Symmetry Investments LP Takes Position in Arista Networks, Inc. (NYSE:ANET)

Symmetry Investments LP acquired a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,778 shares of the technology company’s stock, valued at approximately $974,000.

Other institutional investors also recently bought and sold shares of the company. Benjamin Edwards Inc. purchased a new stake in Arista Networks during the 1st quarter valued at about $26,000. Beacon Capital Management LLC boosted 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 acquiring an additional 65 shares during the period. LGT Financial Advisors LLC purchased a new stake in Arista Networks during the 2nd quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. boosted its holdings in Arista Networks by 872.7% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after acquiring an additional 96 shares during the period. Finally, Byrne Asset Management LLC purchased a new stake in Arista Networks during the 2nd quarter valued at about $33,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. KeyCorp increased their target price on Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Citigroup increased their price objective on Arista Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Barclays increased their price objective on Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Morgan Stanley increased their price objective on Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Finally, JPMorgan Chase & Co. increased their price objective on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and a consensus price target of $358.63.

Insider Activity at Arista Networks

In related news, SVP Marc Taxay sold 624 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was 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 Securities & Exchange Commission, which is accessible through the SEC website. In other Arista Networks news, SVP Marc Taxay sold 624 shares of Arista Networks 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction on Monday, July 8th. The stock was sold at an average price of $370.70, for a total value of $7,414,000.00. Following the completion of the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $1,202,550.80. The disclosure for this sale can be found here. Insiders sold a total of 107,361 shares of company stock valued at $38,024,123 in the last 90 days. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Stock Up 1.4 %

ANET stock opened at $384.46 on Friday. Arista Networks, Inc. has a twelve month low of $168.25 and a twelve month high of $385.50. The firm has a market cap of $120.48 billion, a PE ratio of 53.55, a price-to-earnings-growth ratio of 2.70 and a beta of 1.07. The business has a 50 day moving average of $341.55 and a 200 day moving average of $316.46.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data 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 return on equity of 30.50% and a net margin of 39.01%. The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the company earned $1.41 EPS. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, research analysts expect that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Arista Networks 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.