Arista Networks, Inc. (NYSE:ANET) Shares Acquired by OLD National Bancorp IN

OLD National Bancorp IN increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 6.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,087 shares of the technology company’s stock after acquiring an additional 62 shares during the period. OLD National Bancorp IN’s holdings in Arista Networks were worth $417,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Cyndeo Wealth Partners LLC acquired a new stake in Arista Networks in the third quarter valued at approximately $291,000. Resonant Capital Advisors LLC grew its stake in Arista Networks by 9.9% in the 3rd quarter. Resonant Capital Advisors LLC now owns 956 shares of the technology company’s stock valued at $367,000 after acquiring an additional 86 shares during the period. Veracity Capital LLC increased its holdings in Arista Networks by 5.8% in the 3rd quarter. Veracity Capital LLC now owns 3,422 shares of the technology company’s stock worth $1,313,000 after acquiring an additional 188 shares in the last quarter. Alta Wealth Advisors LLC acquired a new position in Arista Networks during the third quarter worth $276,000. Finally, Chicago Capital LLC lifted its holdings in Arista Networks by 7.8% during the third quarter. Chicago Capital LLC now owns 4,590 shares of the technology company’s stock valued at $1,762,000 after purchasing an additional 331 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Activity

In other Arista Networks news, SVP Marc Taxay sold 628 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $350.50, for a total transaction of $220,114.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Arista Networks news, SVP Marc Taxay sold 628 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $350.50, for a total transaction of $220,114.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John F. Mccool sold 588 shares of Arista Networks stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $350.50, for a total value of $206,094.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,197 shares of company stock valued at $21,326,894. 3.54% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ANET. Wells Fargo & Company raised their price target on shares of Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Morgan Stanley increased their price objective on Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. upped 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. Jefferies Financial Group raised their price target on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, The Goldman Sachs Group boosted their target price on Arista Networks from $390.00 to $430.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $369.50.

Arista Networks Stock Down 2.3 %

NYSE:ANET opened at $396.62 on Wednesday. Arista Networks, Inc. has a 52 week low of $168.25 and a 52 week high of $422.73. The stock’s fifty day moving average is $369.61 and its two-hundred day moving average is $333.34. The stock has a market capitalization of $124.29 billion, a price-to-earnings ratio of 55.24, a price-to-earnings-growth ratio of 3.21 and a beta of 1.07.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 30.50% and a net margin of 39.01%. Arista Networks’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.41 EPS. On average, sell-side analysts expect that Arista Networks, Inc. will post 7.38 EPS for the current fiscal 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.