Fidelis Capital Partners LLC Purchases 156 Shares of Arista Networks, Inc. (NYSE:ANET)

Fidelis Capital Partners LLC raised its position in Arista Networks, Inc. (NYSE:ANET) by 6.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,456 shares of the technology company’s stock after acquiring an additional 156 shares during the period. Fidelis Capital Partners LLC’s holdings in Arista Networks were worth $861,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ANET. 1832 Asset Management L.P. grew its stake in shares of Arista Networks by 4,160.9% during the second quarter. 1832 Asset Management L.P. now owns 515,700 shares of the technology company’s stock worth $180,743,000 after acquiring an additional 503,597 shares during the last quarter. Mount Yale Investment Advisors LLC grew its position in Arista Networks by 2.2% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 1,933 shares of the technology company’s stock worth $677,000 after purchasing an additional 42 shares during the last quarter. Frank Rimerman Advisors LLC increased its stake in Arista Networks by 14,808.3% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 1,789 shares of the technology company’s stock valued at $627,000 after purchasing an additional 1,777 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Arista Networks by 6.3% in the second quarter. ProShare Advisors LLC now owns 50,774 shares of the technology company’s stock worth $17,795,000 after buying an additional 3,027 shares during the last quarter. Finally, Profund Advisors LLC grew its holdings in shares of Arista Networks by 16.4% during the second quarter. Profund Advisors LLC now owns 17,516 shares of the technology company’s stock valued at $6,139,000 after buying an additional 2,470 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ANET shares. Evercore ISI reiterated an “outperform” rating and set a $400.00 price target on shares of Arista Networks in a research note on Friday, September 13th. Morgan Stanley upped their target price on Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. Wells Fargo & Company raised 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. Bank of America increased their price objective on shares of Arista Networks from $320.00 to $380.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Finally, Needham & Company LLC restated a “buy” rating and set a $375.00 target price on shares of Arista Networks in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and a consensus price target of $358.63.

Insider Activity

In other Arista Networks news, SVP Marc Taxay sold 624 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $354.71, for a total transaction of $221,339.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Marc Taxay sold 624 shares of Arista Networks stock in a transaction on Monday, July 1st. The stock was sold at an average price of $354.71, for a total transaction of $221,339.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $370.70, for a total transaction of $7,414,000.00. Following the completion of the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $1,202,550.80. The disclosure for this sale can be found here. Insiders sold 107,361 shares of company stock worth $38,024,123 over the last ninety days. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Stock Up 1.4 %

Shares of ANET opened at $384.46 on Monday. Arista Networks, Inc. has a 52-week low of $168.25 and a 52-week high of $385.50. The stock has a market cap of $120.48 billion, a PE ratio of 53.55, a price-to-earnings-growth ratio of 2.70 and a beta of 1.07. The firm’s fifty day moving average is $341.55 and its two-hundred day moving average is $316.93.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. The firm 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 quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.41 earnings per share. As a group, research analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

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.