Kowal Investment Group LLC Purchases 558 Shares of Arista Networks, Inc. (NYSE:ANET)

Kowal Investment Group LLC lifted its position in Arista Networks, Inc. (NYSE:ANET) by 68.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,373 shares of the technology company’s stock after buying an additional 558 shares during the quarter. Kowal Investment Group LLC’s holdings in Arista Networks were worth $481,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. 9258 Wealth Management LLC acquired a new stake in Arista Networks in the 4th quarter worth approximately $240,000. Brown Advisory Inc. acquired a new stake in Arista Networks in the 4th quarter worth approximately $220,000. Gladstone Institutional Advisory LLC acquired a new stake in Arista Networks in the 4th quarter worth approximately $267,000. D.A. Davidson & CO. lifted its holdings in Arista Networks by 2.6% in the 4th quarter. D.A. Davidson & CO. now owns 8,234 shares of the technology company’s stock worth $1,939,000 after purchasing an additional 211 shares during the last quarter. Finally, CreativeOne Wealth LLC acquired a new stake in Arista Networks in the 4th quarter worth approximately $206,000. Institutional investors own 82.47% of the company’s stock.

Arista Networks Price Performance

ANET opened at $384.46 on Friday. Arista Networks, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $385.50. The firm’s fifty day moving average price is $341.55 and its two-hundred day moving average price is $316.71. The company has a market capitalization of $120.48 billion, a P/E ratio of 53.55, a P/E/G ratio of 2.70 and a beta of 1.07.

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, beating analysts’ consensus estimates of $1.72 by $0.38. The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The business’s revenue was up 15.9% on a year-over-year basis. During the same period last year, the business earned $1.41 earnings per share. On average, equities research analysts expect that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 25,000 shares of Arista Networks stock in a transaction on Monday, July 1st. The stock was sold at an average price of $357.00, for a total transaction of $8,925,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,595,800 shares of the company’s stock, valued at $569,700,600. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, SVP Marc Taxay sold 624 shares of Arista Networks stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $354.71, for a total value of $221,339.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jayshree Ullal sold 25,000 shares of Arista Networks stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $357.00, for a total value of $8,925,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,595,800 shares of the company’s stock, valued at $569,700,600. The disclosure for this sale can be found here. Over the last three months, insiders sold 107,361 shares of company stock valued at $38,024,123. 3.54% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ANET has been the subject of several analyst reports. Erste Group Bank restated a “buy” rating on shares of Arista Networks in a report on Friday, June 14th. Morgan Stanley upped their price target on Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Wells Fargo & Company upped their price target on Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Piper Sandler upped 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. Finally, UBS Group upped their price target on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.