MBB Public Markets I LLC Takes $6.66 Million Position in Arista Networks, Inc. (NYSE:ANET)

MBB Public Markets I LLC acquired a new position in shares of Arista Networks, Inc. (NYSE:ANET) during the second quarter, HoldingsChannel.com reports. The firm acquired 19,014 shares of the technology company’s stock, valued at approximately $6,664,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ANET. Vanguard Group Inc. increased 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 during the last quarter. Capital World Investors raised its position 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 valued at $2,387,211,000 after purchasing an additional 55,312 shares during the period. GQG Partners LLC acquired a new position in shares of Arista Networks in the 1st quarter valued at $881,848,000. Swedbank AB acquired a new stake in shares of Arista Networks during the 1st quarter worth about $521,767,000. Finally, Ameriprise Financial Inc. raised its holdings in Arista Networks by 97.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock valued at $628,966,000 after buying an additional 884,703 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Ratings Changes

ANET has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $375.00 price target on shares of Arista Networks in a research report on Wednesday, July 31st. Evercore ISI reiterated an “outperform” rating and issued a $400.00 target price on shares of Arista Networks in a report on Friday, September 13th. UBS Group upped their price target on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. KeyCorp lifted their price objective on Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Finally, Citigroup increased their price target 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 issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and an average price target of $363.25.

Insider Buying and Selling

In other Arista Networks news, Director Kelly Bodnar Battles sold 372 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $356.74, for a total value of $132,707.28. Following the transaction, the director now directly owns 2,565 shares in the company, valued at $915,038.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Jayshree Ullal sold 25,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $357.00, for a total value of $8,925,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,595,800 shares of the company’s stock, valued at approximately $569,700,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kelly Bodnar Battles sold 372 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $915,038.10. The disclosure for this sale can be found here. Insiders sold a total of 82,361 shares of company stock worth $29,349,123 over the last 90 days. 3.54% of the stock is owned by insiders.

Arista Networks Trading Down 1.6 %

Shares of ANET opened at $380.05 on Friday. The firm has a market capitalization of $119.09 billion, a price-to-earnings ratio of 52.93, a PEG ratio of 3.04 and a beta of 1.07. The firm’s fifty day simple moving average is $344.70 and its 200-day simple moving average is $319.38. Arista Networks, Inc. has a twelve month low of $168.25 and a twelve month high of $395.82.

Arista Networks (NYSE:ANET) last posted its quarterly 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. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. Arista Networks’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the firm earned $1.41 earnings per share. On average, analysts predict 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.