GHP Investment Advisors Inc. Raises Stock Position in Arista Networks, Inc. (NYSE:ANET)

GHP Investment Advisors Inc. grew its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 39.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 371 shares of the technology company’s stock after buying an additional 104 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Arista Networks were worth $130,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Benjamin Edwards Inc. bought a new stake in shares of Arista Networks in the 1st quarter valued at approximately $26,000. Beacon Capital Management LLC lifted its position in Arista Networks by 500.0% in the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after buying an additional 65 shares during the last quarter. LGT Financial Advisors LLC purchased a new position in Arista Networks during the second quarter worth $27,000. Financial Synergies Wealth Advisors Inc. increased its position in 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 acquiring an additional 96 shares during the last quarter. Finally, Byrne Asset Management LLC purchased a new stake in shares of Arista Networks in the second quarter valued at $33,000. Institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling at Arista Networks

In other news, CEO Jayshree Ullal sold 25,000 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $347.00, for a total transaction of $8,675,000.00. Following the sale, the chief executive officer now directly owns 1,600,800 shares of the company’s stock, valued at approximately $555,477,600. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Arista Networks news, SVP Kenneth Duda sold 1,689 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $321.28, for a total value of $542,641.92. Following the completion of the transaction, the senior vice president now owns 182,600 shares in the company, valued at $58,665,728. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jayshree Ullal sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $347.00, for a total transaction of $8,675,000.00. Following the transaction, the chief executive officer now owns 1,600,800 shares of the company’s stock, valued at approximately $555,477,600. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,989 shares of company stock valued at $37,891,416. 3.54% of the stock is owned by company insiders.

Arista Networks Trading Up 1.2 %

Shares of NYSE:ANET opened at $359.76 on Friday. The company has a market capitalization of $113.02 billion, a PE ratio of 50.11, a P/E/G ratio of 2.70 and a beta of 1.07. Arista Networks, Inc. has a 12-month low of $168.25 and a 12-month high of $376.50. The business’s fifty day simple moving average is $341.07 and its 200-day simple moving average is $313.64.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $1.66 billion. During the same quarter last year, the company earned $1.41 earnings per share. The company’s quarterly revenue was up 15.9% on a year-over-year basis. Research analysts predict that Arista Networks, Inc. will post 7.38 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ANET shares. Evercore ISI reiterated an “outperform” rating and set a $400.00 price target on shares of Arista Networks in a report on Friday. Piper Sandler increased their price target on Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. UBS Group boosted their price objective on Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. KeyCorp increased their target price on Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Finally, Needham & Company LLC reissued a “buy” rating and set a $375.00 target price on shares of Arista Networks in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.