Arista Networks, Inc. (NYSE:ANET) Shares Bought by Brighton Jones LLC

Brighton Jones LLC raised its position in Arista Networks, Inc. (NYSE:ANET) by 12.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,851 shares of the technology company’s stock after buying an additional 201 shares during the period. Brighton Jones LLC’s holdings in Arista Networks were worth $711,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ANET. GQG Partners LLC acquired a new position in Arista Networks during the first quarter worth about $881,848,000. Legal & General Group Plc lifted its holdings in shares of Arista Networks by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 2,195,733 shares of the technology company’s stock worth $769,560,000 after acquiring an additional 20,278 shares during the last quarter. Swedbank AB purchased a new stake in Arista Networks during the 1st quarter worth approximately $521,767,000. Ameriprise Financial Inc. increased its position in shares of Arista Networks by 97.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock valued at $628,966,000 after purchasing an additional 884,703 shares during the last quarter. Finally, TD Asset Management Inc increased its position in shares of Arista Networks by 18.7% in the 1st quarter. TD Asset Management Inc now owns 943,694 shares of the technology company’s stock valued at $273,652,000 after purchasing an additional 148,759 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. KeyCorp increased their price target on shares of Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Piper Sandler raised their target price on shares of Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Citigroup lifted their price target on shares of Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. UBS Group lifted their price target on shares of Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Finally, Morgan Stanley raised their target price on shares of Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. One investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $369.50.

Arista Networks Price Performance

ANET opened at $394.04 on Friday. The stock has a market capitalization of $123.48 billion, a PE ratio of 54.88, a P/E/G ratio of 3.21 and a beta of 1.07. The firm’s fifty day moving average price is $371.30 and its 200 day moving average price is $334.19. Arista Networks, Inc. has a 12-month low of $168.25 and a 12-month high of $422.73.

Arista Networks (NYSE:ANET) last issued its 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 company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.41 earnings per share. On average, equities research analysts forecast that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $394.69, for a total value of $7,893,800.00. Following the sale, the senior vice president now owns 3,244 shares of the company’s stock, valued at $1,280,374.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Jayshree Ullal sold 17,752 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $354.29, for a total value of $6,289,356.08. Following the completion of the transaction, the chief executive officer now owns 17,681 shares in the company, valued at $6,264,201.49. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction dated Monday, October 7th. The shares were 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 of the company’s stock, valued at $1,280,374.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,570 shares of company stock valued at $21,474,782 in the last quarter. Company insiders own 3.54% of the company’s stock.

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.