613 Shares in Arista Networks, Inc. (NYSE:ANET) Bought by Trust Investment Advisors

Trust Investment Advisors bought a new stake in Arista Networks, Inc. (NYSE:ANET) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 613 shares of the technology company’s stock, valued at approximately $215,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ieq Capital LLC raised its position in shares of Arista Networks by 8.7% during the second quarter. Ieq Capital LLC now owns 34,019 shares of the technology company’s stock worth $11,923,000 after purchasing an additional 2,719 shares during the period. Brighton Jones LLC increased its stake in Arista Networks by 8.8% during the 2nd quarter. Brighton Jones LLC now owns 1,650 shares of the technology company’s stock worth $578,000 after purchasing an additional 134 shares in the last quarter. Sienna Gestion acquired a new stake in Arista Networks during the 2nd quarter worth approximately $6,186,000. Hsbc Holdings PLC lifted its stake in Arista Networks by 28.8% in the second quarter. Hsbc Holdings PLC now owns 719,605 shares of the technology company’s stock valued at $252,150,000 after buying an additional 160,987 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co lifted its stake in Arista Networks by 0.9% in the second quarter. Elo Mutual Pension Insurance Co now owns 24,384 shares of the technology company’s stock valued at $8,546,000 after buying an additional 222 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ANET has been the topic of a number of research analyst reports. Rosenblatt Securities raised their price objective on shares of Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. KeyCorp increased their target price on Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Piper Sandler boosted their price target on Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a report on Monday, July 15th. UBS Group increased their price objective on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Finally, Evercore ISI reissued an “outperform” rating and issued a $400.00 target price on shares of Arista Networks in a research report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $358.63.

Arista Networks Stock Performance

NYSE ANET opened at $379.36 on Friday. The stock has a market cap of $118.88 billion, a PE ratio of 52.84, a P/E/G ratio of 2.70 and a beta of 1.07. The firm has a 50-day moving average of $341.09 and a 200-day moving average of $315.79. Arista Networks, Inc. has a 52-week low of $168.25 and a 52-week high of $380.54.

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

Insiders Place Their Bets

In other Arista Networks news, Director Kelly Bodnar Battles sold 216 shares of the 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 transaction, the director now owns 2,726 shares in the company, valued at approximately $883,278.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Jayshree Ullal sold 25,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $357.00, for a total transaction of $8,925,000.00. Following the completion of the sale, the chief executive officer now owns 1,595,800 shares of the company’s stock, valued at $569,700,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kelly Bodnar Battles sold 216 shares of the 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 sale, the director now owns 2,726 shares in the company, valued at $883,278.52. The disclosure for this sale can be found here. Insiders sold 107,361 shares of company stock worth $38,024,123 in the last quarter. 3.54% of the stock is currently owned by corporate insiders.

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.