Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 9.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,041 shares of the technology company’s stock after acquiring an additional 175 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Arista Networks were worth $783,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Peak Financial Advisors LLC purchased a new stake in shares of Arista Networks in the 3rd quarter valued at approximately $3,290,000. Livforsakringsbolaget Skandia Omsesidigt raised its position in Arista Networks by 31.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 31,780 shares of the technology company’s stock valued at $12,190,000 after purchasing an additional 7,514 shares during the period. Fermata Advisors LLC lifted its stake in Arista Networks by 11.7% during the third quarter. Fermata Advisors LLC now owns 1,070 shares of the technology company’s stock worth $411,000 after purchasing an additional 112 shares in the last quarter. LVW Advisors LLC boosted its position in shares of Arista Networks by 6.0% during the third quarter. LVW Advisors LLC now owns 730 shares of the technology company’s stock worth $280,000 after buying an additional 41 shares during the period. Finally, Clarius Group LLC grew its stake in shares of Arista Networks by 13.4% in the third quarter. Clarius Group LLC now owns 1,343 shares of the technology company’s stock valued at $514,000 after buying an additional 159 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Activity

In other Arista Networks news, CEO Jayshree Ullal sold 832 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $318.12, for a total transaction of $264,675.84. Following the transaction, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at approximately $5,624,679.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Arista Networks news, CEO Jayshree Ullal sold 832 shares of the stock in a transaction that occurred on 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 directly owns 17,681 shares of the company’s stock, valued at approximately $5,624,679.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $1,280,374.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,197 shares of company stock valued at $21,326,894 in the last ninety days. 3.54% of the stock is currently owned by company insiders.

Arista Networks Price Performance

NYSE ANET opened at $416.93 on Monday. The company has a fifty day moving average of $359.35 and a two-hundred day moving average of $327.93. Arista Networks, Inc. has a 1 year low of $168.25 and a 1 year high of $417.71. The company has a market capitalization of $130.65 billion, a PE ratio of 58.07, a P/E/G ratio of 3.21 and a beta of 1.07.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter last year, the business posted $1.41 EPS. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, research analysts expect that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Citigroup raised their target price on Arista Networks from $385.00 to $460.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Rosenblatt Securities lifted 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. Wells Fargo & Company increased their target price on shares of Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Evercore ISI boosted their price target on shares of Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Finally, 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $369.50.

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.