LGT Financial Advisors LLC Makes New $27,000 Investment in Arista Networks, Inc. (NYSE:ANET)

LGT Financial Advisors LLC bought a new stake in shares of Arista Networks, Inc. (NYSE:ANET) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 78 shares of the technology company’s stock, valued at approximately $27,000.

A number of other hedge funds also recently made changes to their positions in the business. UniSuper Management Pty Ltd increased its position in Arista Networks by 20.3% in the first quarter. UniSuper Management Pty Ltd now owns 36,329 shares of the technology company’s stock worth $10,535,000 after buying an additional 6,133 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Arista Networks by 7.9% in 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 during the last quarter. Central Pacific Bank Trust Division purchased a new stake in Arista Networks in the 1st quarter worth about $1,405,000. M&G Plc bought a new stake in Arista Networks in the 1st quarter valued at about $3,238,000. Finally, Nordea Investment Management AB lifted its holdings in Arista Networks by 32.5% during the first quarter. Nordea Investment Management AB now owns 26,799 shares of the technology company’s stock valued at $7,810,000 after purchasing an additional 6,578 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ANET has been the subject of several recent research reports. Erste Group Bank reiterated a “buy” rating on shares of Arista Networks in a research note on Friday, June 14th. Morgan Stanley lifted their price objective on shares of Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. Barclays increased their target price on Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Bank of America lifted their price target on Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Finally, Jefferies Financial Group boosted their price objective on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research note 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 company. Based on data from MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $358.63.

Arista Networks Trading Down 4.3 %

ANET stock opened at $314.37 on Friday. The company’s 50 day moving average is $343.09 and its 200 day moving average is $310.67. The stock has a market cap of $98.51 billion, a price-to-earnings ratio of 43.78, a price-to-earnings-growth ratio of 2.78 and a beta of 1.11. Arista Networks, Inc. has a 1-year low of $168.25 and a 1-year high of $376.50.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the firm earned $1.41 EPS. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other news, SVP Marc Taxay sold 624 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $354.71, for a total value of $221,339.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Marc Taxay sold 624 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $354.71, for a total value of $221,339.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $325.88, for a total transaction of $6,517,600.00. Following the completion of the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $1,057,154.72. The disclosure for this sale can be found here. Insiders have sold 126,300 shares of company stock worth $44,194,544 over the last 90 days. Corporate 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.