Corient Capital Partners LLC Boosts Holdings in Arista Networks, Inc. (NYSE:ANET)

Corient Capital Partners LLC lifted its stake in Arista Networks, Inc. (NYSE:ANETGet Rating) by 20.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,111 shares of the technology company’s stock after buying an additional 1,051 shares during the period. Corient Capital Partners LLC’s holdings in Arista Networks were worth $573,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of ANET. Versor Investments LP purchased a new position in shares of Arista Networks in the 1st quarter valued at $271,000. Envestnet Asset Management Inc. grew its position in shares of Arista Networks by 12.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 165,728 shares of the technology company’s stock valued at $23,033,000 after buying an additional 18,342 shares during the last quarter. Commonwealth Equity Services LLC grew its position in Arista Networks by 49.6% during the 1st quarter. Commonwealth Equity Services LLC now owns 56,051 shares of the technology company’s stock worth $7,789,000 after purchasing an additional 18,590 shares during the last quarter. Victory Capital Management Inc. grew its position in Arista Networks by 231.9% during the 1st quarter. Victory Capital Management Inc. now owns 967,461 shares of the technology company’s stock worth $131,343,000 after purchasing an additional 676,006 shares during the last quarter. Finally, Titleist Asset Management LTD. purchased a new position in Arista Networks during the 1st quarter worth $457,000. 63.82% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Stock Up 0.8 %

Shares of NYSE ANET opened at $137.19 on Thursday. Arista Networks, Inc. has a 52 week low of $89.11 and a 52 week high of $148.57. The firm has a 50-day moving average price of $118.16 and a 200 day moving average price of $112.01. The stock has a market capitalization of $41.92 billion, a price-to-earnings ratio of 37.38, a price-to-earnings-growth ratio of 2.06 and a beta of 1.27.

Arista Networks (NYSE:ANETGet Rating) last announced its quarterly earnings data on Monday, October 31st. The technology company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.04 by $0.21. Arista Networks had a net margin of 29.63% and a return on equity of 27.23%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter last year, the business earned $0.60 earnings per share. The business’s revenue for the quarter was up 57.2% compared to the same quarter last year. Equities research analysts expect that Arista Networks, Inc. will post 3.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. UBS Group raised their price objective on shares of Arista Networks to $135.00 in a research report on Friday, November 4th. Piper Sandler raised shares of Arista Networks from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $126.00 to $164.00 in a research report on Friday, November 4th. Cowen raised their price objective on shares of Arista Networks from $163.00 to $203.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 1st. Morgan Stanley raised their price objective on shares of Arista Networks from $115.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Monday, November 7th. Finally, Cowen raised their price objective on shares of Arista Networks from $163.00 to $203.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 1st. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $167.32.

Insider Activity at Arista Networks

In other Arista Networks news, Director Kelly Bodnar Battles sold 400 shares of Arista Networks stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $123.83, for a total transaction of $49,532.00. Following the completion of the transaction, the director now owns 1,923 shares in the company, valued at $238,125.09. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Arista Networks news, Director Kelly Bodnar Battles sold 400 shares of Arista Networks stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $123.83, for a total transaction of $49,532.00. Following the completion of the transaction, the director now owns 1,923 shares in the company, valued at $238,125.09. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $125.08, for a total transaction of $250,160.00. Following the transaction, the director now owns 96,946 shares of the company’s stock, valued at approximately $12,126,005.68. The disclosure for this sale can be found here. Insiders sold 70,476 shares of company stock worth $8,515,503 over the last 90 days. Company insiders own 19.59% of the company’s stock.

Arista Networks Profile

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Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms.

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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