Arista Networks, Inc. (NYSE:ANET) Shares Bought by Creative Planning

Creative Planning raised its position in Arista Networks, Inc. (NYSE:ANET) by 135.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 96,562 shares of the technology company’s stock after purchasing an additional 55,521 shares during the quarter. Creative Planning’s holdings in Arista Networks were worth $33,843,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in ANET. Benjamin Edwards Inc. acquired a new stake in shares of Arista Networks in the first quarter valued at approximately $26,000. Beacon Capital Management LLC boosted its holdings 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 bought a new position in shares of Arista Networks in the second quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. boosted its holdings in shares of Arista Networks by 872.7% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after acquiring an additional 96 shares in the last quarter. Finally, Byrne Asset Management LLC bought a new position in shares of Arista Networks in the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on ANET. UBS Group increased their price objective on shares of Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Jefferies Financial Group increased their price objective on shares of Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on shares of Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Rosenblatt Securities raised their target price on shares of Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. Finally, Barclays raised their target price on shares of Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $363.25.

Arista Networks Stock Down 1.6 %

ANET stock opened at $380.26 on Monday. Arista Networks, Inc. has a 12-month low of $168.25 and a 12-month high of $395.82. The company has a market cap of $119.16 billion, a price-to-earnings ratio of 52.96, a PEG ratio of 3.04 and a beta of 1.07. The company has a 50 day moving average of $345.69 and a two-hundred day moving average of $320.68.

Arista Networks (NYSE:ANET) last released its earnings results 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. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the firm earned $1.41 EPS. The company’s revenue was up 15.9% compared to the same quarter last year. On average, research analysts anticipate that Arista Networks, Inc. will post 7.38 EPS for the current year.

Insiders Place Their Bets

In other Arista Networks news, Director Kelly Bodnar Battles sold 372 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $356.74, for a total value of $132,707.28. Following the completion of the sale, the director now owns 2,565 shares in the company, valued at approximately $915,038.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Kelly Bodnar Battles sold 372 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $356.74, for a total transaction of $132,707.28. Following the transaction, the director now owns 2,565 shares in the company, valued at approximately $915,038.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 1,689 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $321.28, for a total transaction of $542,641.92. Following the transaction, the senior vice president now owns 182,600 shares in the company, valued at approximately $58,665,728. The disclosure for this sale can be found here. Insiders sold a total of 54,157 shares of company stock worth $19,291,193 in the last quarter. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks Company 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.