Vanguard Personalized Indexing Management LLC Purchases 2,735 Shares of Arista Networks, Inc. (NYSE:ANET)

Vanguard Personalized Indexing Management LLC boosted its position in Arista Networks, Inc. (NYSE:ANET) by 11.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,052 shares of the technology company’s stock after purchasing an additional 2,735 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Arista Networks were worth $9,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. FCG Investment Co raised its stake in shares of Arista Networks by 2.3% during the second quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock valued at $445,000 after acquiring an additional 29 shares in the last quarter. Old Port Advisors raised its stake in shares of Arista Networks by 3.5% during the first quarter. Old Port Advisors now owns 955 shares of the technology company’s stock valued at $277,000 after acquiring an additional 32 shares in the last quarter. Fortitude Family Office LLC raised its stake in Arista Networks by 33.3% in the second quarter. Fortitude Family Office LLC now owns 132 shares of the technology company’s stock worth $46,000 after buying an additional 33 shares in the last quarter. Resonant Capital Advisors LLC raised its stake in Arista Networks by 4.1% in the second quarter. Resonant Capital Advisors LLC now owns 870 shares of the technology company’s stock worth $305,000 after buying an additional 34 shares in the last quarter. Finally, Modera Wealth Management LLC raised its stake in Arista Networks by 2.1% in the second quarter. Modera Wealth Management LLC now owns 1,782 shares of the technology company’s stock worth $625,000 after buying an additional 37 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Analysts Set New Price Targets

ANET has been the subject of a number of recent research reports. KeyCorp boosted their price objective on shares of Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Piper Sandler upped their price target on Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Rosenblatt Securities upped their price target on Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. Morgan Stanley upped 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. Finally, UBS Group upped their price target on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $358.63.

Arista Networks Trading Up 0.5 %

Shares of NYSE ANET opened at $360.97 on Wednesday. Arista Networks, Inc. has a 12 month low of $168.25 and a 12 month high of $376.50. The company has a 50 day simple moving average of $340.74 and a two-hundred day simple moving average of $315.02. The stock has a market cap of $113.11 billion, a price-to-earnings ratio of 50.27, a PEG ratio of 2.70 and a beta of 1.07.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 EPS 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 during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the previous year, the business posted $1.41 EPS. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. Analysts forecast that Arista Networks, Inc. will post 7.38 EPS for the current year.

Insider Activity at Arista Networks

In related news, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $370.70, for a total value of $7,414,000.00. Following the completion of the transaction, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $1,202,550.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $370.70, for a total value of $7,414,000.00. Following the completion of the transaction, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $1,202,550.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $352.93, for a total transaction of $705,860.00. Following the completion of the sale, the director now directly owns 52,946 shares of the company’s stock, valued at approximately $18,686,231.78. The disclosure for this sale can be found here. Insiders sold a total of 106,989 shares of company stock worth $37,891,416 in the last three months. Company insiders own 3.54% of the company’s stock.

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.