Arista Networks, Inc. (NYSE:ANET) Position Lifted by Childress Capital Advisors LLC

Childress Capital Advisors LLC raised its stake in Arista Networks, Inc. (NYSE:ANET) by 13.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 983 shares of the technology company’s stock after purchasing an additional 118 shares during the period. Childress Capital Advisors LLC’s holdings in Arista Networks were worth $377,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. GQG Partners LLC acquired a new position in Arista Networks in the first quarter valued at approximately $881,848,000. Swedbank AB acquired a new stake in Arista Networks in the first quarter worth $521,767,000. Ameriprise Financial Inc. lifted its stake 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 valued at $628,966,000 after buying an additional 884,703 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Arista Networks by 39,841.1% during the third quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company’s stock worth $3,358,850,000 after acquiring an additional 872,919 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in shares of Arista Networks by 4,160.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 515,700 shares of the technology company’s stock worth $180,743,000 after acquiring an additional 503,597 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In related news, SVP Marc Taxay sold 628 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $350.50, for a total value of $220,114.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Marc Taxay sold 628 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $350.50, for a total value of $220,114.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 1,592 shares of Arista Networks stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $349.55, for a total transaction of $556,483.60. Following the transaction, the senior vice president now owns 186,600 shares in the company, valued at approximately $65,226,030. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,570 shares of company stock valued at $21,474,782 over the last three months. Company insiders own 3.54% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on ANET shares. Citigroup boosted their target price on shares of Arista Networks from $385.00 to $460.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. increased their price objective on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Morgan Stanley lifted their target price on Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. Evercore ISI increased their price target on Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Finally, Piper Sandler raised 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 investment analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $369.50.

Arista Networks Price Performance

ANET stock opened at $401.57 on Wednesday. The firm has a market cap of $125.84 billion, a PE ratio of 55.93, a P/E/G ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a 12 month low of $174.59 and a 12 month high of $422.73. The firm has a 50 day simple moving average of $373.86 and a 200 day simple moving average of $337.07.

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 analysts’ consensus estimates of $1.72 by $0.38. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.41 EPS. As a group, sell-side analysts expect that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

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.