Mount Yale Investment Advisors LLC Boosts Stake in Arista Networks, Inc. (NYSE:ANET)

Mount Yale Investment Advisors LLC lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 2.2% during the second quarter, Holdings Channel reports. The fund owned 1,933 shares of the technology company’s stock after purchasing an additional 42 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Arista Networks were worth $677,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. FCG Investment Co increased its holdings in Arista Networks by 2.3% during the 2nd quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock worth $445,000 after purchasing an additional 29 shares during the last quarter. Old Port Advisors grew its position in shares of Arista Networks by 3.5% during the first quarter. Old Port Advisors now owns 955 shares of the technology company’s stock worth $277,000 after buying an additional 32 shares in the last quarter. Fortitude Family Office LLC grew its position in shares of Arista Networks by 33.3% during the second quarter. Fortitude Family Office LLC now owns 132 shares of the technology company’s stock worth $46,000 after buying an additional 33 shares in the last quarter. Resonant Capital Advisors LLC increased its stake in shares of Arista Networks by 4.1% in the second quarter. Resonant Capital Advisors LLC now owns 870 shares of the technology company’s stock worth $305,000 after buying an additional 34 shares during the last quarter. Finally, Modera Wealth Management LLC raised its holdings in Arista Networks by 2.1% in the second quarter. Modera Wealth Management LLC now owns 1,782 shares of the technology company’s stock valued at $625,000 after acquiring an additional 37 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ANET. Piper Sandler boosted their target price on shares of Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Bank of America boosted their price objective on Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Erste Group Bank reaffirmed a “buy” rating on shares of Arista Networks in a report on Friday, June 14th. Wells Fargo & Company boosted their price target on 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. raised their price objective on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and an average target price of $358.63.

Insider Buying and Selling at Arista Networks

In other news, CEO Jayshree Ullal sold 25,000 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $347.00, for a total transaction of $8,675,000.00. Following the transaction, the chief executive officer now directly owns 1,600,800 shares of the company’s stock, valued at $555,477,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Jayshree Ullal sold 25,000 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $347.00, for a total value of $8,675,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,600,800 shares in the company, valued at $555,477,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $352.93, for a total value of $705,860.00. Following the sale, the director now directly owns 52,946 shares in the company, valued at approximately $18,686,231.78. The disclosure for this sale can be found here. Insiders have sold 107,361 shares of company stock valued at $38,024,123 in the last quarter. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Stock Up 0.3 %

Shares of NYSE:ANET opened at $385.57 on Tuesday. The company’s 50-day moving average price is $342.05 and its 200 day moving average price is $317.63. The company has a market cap of $120.82 billion, a PE ratio of 53.70, a P/E/G ratio of 2.70 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 $390.00.

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. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the company posted $1.41 earnings per share. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, equities analysts anticipate that Arista Networks, Inc. will post 7.38 EPS 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.