Arista Networks, Inc. (NYSE:ANET) Shares Bought by Seeyond

Seeyond boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 0.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,662 shares of the technology company’s stock after purchasing an additional 34 shares during the period. Seeyond’s holdings in Arista Networks were worth $2,776,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Toroso Investments LLC increased its stake in Arista Networks by 12.4% in the 2nd quarter. Toroso Investments LLC now owns 779 shares of the technology company’s stock valued at $282,000 after buying an additional 86 shares during the period. Brown Brothers Harriman & Co. boosted its holdings in Arista Networks by 265.6% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 1,912 shares of the technology company’s stock valued at $693,000 after purchasing an additional 1,389 shares during the period. Dai Ichi Life Insurance Company Ltd bought a new position in shares of Arista Networks during the 2nd quarter worth about $238,000. Franklin Resources Inc. lifted its holdings in shares of Arista Networks by 17.1% during the 2nd quarter. Franklin Resources Inc. now owns 12,451 shares of the technology company’s stock worth $4,511,000 after acquiring an additional 1,821 shares during the period. Finally, Fort L.P. increased its position in shares of Arista Networks by 18.3% during the 2nd quarter. Fort L.P. now owns 3,672 shares of the technology company’s stock worth $1,330,000 after purchasing an additional 569 shares in the last quarter. 61.51% of the stock is owned by institutional investors and hedge funds.

ANET has been the topic of a number of research reports. Citigroup lifted their price target on shares of Arista Networks from $325.00 to $400.00 and gave the company a “neutral” rating in a research note on Tuesday, August 3rd. Credit Suisse Group boosted their target price on shares of Arista Networks from $362.00 to $410.00 and gave the stock an “outperform” rating in a report on Tuesday, August 3rd. Wells Fargo & Company boosted their target price on shares of Arista Networks from $340.00 to $375.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 3rd. Cowen boosted their target price on shares of Arista Networks from $385.00 to $433.00 and gave the stock an “outperform” rating in a report on Tuesday, August 3rd. Finally, JMP Securities boosted their target price on shares of Arista Networks from $340.00 to $415.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 27th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $381.33.

Shares of ANET stock traded up $4.85 on Thursday, reaching $388.74. The company had a trading volume of 568 shares, compared to its average volume of 476,005. The stock has a market capitalization of $29.82 billion, a PE ratio of 41.86, a price-to-earnings-growth ratio of 3.02 and a beta of 1.15. Arista Networks, Inc. has a one year low of $200.35 and a one year high of $384.27. The business’s 50-day moving average is $363.11 and its 200 day moving average is $350.17.

Arista Networks (NYSE:ANET) last posted its earnings results on Sunday, August 1st. The technology company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.18. The firm had revenue of $707.30 million during the quarter, compared to analysts’ expectations of $688.89 million. Arista Networks had a net margin of 27.72% and a return on equity of 20.92%. The business’s revenue for the quarter was up 30.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.11 earnings per share. On average, sell-side analysts forecast that Arista Networks, Inc. will post 9.04 earnings per share for the current year.

In other news, SVP Marc Taxay sold 498 shares of the company’s stock in a transaction that occurred on Monday, August 2nd. The stock was sold at an average price of $381.00, for a total value of $189,738.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Andreas Bechtolsheim sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 24th. The shares were sold at an average price of $374.35, for a total value of $9,358,750.00. The disclosure for this sale can be found here. Insiders sold 217,414 shares of company stock valued at $80,215,418 in the last ninety days. 22.01% of the stock is currently owned by insiders.

Arista Networks Company Profile

Arista Networks, Inc engages in the development, marketing, and sale of cloud networking solutions. Its cloud networking solutions consist of Extensible Operating System(EOS) a set of network applications and Ethernet switching, and routing platforms. The company was founded by Andreas Bechtolsheim, David Cheriton, and Kenneth Duda in October 2004 and is headquartered in Santa Clara, CA.

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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