,887.04. Following the completion of the sale, the director now directly owns 2,192 shares in the company, valued at $869,084.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Kelly Bodnar Battles sold 373 shares of Arista Networks stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $396.48, for a total transaction of $147,887.04. Following the completion of the sale, the director now directly owns 2,192 shares in the company, valued at $869,084.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jayshree Ullal sold 832 shares of Arista Networks 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 sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $5,624,679.72. This 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 58,570 shares of company stock valued at $21,474,782 in the last 90 days. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks Price Performance

NYSE:ANET opened at $394.04 on Friday. Arista Networks, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $422.73. The stock’s 50-day moving average is $371.30 and its two-hundred day moving average is $334.19. The stock has a market cap of $123.48 billion, a PE ratio of 54.88, a price-to-earnings-growth 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 for the quarter, beating 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 company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the business posted $1.41 EPS. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, equities research analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Barclays boosted their price target on shares of Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Wells Fargo & Company boosted their price target on shares of Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Piper Sandler boosted their price target on shares of Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. JPMorgan Chase & Co. boosted their price target on shares of Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Citigroup boosted their price target on shares of Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. One equities research 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 presently has an average rating of “Moderate Buy” and a consensus target price of $369.50.

About Arista Networks

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.