677 Shares in Arista Networks, Inc. (NYSE:ANET) Acquired by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. acquired a new position in shares of Arista Networks, Inc. (NYSE:ANET) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 677 shares of the technology company’s stock, valued at approximately $237,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ANET. Vanguard Group Inc. increased its position 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 purchasing an additional 1,596,040 shares in the last quarter. Capital World Investors raised its stake in shares of Arista Networks by 0.5% in the fourth quarter. Capital World Investors now owns 10,136,348 shares of the technology company’s stock valued at $2,387,211,000 after acquiring an additional 55,312 shares during the last quarter. WCM Investment Management LLC raised its stake in shares of 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 acquiring an additional 25,196 shares during the last quarter. GQG Partners LLC acquired a new position in shares of Arista Networks in the 1st quarter worth approximately $881,848,000. Finally, Norges Bank bought a new stake in Arista Networks during the 4th quarter worth approximately $586,051,000. 82.47% of the stock is owned by institutional investors.

Insider Activity at Arista Networks

In related news, SVP Kenneth Duda sold 1,689 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $321.28, for a total transaction of $542,641.92. Following the completion of the transaction, the senior vice president now directly owns 182,600 shares of the company’s stock, valued at $58,665,728. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Marc Taxay sold 624 shares of the business’s 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Kenneth Duda sold 1,689 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $321.28, for a total transaction of $542,641.92. Following the completion of the sale, the senior vice president now owns 182,600 shares of the company’s stock, valued at $58,665,728. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 106,989 shares of company stock valued at $37,891,416. 3.54% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ANET has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price objective on Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Barclays boosted their target price on shares of Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Morgan Stanley increased their price target 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. Finally, Citigroup boosted their price objective on shares of Arista Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. One equities research 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $358.63.

Arista Networks Stock Up 1.2 %

NYSE:ANET opened at $359.76 on Monday. Arista Networks, Inc. has a twelve month low of $168.25 and a twelve month high of $376.50. The company has a market cap of $113.02 billion, a P/E ratio of 50.11, a price-to-earnings-growth ratio of 2.70 and a beta of 1.07. The business has a 50 day moving average price of $341.07 and a two-hundred day moving average price of $313.92.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, beating 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 business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter last year, the firm earned $1.41 earnings per share. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

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.