Blue Trust Inc. Purchases 1,244 Shares of Arista Networks, Inc. (NYSE:ANET)

Blue Trust Inc. boosted its position in Arista Networks, Inc. (NYSE:ANET) by 89.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,638 shares of the technology company’s stock after purchasing an additional 1,244 shares during the period. Blue Trust Inc.’s holdings in Arista Networks were worth $925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Beacon Capital Management LLC lifted its stake in shares of Arista Networks by 500.0% during the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after acquiring an additional 65 shares during the last quarter. LGT Financial Advisors LLC bought a new stake in shares of Arista Networks during the second quarter worth $27,000. Financial Synergies Wealth Advisors Inc. boosted its stake in shares of Arista Networks by 872.7% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after purchasing an additional 96 shares during the period. Byrne Asset Management LLC bought a new position in shares of Arista Networks in the second quarter worth about $33,000. Finally, Sugarloaf Wealth Management LLC bought a new stake in Arista Networks during the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on ANET shares. Rosenblatt Securities raised their target price on shares of Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. Jefferies Financial Group raised their price objective on Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Piper Sandler upped their target price on Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Barclays raised their price target on Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, KeyCorp upped their price objective 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and an average target price of $369.50.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $402.00 on Monday. The business’s 50-day moving average is $367.25 and its 200 day moving average is $331.82. Arista Networks, Inc. has a 1 year low of $168.25 and a 1 year high of $422.73. The firm has a market capitalization of $125.97 billion, a P/E ratio of 55.99, a P/E/G ratio of 3.21 and a beta of 1.07.

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

Insider Activity

In other Arista Networks news, Director Kelly Bodnar Battles sold 216 shares of Arista Networks stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $324.02, for a total transaction of $69,988.32. Following the completion of the sale, the director now owns 2,726 shares of the company’s stock, valued at approximately $883,278.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Arista Networks news, Director Kelly Bodnar Battles sold 216 shares of Arista Networks stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $324.02, for a total transaction of $69,988.32. Following the completion of the sale, the director now directly owns 2,726 shares in the company, valued at approximately $883,278.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction on 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 sale, the senior vice president now directly owns 3,244 shares in the company, valued at $1,280,374.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,197 shares of company stock valued at $21,326,894 over the last ninety days. 3.54% of the stock is currently owned by insiders.

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.