HHM Wealth Advisors LLC Purchases 570 Shares of Arista Networks, Inc. (NYSE:ANET)

HHM Wealth Advisors LLC lifted its position in Arista Networks, Inc. (NYSE:ANET) by 5,700.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 580 shares of the technology company’s stock after purchasing an additional 570 shares during the period. HHM Wealth Advisors LLC’s holdings in Arista Networks were worth $203,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in ANET. Benjamin Edwards Inc. bought a new position in shares of Arista Networks in the first quarter worth approximately $26,000. Beacon Capital Management LLC grew its holdings in shares of Arista Networks by 500.0% in the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after purchasing an additional 65 shares during the last quarter. LGT Financial Advisors LLC bought a new position in shares of Arista Networks in the second quarter worth approximately $27,000. Financial Synergies Wealth Advisors Inc. grew its holdings in shares of Arista Networks by 872.7% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after purchasing an additional 96 shares during the last quarter. Finally, Byrne Asset Management LLC bought a new position in shares of Arista Networks in the second quarter worth approximately $33,000. Institutional investors own 82.47% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on ANET shares. Jefferies Financial Group raised their price target on Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Bank of America raised their price target on Arista Networks from $320.00 to $380.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Barclays raised their price target on Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $375.00 price target on shares of Arista Networks in a research note on Wednesday, July 31st. Finally, KeyCorp raised their price target on Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and a consensus target price of $358.63.

Insider Buying and Selling

In related news, CEO Jayshree Ullal sold 25,000 shares of Arista Networks stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $347.00, for a total value of $8,675,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,600,800 shares in the company, valued at approximately $555,477,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Jayshree Ullal sold 25,000 shares of Arista Networks stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $347.00, for a total value of $8,675,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,600,800 shares in the company, valued at approximately $555,477,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Kenneth Duda sold 1,689 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $321.28, for a total value of $542,641.92. Following the sale, the senior vice president now owns 182,600 shares of the company’s stock, valued at $58,665,728. The disclosure for this sale can be found here. In the last ninety days, insiders sold 107,989 shares of company stock worth $38,219,586. 3.54% of the stock is owned by corporate insiders.

Arista Networks Price Performance

ANET opened at $342.65 on Thursday. The stock has a 50-day moving average price of $341.40 and a 200-day moving average price of $312.45. The firm has a market cap of $107.37 billion, a PE ratio of 47.72, a P/E/G ratio of 2.48 and a beta of 1.07. Arista Networks, Inc. has a 1 year low of $168.25 and a 1 year high of $376.50.

Arista Networks (NYSE:ANET) last posted its quarterly 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 return on equity of 30.50% and a net margin of 39.01%. The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the previous year, the firm earned $1.41 EPS. Arista Networks’s quarterly revenue was up 15.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Arista Networks, Inc. will post 7.38 EPS for the current year.

Arista Networks 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.