Strategic Blueprint LLC Takes $266,000 Position in Arista Networks, Inc. (NYSE:ANET)

Strategic Blueprint LLC purchased a new position in Arista Networks, Inc. (NYSE:ANET) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 693 shares of the technology company’s stock, valued at approximately $266,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norden Group LLC bought a new position in Arista Networks during the 1st quarter valued at about $1,024,000. J.W. Cole Advisors Inc. bought a new stake in shares of Arista Networks during the 1st quarter valued at $312,000. Mirae Asset Global Investments Co. Ltd. increased its position in Arista Networks by 42.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,104 shares of the technology company’s stock worth $24,968,000 after buying an additional 25,795 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Arista Networks by 25.9% in the first quarter. Janney Montgomery Scott LLC now owns 42,089 shares of the technology company’s stock worth $12,205,000 after buying an additional 8,656 shares during the period. Finally, Resonant Capital Advisors LLC purchased a new position in shares of Arista Networks during the 1st quarter valued at about $242,000. Institutional investors own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of recent analyst reports. Barclays raised their target price on shares of Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. KeyCorp upped their target price on shares of Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. UBS Group raised their price target on Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Rosenblatt Securities increased their price objective on shares of Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Finally, Evercore ISI boosted their target price on shares of Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $373.88.

Insiders Place Their Bets

In other news, Director Kelly Bodnar Battles sold 216 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was 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 of the company’s stock, valued at approximately $883,278.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Kelly Bodnar Battles sold 216 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $324.02, for a total value of $69,988.32. Following the transaction, the director now directly owns 2,726 shares in the company, valued at approximately $883,278.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jayshree Ullal sold 17,752 shares of Arista Networks stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $354.29, for a total transaction of $6,289,356.08. Following the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at $6,264,201.49. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,522 shares of company stock valued at $20,099,338 over the last 90 days. Insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

NYSE:ANET opened at $394.23 on Friday. The firm has a market capitalization of $123.85 billion, a PE ratio of 51.13, a PEG ratio of 3.49 and a beta of 1.07. The stock’s fifty day moving average is $376.13 and its 200 day moving average is $338.73. Arista Networks, Inc. has a fifty-two week low of $203.19 and a fifty-two week high of $422.73.

Arista Networks (NYSE:ANET) last released its earnings results 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. 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 quarter last year, the business earned $1.41 EPS. The business’s revenue was up 15.9% on a year-over-year basis. Equities analysts forecast that Arista Networks, Inc. will post 7.42 EPS for the current year.

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.