Arista Networks, Inc. (NYSE:ANET) Shares Bought by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. raised its holdings in Arista Networks, Inc. (NYSE:ANET) by 24.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,156 shares of the technology company’s stock after purchasing an additional 2,217 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Arista Networks were worth $3,910,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ANET. GQG Partners LLC acquired a new stake in Arista Networks in the 1st quarter worth about $881,848,000. Swedbank AB acquired a new stake in shares of Arista Networks in the first quarter worth approximately $521,767,000. Vanguard Group Inc. increased its position in shares of Arista Networks by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock worth $6,946,338,000 after purchasing an additional 1,596,040 shares in the last quarter. TD Asset Management Inc raised its stake in Arista Networks by 145.5% in the 4th quarter. TD Asset Management Inc now owns 794,935 shares of the technology company’s stock valued at $187,215,000 after purchasing an additional 471,099 shares during the last quarter. Finally, Schroder Investment Management Group lifted its holdings in Arista Networks by 29.9% in the 4th quarter. Schroder Investment Management Group now owns 1,635,783 shares of the technology company’s stock valued at $385,243,000 after purchasing an additional 376,478 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $352.93, for a total value of $705,860.00. Following the completion of the transaction, the director now owns 52,946 shares of the company’s stock, valued at $18,686,231.78. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction on Monday, July 1st. The stock was sold at an average price of $352.93, for a total value of $705,860.00. Following the completion of the transaction, the director now directly owns 52,946 shares in the company, valued at $18,686,231.78. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kelly Bodnar Battles sold 372 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $356.74, for a total value of $132,707.28. Following the sale, the director now owns 2,565 shares in the company, valued at approximately $915,038.10. The disclosure for this sale can be found here. Insiders have sold 107,361 shares of company stock worth $38,024,123 over the last three months. Company insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

NYSE:ANET opened at $384.46 on Friday. The stock has a market capitalization of $120.48 billion, a P/E ratio of 53.55, a PEG ratio of 2.70 and a beta of 1.07. Arista Networks, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $385.50. The company has a 50 day moving average price of $341.55 and a 200 day moving average price of $316.71.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.38. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the previous year, the firm posted $1.41 earnings per share. The company’s revenue was up 15.9% on a year-over-year basis. Research analysts forecast that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ANET. Bank of America upped their target price on shares of Arista Networks from $320.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Rosenblatt Securities increased their price objective on shares of Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their target price on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Needham & Company LLC reiterated a “buy” rating and set a $375.00 price objective on shares of Arista Networks in a research report on Wednesday, July 31st. Finally, Jefferies Financial Group upped their target price on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $358.63.

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.