Ballentine Partners LLC Grows Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Ballentine Partners LLC boosted its stake in Arista Networks, Inc. (NYSE:ANET) by 5.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,543 shares of the technology company’s stock after purchasing an additional 130 shares during the period. Ballentine Partners LLC’s holdings in Arista Networks were worth $976,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. GQG Partners LLC bought a new position in shares of Arista Networks in the 1st quarter worth approximately $881,848,000. Swedbank AB bought a new position in Arista Networks in the first quarter worth approximately $521,767,000. Ameriprise Financial Inc. boosted its stake in shares of Arista Networks by 97.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock worth $628,966,000 after acquiring an additional 884,703 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Arista Networks by 39,841.1% during the 3rd quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company’s stock valued at $3,358,850,000 after acquiring an additional 872,919 shares during the period. Finally, 1832 Asset Management L.P. increased its stake in shares of Arista Networks by 4,160.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 515,700 shares of the technology company’s stock worth $180,743,000 after purchasing an additional 503,597 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on ANET shares. JPMorgan Chase & Co. boosted their price target on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Jefferies Financial Group increased their target price on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Piper Sandler lifted their price target on shares of Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Wells Fargo & Company upped their price target on shares of Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, Evercore ISI lifted their target price on shares of Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and a consensus price target of $369.50.

Arista Networks Trading Down 0.4 %

Shares of ANET stock opened at $394.09 on Friday. The stock has a market capitalization of $123.49 billion, a price-to-earnings ratio of 54.89, a price-to-earnings-growth ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a 12-month low of $168.25 and a 12-month high of $422.73. The stock’s 50-day moving average price is $372.10 and its 200-day moving average price is $334.86.

Arista Networks (NYSE:ANET) last released its quarterly earnings data 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 the consensus estimate of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The company’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.41 EPS. As a group, research analysts predict that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

Insider Activity at Arista Networks

In other Arista Networks news, SVP Marc Taxay sold 628 shares of Arista Networks stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $350.50, for a total value of $220,114.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Kelly Bodnar Battles sold 373 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $396.48, for a total value of $147,887.04. Following the completion of the sale, the director now directly owns 2,192 shares in the company, valued at $869,084.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Marc Taxay sold 628 shares of Arista Networks stock in a transaction 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 have sold a total of 58,570 shares of company stock valued at $21,474,782 over the last 90 days. 3.54% of the stock is 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.