Quotient Wealth Partners LLC Purchases 109 Shares of Arista Networks, Inc. (NYSE:ANET)

Quotient Wealth Partners LLC lifted its position in Arista Networks, Inc. (NYSE:ANET) by 14.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 844 shares of the technology company’s stock after buying an additional 109 shares during the period. Quotient Wealth Partners LLC’s holdings in Arista Networks were worth $296,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. UniSuper Management Pty Ltd boosted its holdings in shares of Arista Networks by 20.3% in the first quarter. UniSuper Management Pty Ltd now owns 36,329 shares of the technology company’s stock valued at $10,535,000 after buying an additional 6,133 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Arista Networks by 7.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 51,301 shares of the technology company’s stock worth $12,082,000 after acquiring an additional 3,763 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in Arista Networks in the first quarter valued at $1,405,000. M&G Plc acquired a new stake in Arista Networks in the 1st quarter valued at $3,238,000. Finally, Lebenthal Global Advisors LLC bought a new stake in Arista Networks during the 4th quarter worth about $662,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ANET shares. Bank of America lifted their target price on Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. JPMorgan Chase & Co. upped their price objective on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Piper Sandler raised their target price on shares of Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $375.00 price target on shares of Arista Networks in a research report on Wednesday, July 31st. Finally, Jefferies Financial Group lifted their price objective on shares of Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $353.38.

Insider Activity

In other Arista Networks news, SVP Marc Taxay sold 4,493 shares of Arista Networks stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $295.47, for a total value of $1,327,546.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Marc Taxay sold 4,493 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $295.47, for a total transaction of $1,327,546.71. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $325.88, for a total value of $6,517,600.00. Following the sale, the senior vice president now directly owns 3,244 shares in the company, valued at $1,057,154.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 126,704 shares of company stock valued at $43,975,690. 3.54% of the stock is owned by company insiders.

Arista Networks Stock Up 0.8 %

Shares of ANET stock opened at $355.13 on Friday. Arista Networks, Inc. has a 12-month low of $168.25 and a 12-month high of $376.50. The company has a market capitalization of $111.28 billion, a PE ratio of 49.46, a price-to-earnings-growth ratio of 2.70 and a beta of 1.11. The firm has a 50 day moving average price of $343.38 and a two-hundred day moving average price of $306.19.

Arista Networks (NYSE:ANET) last released its quarterly 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. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period last year, the firm posted $1.41 EPS. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, research analysts expect that Arista Networks, Inc. will post 7.29 EPS for the current year.

Arista Networks announced that its board has authorized a stock repurchase program on Tuesday, May 7th that allows the company to buyback $1.20 billion in shares. This buyback authorization allows the technology company to repurchase up to 1.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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.