Advisory Alpha LLC purchased a new stake in Arista Networks, Inc. (NYSE:ANET – Free Report) in the 2nd quarter, HoldingsChannel reports. The fund purchased 653 shares of the technology company’s stock, valued at approximately $229,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Beacon Capital Management LLC grew its stake 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 in the last quarter. LGT Financial Advisors LLC acquired a new position in Arista Networks in the 2nd quarter valued at approximately $27,000. Benjamin Edwards Inc. purchased a new stake in Arista Networks in the 1st quarter worth approximately $26,000. Byrne Asset Management LLC acquired a new stake in shares of Arista Networks during the 2nd quarter valued at $33,000. Finally, Sugarloaf Wealth Management LLC acquired a new stake in shares of Arista Networks during the 2nd quarter valued at $35,000. Institutional investors and hedge funds own 82.47% of the company’s stock.
Insider Activity at Arista Networks
In other Arista Networks news, Director Kelly Bodnar Battles sold 372 shares of the company’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 completion of 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 legal filing with the SEC, which is available at this hyperlink. In other news, Director Kelly Bodnar Battles sold 372 shares of the stock in a transaction 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 completion of the transaction, the director now owns 2,565 shares in the company, valued at approximately $915,038.10. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider John F. Mccool sold 584 shares of Arista Networks stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $351.09, for a total transaction of $205,036.56. Following the sale, the insider now owns 72 shares in the company, valued at $25,278.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,157 shares of company stock worth $19,291,193. Company insiders own 3.54% of the company’s stock.
Wall Street Analyst Weigh In
Read Our Latest Research Report on Arista Networks
Arista Networks Stock Up 2.0 %
ANET opened at $389.58 on Thursday. The stock’s 50 day moving average price is $348.50 and its two-hundred day moving average price is $322.59. The firm has a market capitalization of $122.08 billion, a P/E ratio of 54.26, a price-to-earnings-growth ratio of 3.04 and a beta of 1.07. Arista Networks, Inc. has a 12-month low of $168.25 and a 12-month high of $395.82.
Arista Networks (NYSE:ANET – Get Free Report) last announced its earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. Arista Networks’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.41 earnings per share. As a group, analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current 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.
Further Reading
- Five stocks we like better than Arista Networks
- The 3 Best Fintech Stocks to Buy Now
- S&P 500 Hitting Resistance: These 3 Stocks Offer the Best Upside
- How to Invest in the FAANG Stocks
- Nike’s Post-Earnings Drop Presents a Buying Opportunity
- Bank Stocks – Best Bank Stocks to Invest In
- Microsoft’s Targeted Upside Might Be Too Good to Ignore
Want to see what other hedge funds are holding ANET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arista Networks, Inc. (NYSE:ANET – Free Report).
Receive News & Ratings for Arista Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks and related companies with MarketBeat.com's FREE daily email newsletter.