560 Shares in Arista Networks, Inc. (NYSE:ANET) Purchased by Court Place Advisors LLC

Court Place Advisors LLC purchased a new stake in shares of Arista Networks, Inc. (NYSE:ANET) in the third quarter, according to its most recent filing with the SEC. The firm purchased 560 shares of the technology company’s stock, valued at approximately $215,000.

Other institutional investors have also modified their holdings of the company. Beacon Capital Management LLC raised its position in Arista Networks by 500.0% during the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after acquiring an additional 65 shares during the last quarter. LGT Financial Advisors LLC purchased a new stake in Arista Networks in the 2nd quarter valued at approximately $27,000. Byrne Asset Management LLC purchased a new position in Arista Networks during the second quarter worth $33,000. Sugarloaf Wealth Management LLC acquired a new position in shares of Arista Networks in the second quarter worth $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Arista Networks in the second quarter valued at $35,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Activity

In related news, SVP Marc Taxay sold 628 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $350.50, for a total value of $220,114.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Marc Taxay sold 628 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $350.50, for a total value of $220,114.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kelly Bodnar Battles sold 216 shares of the firm’s stock in a transaction 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 directly 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 disclosure for this sale can be found here. Insiders sold 58,570 shares of company stock worth $21,474,782 over the last ninety days. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Stock Up 0.9 %

Shares of ANET stock traded up $3.54 during mid-day trading on Friday, reaching $399.24. The company’s stock had a trading volume of 222,331 shares, compared to its average volume of 2,215,819. The company’s 50 day simple moving average is $370.52 and its 200-day simple moving average is $333.77. Arista Networks, Inc. has a 12-month low of $168.25 and a 12-month high of $422.73. The firm has a market capitalization of $125.11 billion, a PE ratio of 55.09, a price-to-earnings-growth ratio of 3.21 and a beta of 1.07.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 EPS 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 firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period in the previous year, the company posted $1.41 EPS. Arista Networks’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, research analysts anticipate that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Morgan Stanley lifted their price objective on Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. Piper Sandler raised their target price on shares of Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Citigroup boosted their price target on Arista Networks from $385.00 to $460.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Evercore ISI raised their price objective on Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, Rosenblatt Securities lifted their price objective on Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $369.50.

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.