Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Weatherly Asset Management L. P.

Weatherly Asset Management L. P. grew its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 10.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,971 shares of the technology company’s stock after purchasing an additional 1,965 shares during the quarter. Arista Networks makes up about 0.7% of Weatherly Asset Management L. P.’s holdings, making the stock its 29th biggest position. Weatherly Asset Management L. P.’s holdings in Arista Networks were worth $7,665,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Beacon Capital Management LLC raised its stake in Arista Networks by 500.0% during the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after acquiring an additional 65 shares during the last quarter. LGT Financial Advisors LLC purchased a new stake in shares of Arista Networks in the second quarter valued at approximately $27,000. Byrne Asset Management LLC purchased a new position in Arista Networks in the second quarter worth $33,000. Sugarloaf Wealth Management LLC acquired a new stake in Arista Networks in the second quarter valued at $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Arista Networks during the 2nd quarter worth $35,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insiders Place Their Bets

In related news, Director Kelly Bodnar Battles sold 373 shares of Arista Networks stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $396.48, for a total transaction of $147,887.04. Following the sale, the director now owns 2,192 shares of the company’s stock, valued at $869,084.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Arista Networks news, Director Kelly Bodnar Battles sold 373 shares of Arista Networks stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $396.48, for a total transaction of $147,887.04. Following the sale, the director now directly owns 2,192 shares in the company, valued at $869,084.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kenneth Duda sold 1,592 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $349.55, for a total value of $556,483.60. Following the transaction, the senior vice president now owns 186,600 shares of the company’s stock, valued at approximately $65,226,030. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,522 shares of company stock worth $20,099,338 in the last 90 days. 3.54% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on ANET. Evercore ISI lifted their price objective on Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. raised their price target on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Jefferies Financial Group boosted their target price on shares of Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Citigroup lifted their price target on shares of Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $375.00 price objective on shares of Arista Networks in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $373.88.

Arista Networks Trading Up 2.0 %

NYSE:ANET opened at $394.23 on Friday. Arista Networks, Inc. has a twelve month low of $203.19 and a twelve month high of $422.73. The firm has a market capitalization of $123.85 billion, a price-to-earnings ratio of 51.13, a PEG ratio of 3.49 and a beta of 1.07. The firm’s fifty day simple moving average is $376.13 and its 200 day simple moving average is $338.73.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, topping the consensus estimate 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 revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.41 earnings per share. On average, analysts predict that Arista Networks, Inc. will post 7.42 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.