Curated Wealth Partners LLC purchased a new position in Arista Networks, Inc. (NYSE:ANET – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,584 shares of the technology company’s stock, valued at approximately $257,000.
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Arista Networks by 1.4% during the first quarter. Vanguard Group Inc. now owns 25,268,588 shares of the technology company’s stock valued at $3,511,828,000 after acquiring an additional 353,253 shares during the period. BlackRock Inc. increased its stake in Arista Networks by 2.0% during the first quarter. BlackRock Inc. now owns 18,734,818 shares of the technology company’s stock valued at $3,144,827,000 after acquiring an additional 372,420 shares during the period. First Republic Investment Management Inc. boosted its holdings in Arista Networks by 2,389.3% during the fourth quarter. First Republic Investment Management Inc. now owns 12,400,805 shares of the technology company’s stock valued at $1,504,838,000 after purchasing an additional 11,902,638 shares in the last quarter. State Street Corp boosted its holdings in Arista Networks by 3.2% during the first quarter. State Street Corp now owns 9,991,923 shares of the technology company’s stock valued at $1,677,231,000 after purchasing an additional 313,036 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Arista Networks by 56.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,236,411 shares of the technology company’s stock valued at $999,488,000 after purchasing an additional 2,980,979 shares in the last quarter. 67.13% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, Director Kelly Bodnar Battles sold 284 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $191.65, for a total transaction of $54,428.60. Following the sale, the director now owns 2,743 shares of the company’s stock, valued at approximately $525,695.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Arista Networks news, Director Kelly Bodnar Battles sold 284 shares of Arista Networks stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $191.65, for a total value of $54,428.60. Following the sale, the director now owns 2,743 shares of the company’s stock, valued at approximately $525,695.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 3,500 shares of Arista Networks stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $158.45, for a total value of $554,575.00. Following the completion of the sale, the senior vice president now directly owns 223,100 shares in the company, valued at approximately $35,350,195. The disclosure for this sale can be found here. In the last quarter, insiders have sold 141,212 shares of company stock valued at $25,709,648. 18.99% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on ANET shares. Argus lifted their price objective on Arista Networks from $195.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Morgan Stanley lifted their price objective on Arista Networks from $150.00 to $185.00 and gave the company an “equal weight” rating in a report on Tuesday, August 1st. Piper Sandler boosted their target price on Arista Networks from $166.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday, August 1st. Bank of America boosted their target price on Arista Networks from $190.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, JMP Securities reissued a “market outperform” rating and issued a $200.00 target price on shares of Arista Networks in a report on Tuesday, August 1st. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $199.40.
Read Our Latest Analysis on ANET
Arista Networks Stock Down 1.5 %
ANET opened at $184.72 on Friday. The stock has a market cap of $57.19 billion, a P/E ratio of 34.14, a P/E/G ratio of 1.83 and a beta of 1.17. Arista Networks, Inc. has a 12 month low of $98.20 and a 12 month high of $198.70. The company has a fifty day simple moving average of $179.32 and a 200 day simple moving average of $163.80.
Arista Networks (NYSE:ANET – Get Free Report) last issued its quarterly earnings data on Monday, July 31st. The technology company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.29 by $0.29. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.38 billion. Arista Networks had a return on equity of 31.19% and a net margin of 32.48%. The firm’s revenue was up 38.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. On average, equities research analysts expect that Arista Networks, Inc. will post 5.49 earnings per share for the current fiscal year.
Arista Networks Company Profile
Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company’s cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms.
Further Reading
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