L & S Advisors Inc Purchases 50 Shares of Arista Networks, Inc. (NYSE:ANET)

L & S Advisors Inc lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 0.8% during the second quarter, Holdings Channel.com reports. The institutional investor owned 6,358 shares of the technology company’s stock after acquiring an additional 50 shares during the quarter. L & S Advisors Inc’s holdings in Arista Networks were worth $2,228,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Axxcess Wealth Management LLC grew its holdings in Arista Networks by 3.9% during the 2nd quarter. Axxcess Wealth Management LLC now owns 10,293 shares of the technology company’s stock worth $3,607,000 after acquiring an additional 382 shares in the last quarter. Peregrine Asset Advisers Inc. grew its stake in Arista Networks by 41.4% in the second quarter. Peregrine Asset Advisers Inc. now owns 1,555 shares of the technology company’s stock valued at $545,000 after purchasing an additional 455 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Arista Networks by 99.9% in the 2nd quarter. Renaissance Technologies LLC now owns 268,889 shares of the technology company’s stock valued at $94,240,000 after buying an additional 134,389 shares in the last quarter. Citizens Financial Group Inc. RI bought a new position in shares of Arista Networks during the 2nd quarter worth approximately $612,000. Finally, Quantbot Technologies LP increased its position in shares of Arista Networks by 100.5% during the second quarter. Quantbot Technologies LP now owns 19,369 shares of the technology company’s stock worth $6,788,000 after purchasing an additional 9,711 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Performance

Shares of Arista Networks stock opened at $359.16 on Tuesday. Arista Networks, Inc. has a 1 year low of $168.25 and a 1 year high of $376.50. The company’s fifty day moving average is $340.84 and its two-hundred day moving average is $314.50. The company has a market capitalization of $112.55 billion, a P/E ratio of 50.02, a PEG ratio of 2.70 and a beta of 1.07.

Arista Networks (NYSE:ANET) last issued 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 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 the consensus estimate of $1.66 billion. During the same quarter in the previous year, the firm earned $1.41 earnings per share. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. As a group, equities analysts expect that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Insider Buying and Selling at Arista Networks

In other news, SVP Kenneth Duda sold 1,689 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $321.28, for a total value of $542,641.92. Following the completion of the transaction, the senior vice president now owns 182,600 shares in the company, valued at approximately $58,665,728. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Kenneth Duda sold 1,689 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $321.28, for a total value of $542,641.92. Following the completion of the transaction, the senior vice president now owns 182,600 shares in the company, valued at $58,665,728. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jayshree Ullal sold 25,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $357.00, for a total transaction of $8,925,000.00. Following the completion of the sale, the chief executive officer now owns 1,595,800 shares in the company, valued at $569,700,600. The disclosure for this sale can be found here. Over the last quarter, insiders sold 106,989 shares of company stock valued at $37,891,416. 3.54% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Rosenblatt Securities increased their price objective 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. Evercore ISI reiterated an “outperform” rating and issued a $400.00 target price on shares of Arista Networks in a research note on Friday. Bank of America raised their price target on shares of Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Morgan Stanley upped their price objective on shares of Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. Finally, UBS Group raised their target price on Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and an average price target of $358.63.

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.