Nemes Rush Group LLC Has $359,000 Holdings in Arista Networks, Inc. (NYSE:ANET)

Nemes Rush Group LLC boosted its stake in Arista Networks, Inc. (NYSE:ANET) by 33.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,025 shares of the technology company’s stock after purchasing an additional 258 shares during the period. Nemes Rush Group LLC’s holdings in Arista Networks were worth $359,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. 9258 Wealth Management LLC bought a new position in Arista Networks during the 4th quarter worth approximately $240,000. Stifel Financial Corp increased its position in shares of Arista Networks by 4.5% during the fourth quarter. Stifel Financial Corp now owns 156,732 shares of the technology company’s stock worth $36,912,000 after buying an additional 6,774 shares during the period. Focus Financial Network Inc. ADV bought a new position in Arista Networks during the fourth quarter worth $507,000. TFO Wealth Partners LLC lifted its holdings in Arista Networks by 31,825.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,277 shares of the technology company’s stock valued at $301,000 after buying an additional 1,273 shares during the period. Finally, Qtron Investments LLC lifted its holdings in Arista Networks by 44.1% in the fourth quarter. Qtron Investments LLC now owns 2,010 shares of the technology company’s stock valued at $473,000 after buying an additional 615 shares during the period. 82.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

ANET has been the subject of several research analyst reports. Morgan Stanley lifted their price objective on Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. Wells Fargo & Company lifted their target price on Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Piper Sandler increased their price target on Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Citigroup lifted their price objective on shares of Arista Networks from $330.00 to $385.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Finally, The Goldman Sachs Group boosted their target price on shares of Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and an average price target of $363.25.

Arista Networks Stock Performance

Shares of ANET opened at $380.26 on Friday. The firm has a market capitalization of $119.16 billion, a P/E ratio of 52.96, a P/E/G ratio of 3.04 and a beta of 1.07. Arista Networks, Inc. has a 52 week low of $168.25 and a 52 week high of $395.82. The stock has a 50 day moving average price of $345.69 and a two-hundred day moving average price of $320.40.

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

Insider Transactions at Arista Networks

In related news, Director Kelly Bodnar Battles sold 372 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $356.74, for a total transaction of $132,707.28. Following the transaction, the director now directly owns 2,565 shares of the company’s stock, valued at $915,038.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Kelly Bodnar Battles sold 372 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $356.74, for a total transaction of $132,707.28. Following the completion of the sale, the director now directly owns 2,565 shares of the company’s stock, valued at $915,038.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction on Monday, July 1st. The stock was sold at an average price of $352.93, for a total value of $705,860.00. Following the sale, the director now owns 52,946 shares in the company, valued at $18,686,231.78. The disclosure for this sale can be found here. Insiders sold a total of 82,361 shares of company stock worth $29,349,123 in the last quarter. 3.54% of the stock is currently owned by corporate insiders.

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.