Bleakley Financial Group LLC Raises Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Bleakley Financial Group LLC increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 26.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 6,426 shares of the technology company’s stock after acquiring an additional 1,337 shares during the period. Bleakley Financial Group LLC’s holdings in Arista Networks were worth $2,466,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ANET. nVerses Capital LLC grew its holdings in shares of Arista Networks by 10.5% in the third quarter. nVerses Capital LLC now owns 2,100 shares of the technology company’s stock worth $806,000 after purchasing an additional 200 shares during the last quarter. Mezzasalma Advisors LLC grew its stake in Arista Networks by 1.4% in the 3rd quarter. Mezzasalma Advisors LLC now owns 24,710 shares of the technology company’s stock worth $9,484,000 after acquiring an additional 350 shares in the last quarter. Kowal Investment Group LLC grew its stake in Arista Networks by 35.8% in the 3rd quarter. Kowal Investment Group LLC now owns 1,865 shares of the technology company’s stock worth $716,000 after acquiring an additional 492 shares in the last quarter. Cornerstone Wealth Management LLC purchased a new position in shares of Arista Networks during the third quarter worth approximately $207,000. Finally, Rheos Capital Works Inc. raised its stake in shares of Arista Networks by 34.1% during the third quarter. Rheos Capital Works Inc. now owns 27,500 shares of the technology company’s stock valued at $10,555,000 after acquiring an additional 7,000 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Activity

In related news, CEO Jayshree Ullal sold 832 shares of Arista Networks stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $318.12, for a total transaction of $264,675.84. Following the completion of the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at $5,624,679.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares in the company, valued at approximately $1,280,374.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jayshree Ullal sold 832 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $318.12, for a total value of $264,675.84. Following the completion of the sale, the chief executive officer now owns 17,681 shares in the company, valued at $5,624,679.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,197 shares of company stock valued at $21,326,894. Company insiders own 3.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ANET shares. Citigroup raised their price objective on Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Needham & Company LLC restated a “buy” rating and issued a $375.00 price objective on shares of Arista Networks in a report on Wednesday, July 31st. Rosenblatt Securities upped their price objective on shares of Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research note on Wednesday, July 31st. Wells Fargo & Company raised their target price on shares of Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Evercore ISI upped their price target on shares of Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. 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 company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $369.50.

Arista Networks Stock Down 1.3 %

Shares of Arista Networks stock opened at $402.00 on Friday. The company has a 50 day moving average price of $367.25 and a 200 day moving average price of $331.31. The firm has a market capitalization of $125.97 billion, a P/E ratio of 55.99, a PEG ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a 52 week low of $168.25 and a 52 week 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, topping 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 the consensus estimate of $1.66 billion. During the same period in the previous 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. As a group, research analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal 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.