Choreo LLC Makes New $1.49 Million Investment in Arista Networks, Inc. (NYSE:ANET)

Choreo LLC acquired a new stake in Arista Networks, Inc. (NYSE:ANET) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,175 shares of the technology company’s stock, valued at approximately $1,485,000.

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Arista Networks by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock worth $6,946,338,000 after buying an additional 1,596,040 shares in the last quarter. Capital World Investors grew its holdings in Arista Networks by 0.5% in the fourth quarter. Capital World Investors now owns 10,136,348 shares of the technology company’s stock worth $2,387,211,000 after purchasing an additional 55,312 shares during the period. WCM Investment Management LLC increased its stake in Arista Networks by 0.8% in the first quarter. WCM Investment Management LLC now owns 3,049,416 shares of the technology company’s stock valued at $884,270,000 after purchasing an additional 25,196 shares in the last quarter. GQG Partners LLC acquired a new position in shares of Arista Networks during the first quarter valued at about $881,848,000. Finally, Norges Bank bought a new position in shares of Arista Networks during the 4th quarter worth about $586,051,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ANET shares. JPMorgan Chase & Co. upped their price target on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Rosenblatt Securities upped their target price on Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. Evercore ISI lifted their price target on shares of Arista Networks from $340.00 to $400.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Wells Fargo & Company upped their price objective on shares of Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, 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 report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $358.63.

Insider Activity at Arista Networks

In other Arista Networks news, SVP Marc Taxay sold 624 shares of the firm’s stock in a transaction on 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 filing with the Securities & Exchange Commission, which can be accessed through this link. In other Arista Networks news, SVP Marc Taxay sold 624 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $354.71, for a total transaction of $221,339.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jayshree Ullal sold 832 shares of Arista Networks stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $318.12, for a total transaction of $264,675.84. Following the completion of the transaction, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $5,624,679.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 107,989 shares of company stock worth $38,219,586. Insiders own 3.54% of the company’s stock.

Arista Networks Trading Up 4.9 %

ANET stock opened at $342.65 on Thursday. The stock has a market cap of $107.37 billion, a P/E ratio of 47.72, a P/E/G ratio of 2.48 and a beta of 1.07. Arista Networks, Inc. has a 1-year low of $168.25 and a 1-year high of $376.50. The stock’s fifty day simple moving average is $341.40 and its two-hundred day simple moving average is $312.45.

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