620 Shares in Arista Networks, Inc. (NYSE:ANET) Bought by Waterloo Capital L.P.

Waterloo Capital L.P. purchased a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 620 shares of the technology company’s stock, valued at approximately $217,000.

Other large investors have also recently bought and sold shares of the company. Beacon Capital Management LLC increased its stake in shares of Arista Networks by 500.0% in the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after acquiring an additional 65 shares in the last quarter. LGT Financial Advisors LLC bought a new stake in Arista Networks in the second quarter valued at $27,000. Benjamin Edwards Inc. acquired a new position in shares of Arista Networks during the first quarter valued at about $26,000. Byrne Asset Management LLC bought a new position in shares of Arista Networks during the 2nd quarter worth about $33,000. Finally, Sugarloaf Wealth Management LLC acquired a new stake in shares of Arista Networks in the 2nd quarter valued at about $35,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Trading Up 4.9 %

ANET stock opened at $379.36 on Friday. The stock has a market cap of $118.88 billion, a P/E ratio of 52.84, a P/E/G ratio of 2.70 and a beta of 1.07. The stock’s fifty day simple moving average is $341.09 and its two-hundred day simple moving average is $315.79. Arista Networks, Inc. has a 1-year low of $168.25 and a 1-year high of $380.54.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the firm earned $1.41 EPS. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, analysts forecast that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $370.70, for a total value of $7,414,000.00. Following the transaction, the senior vice president now owns 3,244 shares in the company, valued at $1,202,550.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Jayshree Ullal sold 25,000 shares of Arista Networks stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $357.00, for a total value of $8,925,000.00. Following the completion of the transaction, the chief executive officer now owns 1,595,800 shares in the company, valued at $569,700,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $370.70, for a total transaction of $7,414,000.00. Following the sale, the senior vice president now owns 3,244 shares in the company, valued at $1,202,550.80. The disclosure for this sale can be found here. Insiders sold 107,361 shares of company stock valued at $38,024,123 in the last three months. Company insiders own 3.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ANET shares. JPMorgan Chase & Co. increased their price target on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Erste Group Bank reissued a “buy” rating on shares of Arista Networks in a research report on Friday, June 14th. Piper Sandler upped their price objective on shares of Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. UBS Group raised their price objective on shares of 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 upped their target price on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $358.63.

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.