von Borstel & Associates Inc. Makes New Investment in Arista Networks, Inc. (NYSE:ANET)

von Borstel & Associates Inc. purchased a new stake in Arista Networks, Inc. (NYSE:ANET) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 736 shares of the technology company’s stock, valued at approximately $282,000. Arista Networks makes up about 0.2% of von Borstel & Associates Inc.’s investment portfolio, making the stock its 28th biggest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ANET. Beacon Capital Management LLC grew its holdings 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 buying an additional 65 shares during the last quarter. LGT Financial Advisors LLC acquired a new position in Arista Networks in the 2nd quarter valued at about $27,000. Benjamin Edwards Inc. acquired a new position in Arista Networks in the 1st quarter valued at about $26,000. Byrne Asset Management LLC purchased a new position in Arista Networks in the 2nd quarter valued at about $33,000. Finally, Sugarloaf Wealth Management LLC acquired a new stake in shares of Arista Networks during the 2nd quarter worth about $35,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ANET. Needham & Company LLC restated a “buy” rating and set a $375.00 target price on shares of Arista Networks in a research report on Wednesday, July 31st. Bank of America raised their price objective on Arista Networks from $320.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. JPMorgan Chase & Co. increased their target price on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Evercore ISI upped 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. Finally, Wells Fargo & Company upped their price target on shares of Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $369.50.

Arista Networks Stock Down 5.2 %

ANET stock traded down $21.54 during mid-day trading on Tuesday, reaching $391.93. The company had a trading volume of 3,291,039 shares, compared to its average volume of 2,245,843. The stock’s 50-day simple moving average is $361.31 and its two-hundred day simple moving average is $328.80. The stock has a market capitalization of $122.82 billion, a P/E ratio of 53.76, a P/E/G ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a one year low of $168.25 and a one year high of $422.73.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) 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 analysts’ expectations 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 for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.41 earnings per share. On average, research analysts forecast that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

Insider Transactions at Arista Networks

In related news, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $342.28, for a total transaction of $684,560.00. Following the transaction, the director now owns 50,946 shares in the company, valued at $17,437,796.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $342.28, for a total value of $684,560.00. Following the transaction, the director now owns 50,946 shares of the company’s stock, valued at $17,437,796.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the sale, the senior vice president now owns 3,244 shares of the company’s stock, valued at $1,280,374.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 58,197 shares of company stock valued at $21,326,894. 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.