IFM Investors Pty Ltd Has $20.59 Million Holdings in Arista Networks, Inc. (NYSE:ANET)

IFM Investors Pty Ltd lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 1.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,634 shares of the technology company’s stock after acquiring an additional 523 shares during the quarter. IFM Investors Pty Ltd’s holdings in Arista Networks were worth $20,586,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Beacon Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 65 shares during the period. LGT Financial Advisors LLC bought a new stake in shares of Arista Networks in the 2nd quarter valued at about $27,000. Byrne Asset Management LLC acquired a new stake in shares of Arista Networks in the second quarter valued at about $33,000. Sugarloaf Wealth Management LLC acquired a new position in shares of Arista Networks in the second quarter worth approximately $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Arista Networks in the second quarter valued at approximately $35,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Up 0.5 %

Arista Networks stock traded up $2.09 during midday trading on Thursday, hitting $396.13. 485,415 shares of the stock were exchanged, compared to its average volume of 2,222,449. Arista Networks, Inc. has a 52-week low of $168.25 and a 52-week high of $422.73. The business’s 50-day moving average price is $370.52 and its 200-day moving average price is $333.77. The stock has a market capitalization of $124.13 billion, a price-to-earnings ratio of 55.07, a price-to-earnings-growth ratio of 3.21 and a beta of 1.07.

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, beating the consensus estimate of $1.72 by $0.38. The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. Arista Networks’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.41 earnings per share. On average, sell-side analysts predict that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Insider Transactions at Arista Networks

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the sale, the senior vice president now owns 3,244 shares in the company, valued at $1,280,374.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $394.69, for a total value of $7,893,800.00. Following the completion of the sale, the senior vice president now owns 3,244 shares in the company, valued at $1,280,374.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kelly Bodnar Battles sold 216 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $324.02, for a total transaction of $69,988.32. Following the completion of the sale, the director now directly owns 2,726 shares of the company’s stock, valued at $883,278.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,197 shares of company stock worth $21,326,894 over the last quarter. Corporate insiders own 3.54% of the company’s stock.

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $375.00 price target on shares of Arista Networks in a research report on Wednesday, July 31st. Wells Fargo & Company upped their target price on Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. The Goldman Sachs Group lifted their target price on Arista Networks from $390.00 to $430.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. UBS Group boosted their price target on Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Finally, Jefferies Financial Group raised their price objective on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.