Purus Wealth Management LLC Has $3.04 Million Holdings in Arista Networks, Inc. (NYSE:ANET)

Purus Wealth Management LLC increased its holdings in Arista Networks, Inc. (NYSE:ANET) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,678 shares of the technology company’s stock after acquiring an additional 61 shares during the period. Arista Networks comprises 1.3% of Purus Wealth Management LLC’s investment portfolio, making the stock its 19th biggest holding. Purus Wealth Management LLC’s holdings in Arista Networks were worth $3,041,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GQG Partners LLC bought a new stake in Arista Networks in the 1st quarter worth about $881,848,000. Swedbank AB bought a new stake in Arista Networks in the 1st quarter worth about $521,767,000. Vanguard Group Inc. grew its position in Arista Networks by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock worth $6,946,338,000 after purchasing an additional 1,596,040 shares in the last quarter. TD Asset Management Inc grew its position in Arista Networks by 145.5% in the 4th quarter. TD Asset Management Inc now owns 794,935 shares of the technology company’s stock worth $187,215,000 after purchasing an additional 471,099 shares in the last quarter. Finally, Schroder Investment Management Group grew its position in Arista Networks by 29.9% in the 4th quarter. Schroder Investment Management Group now owns 1,635,783 shares of the technology company’s stock worth $385,243,000 after purchasing an additional 376,478 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Trading Up 0.5 %

ANET opened at $360.97 on Wednesday. The company has a 50 day moving average of $340.74 and a 200 day moving average of $315.02. The company has a market cap of $113.11 billion, a PE ratio of 50.27, a price-to-earnings-growth ratio of 2.70 and a beta of 1.07. Arista Networks, Inc. has a 12 month low of $168.25 and a 12 month high of $376.50.

Arista Networks (NYSE:ANET) last posted 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 business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the prior year, the company posted $1.41 EPS. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. Research analysts forecast that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

ANET has been the subject of a number of recent analyst reports. Rosenblatt Securities upped their price objective on shares of Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. upped their price objective on shares of Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Jefferies Financial Group increased their target price on shares of Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. UBS Group increased their target price on shares of Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Finally, Evercore ISI reissued an “outperform” rating and set a $400.00 target price on shares of Arista Networks in a research report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $358.63.

Insiders Place Their Bets

In other Arista Networks news, SVP Kenneth Duda sold 1,689 shares of the stock in a transaction that occurred on 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 directly owns 182,600 shares in the company, valued at approximately $58,665,728. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Arista Networks news, SVP Kenneth Duda sold 1,689 shares of the stock in a transaction that occurred on 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 directly owns 182,600 shares in the company, valued at approximately $58,665,728. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jayshree Ullal sold 25,000 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $347.00, for a total transaction of $8,675,000.00. Following the sale, the chief executive officer now owns 1,600,800 shares in the company, valued at approximately $555,477,600. The disclosure for this sale can be found here. Insiders have sold 106,989 shares of company stock worth $37,891,416 in the last three months. 3.54% of the stock is currently owned by corporate insiders.

About Arista Networks

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.