549 Shares in Arista Networks, Inc. (NYSE:ANET) Bought by Vicus Capital

Vicus Capital purchased a new position in Arista Networks, Inc. (NYSE:ANET) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 549 shares of the technology company’s stock, valued at approximately $211,000.

Several other large investors have also recently modified their holdings of ANET. UniSuper Management Pty Ltd lifted its holdings in shares of Arista Networks by 20.3% in the first quarter. UniSuper Management Pty Ltd now owns 36,329 shares of the technology company’s stock worth $10,535,000 after buying an additional 6,133 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Arista Networks in the 1st quarter valued at $1,405,000. M&G Plc purchased a new stake in shares of Arista Networks during the first quarter valued at about $3,238,000. Nordea Investment Management AB lifted its holdings in shares of Arista Networks by 32.5% during the 1st quarter. Nordea Investment Management AB now owns 26,799 shares of the technology company’s stock valued at $7,810,000 after purchasing an additional 6,578 shares during the last quarter. Finally, Deepwater Asset Management LLC acquired a new position in shares of Arista Networks during the second quarter valued at about $15,084,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Trading Down 2.3 %

Shares of ANET stock opened at $396.62 on Wednesday. Arista Networks, Inc. has a 52 week low of $168.25 and a 52 week high of $422.73. The company has a market cap of $124.29 billion, a PE ratio of 55.24, a P/E/G ratio of 3.21 and a beta of 1.07. The company’s fifty day simple moving average is $369.61 and its 200-day simple moving average is $333.34.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.38. The firm 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 quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.41 earnings per share. Equities research analysts expect that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

Insider Activity at Arista Networks

In related news, Director Kelly Bodnar Battles sold 216 shares of Arista Networks stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $324.02, for a total transaction of $69,988.32. Following the sale, the director now directly owns 2,726 shares in the company, valued at $883,278.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Kelly Bodnar Battles sold 216 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $324.02, for a total value of $69,988.32. Following the completion of the transaction, the director now owns 2,726 shares of the company’s stock, valued at approximately $883,278.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,197 shares of company stock valued at $21,326,894 in the last quarter. Insiders own 3.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ANET. KeyCorp increased their price target on Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Wells Fargo & Company lifted their target price on shares of Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Evercore ISI upped their price target on Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. increased their price target on shares of Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Needham & Company LLC restated a “buy” rating and issued a $375.00 price objective on shares of Arista Networks in a report on Wednesday, July 31st. 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, Arista Networks presently has an average rating of “Moderate Buy” and an average price target of $369.50.

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.