Circle Wealth Management LLC Has $2.92 Million Position in Arista Networks, Inc. (NYSE:ANET)

Circle Wealth Management LLC increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 27.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,343 shares of the technology company’s stock after buying an additional 1,779 shares during the quarter. Circle Wealth Management LLC’s holdings in Arista Networks were worth $2,924,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kowal Investment Group LLC boosted its stake in Arista Networks by 68.5% during the second quarter. Kowal Investment Group LLC now owns 1,373 shares of the technology company’s stock worth $481,000 after buying an additional 558 shares in the last quarter. Symmetry Investments LP bought a new position in shares of Arista Networks during the 2nd quarter worth about $974,000. Nkcfo LLC bought a new stake in Arista Networks in the second quarter valued at about $350,000. Pacer Advisors Inc. raised its position in Arista Networks by 4.0% in the second quarter. Pacer Advisors Inc. now owns 34,763 shares of the technology company’s stock worth $12,184,000 after purchasing an additional 1,330 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Arista Networks by 5.2% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 87,623 shares of the technology company’s stock worth $30,710,000 after buying an additional 4,318 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on ANET. Needham & Company LLC reaffirmed a “buy” rating and issued a $375.00 price target on shares of Arista Networks in a research note on Wednesday, July 31st. KeyCorp upped their target price on shares of Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Rosenblatt Securities increased their target price on shares of Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. UBS Group boosted their price target on shares of Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. raised 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $358.63.

Arista Networks Stock Up 1.4 %

Shares of ANET stock opened at $384.46 on Friday. Arista Networks, Inc. has a 12 month low of $168.25 and a 12 month high of $385.50. The firm has a market cap of $120.48 billion, a price-to-earnings ratio of 53.55, a PEG ratio of 2.70 and a beta of 1.07. The stock has a 50-day moving average price of $341.55 and a 200 day moving average price of $316.71.

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 the consensus estimate of $1.72 by $0.38. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the company earned $1.41 EPS. Arista Networks’s revenue was up 15.9% on a year-over-year basis. Sell-side analysts predict that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kelly Bodnar Battles sold 372 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $356.74, for a total value of $132,707.28. Following the transaction, the director now owns 2,565 shares of the company’s stock, valued at approximately $915,038.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction on Monday, July 8th. The shares were 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 owns 3,244 shares in the company, valued at approximately $1,202,550.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kelly Bodnar Battles sold 372 shares of Arista Networks stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $356.74, for a total value of $132,707.28. Following the transaction, the director now owns 2,565 shares in the company, valued at $915,038.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 107,361 shares of company stock valued at $38,024,123. Company insiders own 3.54% of the company’s stock.

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.