Ethic Inc. raised its position in Arista Networks, Inc. (NYSE:ANET) by 73.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,361 shares of the technology company’s stock after purchasing an additional 578 shares during the quarter. Ethic Inc.’s holdings in Arista Networks were worth $493,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the business. Parkside Financial Bank & Trust increased its stake in Arista Networks by 187.8% during the 1st quarter. Parkside Financial Bank & Trust now owns 118 shares of the technology company’s stock worth $36,000 after buying an additional 77 shares during the period. Kistler Tiffany Companies LLC grew its position in shares of Arista Networks by 40.3% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 108 shares of the technology company’s stock valued at $39,000 after buying an additional 31 shares during the last quarter. Allred Capital Management LLC acquired a new stake in Arista Networks during the 1st quarter worth $45,000. CX Institutional boosted its stake in Arista Networks by 37.9% during the 2nd quarter. CX Institutional now owns 142 shares of the technology company’s stock worth $51,000 after purchasing an additional 39 shares during the period. Finally, CSat Investment Advisory L.P. boosted its stake in Arista Networks by 37.4% during the 1st quarter. CSat Investment Advisory L.P. now owns 191 shares of the technology company’s stock worth $58,000 after purchasing an additional 52 shares during the period. Institutional investors own 61.51% of the company’s stock.
In other news, Director Ann Mather sold 220 shares of the business’s stock in a transaction on Friday, August 20th. The stock was sold at an average price of $367.26, for a total transaction of $80,797.20. Following the completion of the transaction, the director now owns 806 shares of the company’s stock, valued at approximately $296,011.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Kenneth Duda sold 10,000 shares of the company’s stock in a transaction dated Friday, September 10th. The stock was sold at an average price of $355.27, for a total value of $3,552,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 222,880 shares of company stock worth $82,218,335 in the last ninety days. Insiders own 22.01% of the company’s stock.
Arista Networks (NYSE:ANET) last released its quarterly earnings data on Sunday, August 1st. The technology company reported $2.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.54 by $0.18. Arista Networks had a return on equity of 20.92% and a net margin of 27.72%. The business had revenue of $707.30 million for the quarter, compared to analysts’ expectations of $688.89 million. During the same quarter in the previous year, the business posted $2.11 EPS. Arista Networks’s revenue for the quarter was up 30.8% on a year-over-year basis. Equities analysts expect that Arista Networks, Inc. will post 9.04 earnings per share for the current fiscal year.
Several analysts have recently commented on ANET shares. Argus raised their target price on shares of Arista Networks from $360.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, August 4th. KeyCorp raised their target price on shares of Arista Networks from $424.00 to $430.00 and gave the company an “overweight” rating in a report on Tuesday, August 3rd. Credit Suisse Group lifted their price target on shares of Arista Networks from $362.00 to $410.00 and gave the stock an “outperform” rating in a report on Tuesday, August 3rd. Morgan Stanley raised their target price on shares of Arista Networks from $345.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 6th. Finally, Barclays raised their target price on shares of Arista Networks from $330.00 to $378.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 3rd. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $381.33.
Arista Networks Company Profile
Arista Networks, Inc engages in the development, marketing, and sale of cloud networking solutions. Its cloud networking solutions consist of Extensible Operating System(EOS) a set of network applications and Ethernet switching, and routing platforms. The company was founded by Andreas Bechtolsheim, David Cheriton, and Kenneth Duda in October 2004 and is headquartered in Santa Clara, CA.
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