Claro Advisors LLC Increases Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Claro Advisors LLC boosted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 81.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 1,069 shares of the technology company’s stock after acquiring an additional 480 shares during the period. Claro Advisors LLC’s holdings in Arista Networks were worth $410,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Beacon Capital Management LLC lifted its position in shares of Arista Networks by 500.0% in the second 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 stake in shares of Arista Networks in the second quarter valued at about $27,000. Benjamin Edwards Inc. purchased a new position in shares of Arista Networks in the first quarter worth about $26,000. Byrne Asset Management LLC purchased a new stake in Arista Networks during the 2nd quarter valued at about $33,000. Finally, Sugarloaf Wealth Management LLC acquired a new stake in Arista Networks in the 2nd quarter valued at about $35,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $394.69, for a total value of $7,893,800.00. Following the sale, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $1,280,374.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 that occurred on Monday, October 7th. The shares were sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the sale, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $1,280,374.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Marc Taxay sold 628 shares of Arista Networks stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $350.50, for a total transaction of $220,114.00. The disclosure for this sale can be found here. Insiders sold a total of 58,197 shares of company stock worth $21,326,894 over the last 90 days. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $402.00 on Friday. The stock has a market capitalization of $125.97 billion, a price-to-earnings ratio of 55.99, a price-to-earnings-growth ratio of 3.21 and a beta of 1.07. The business has a 50-day moving average of $367.25 and a 200 day moving average of $331.59. Arista Networks, Inc. has a 12 month low of $168.25 and a 12 month high of $422.73.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, beating 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 business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the firm posted $1.41 earnings per share. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. Equities research analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

ANET has been the subject of a number of analyst reports. Citigroup upped their price target on Arista Networks from $385.00 to $460.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. UBS Group raised their target price on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. The Goldman Sachs Group lifted their price target on Arista Networks from $390.00 to $430.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Wells Fargo & Company upped their price objective on shares of Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $369.50.

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.