Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Centaurus Financial Inc.

Centaurus Financial Inc. raised its stake in Arista Networks, Inc. (NYSE:ANET) by 46.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,053 shares of the technology company’s stock after acquiring an additional 652 shares during the period. Centaurus Financial Inc.’s holdings in Arista Networks were worth $720,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of ANET. CIBC Private Wealth Group LLC boosted its holdings in Arista Networks by 26.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 19,562 shares of the technology company’s stock worth $4,607,000 after purchasing an additional 4,059 shares during the period. Crossmark Global Holdings Inc. grew its position in shares of Arista Networks by 9.5% during the 4th quarter. Crossmark Global Holdings Inc. now owns 14,737 shares of the technology company’s stock valued at $3,471,000 after buying an additional 1,284 shares during the last quarter. Cetera Advisor Networks LLC grew its position in shares of Arista Networks by 4.4% during the 4th quarter. Cetera Advisor Networks LLC now owns 22,375 shares of the technology company’s stock valued at $5,270,000 after buying an additional 947 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its stake in Arista Networks by 450.7% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 39,748 shares of the technology company’s stock valued at $9,361,000 after acquiring an additional 32,530 shares during the period. Finally, Cibc World Markets Corp grew its holdings in shares of Arista Networks by 136.6% during the fourth quarter. Cibc World Markets Corp now owns 32,739 shares of the technology company’s stock valued at $7,710,000 after purchasing an additional 18,899 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ANET shares. Evercore ISI boosted their price objective on Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a research report on Tuesday. Citigroup upped 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. Barclays lifted their price objective on shares of Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Jefferies Financial Group upped their target price on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, KeyCorp boosted their price objective on Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Arista Networks has an average rating of “Moderate Buy” and an average target price of $364.81.

Arista Networks Stock Up 1.5 %

ANET opened at $395.99 on Friday. The business has a fifty day simple moving average of $351.55 and a 200-day simple moving average of $323.80. The firm has a market cap of $124.09 billion, a PE ratio of 55.15, a P/E/G ratio of 3.04 and a beta of 1.07. Arista Networks, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $396.80.

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

Insider Transactions at Arista Networks

In related news, SVP Marc Taxay sold 624 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $388.37, for a total value of $242,342.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Marc Taxay sold 624 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $388.37, for a total transaction of $242,342.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kelly Bodnar Battles sold 216 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $324.02, for a total value of $69,988.32. Following the sale, the director now owns 2,726 shares of the company’s stock, valued at $883,278.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 57,361 shares of company stock valued at $20,523,830 over the last ninety days. Corporate insiders own 3.54% of the company’s stock.

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.