Arista Networks, Inc. (NYSE:ANET) Stake Increased by Aaron Wealth Advisors LLC

Aaron Wealth Advisors LLC increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 31.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,942 shares of the technology company’s stock after buying an additional 462 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Arista Networks were worth $745,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. GQG Partners LLC purchased a new position in Arista Networks in the first quarter valued at about $881,848,000. Swedbank AB acquired a new position in Arista Networks in the first quarter worth approximately $521,767,000. Ameriprise Financial Inc. increased its holdings in Arista Networks by 97.2% in the second quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock worth $628,966,000 after buying an additional 884,703 shares during the last quarter. 1832 Asset Management L.P. lifted its stake in Arista Networks by 4,160.9% in the second quarter. 1832 Asset Management L.P. now owns 515,700 shares of the technology company’s stock valued at $180,743,000 after acquiring an additional 503,597 shares during the last quarter. Finally, Global Assets Advisory LLC bought a new stake in Arista Networks in the first quarter worth approximately $102,480,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Price Performance

Shares of ANET traded down $3.61 on Friday, reaching $403.78. 398,555 shares of the stock traded hands, compared to its average volume of 2,232,879. The stock’s 50-day moving average price is $365.93 and its 200-day moving average price is $330.60. The firm has a market cap of $126.53 billion, a price-to-earnings ratio of 56.11, a P/E/G ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a 12 month low of $168.25 and a 12 month high of $422.73.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the prior year, the company posted $1.41 EPS. The business’s revenue was up 15.9% on a year-over-year basis. As a group, equities research analysts forecast that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Kenneth Duda sold 20,000 shares of the business’s 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 sale, the senior vice president now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Kelly Bodnar Battles sold 216 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $324.02, for a total value of $69,988.32. Following the transaction, the director now directly owns 2,726 shares of the company’s stock, valued at $883,278.52. 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 through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $1,280,374.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,197 shares of company stock worth $21,326,894. Company insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

ANET has been the topic of a number of recent research reports. Rosenblatt Securities raised their price target on shares of Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Morgan Stanley boosted their price target on Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. increased their price objective on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. The Goldman Sachs Group boosted their target price on Arista Networks from $390.00 to $430.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Finally, Piper Sandler increased their price target on Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $369.50.

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.