Brighton Jones LLC Has $578,000 Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Brighton Jones LLC lifted its position in Arista Networks, Inc. (NYSE:ANET) by 8.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,650 shares of the technology company’s stock after buying an additional 134 shares during the quarter. Brighton Jones LLC’s holdings in Arista Networks were worth $578,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings 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 valued at $6,946,338,000 after buying an additional 1,596,040 shares during the last quarter. Capital World Investors lifted its position in Arista Networks by 0.5% in the fourth quarter. Capital World Investors now owns 10,136,348 shares of the technology company’s stock worth $2,387,211,000 after purchasing an additional 55,312 shares during the period. WCM Investment Management LLC boosted its stake in Arista Networks by 0.8% during the first quarter. WCM Investment Management LLC now owns 3,049,416 shares of the technology company’s stock worth $884,270,000 after buying an additional 25,196 shares in the last quarter. GQG Partners LLC bought a new stake in Arista Networks in the 1st quarter valued at $881,848,000. Finally, Swedbank AB acquired a new position in shares of Arista Networks in the 1st quarter valued at $521,767,000. 82.47% of the stock is owned by institutional investors.

Insider Activity

In other Arista Networks news, SVP Marc Taxay sold 624 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $354.71, for a total transaction of $221,339.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Kelly Bodnar Battles sold 216 shares of Arista Networks stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $324.02, for a total value of $69,988.32. Following the sale, the director now owns 2,726 shares of the company’s stock, valued at $883,278.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Marc Taxay sold 624 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $354.71, for a total value of $221,339.04. The disclosure for this sale can be found here. Insiders have sold 107,361 shares of company stock worth $38,024,123 in the last 90 days. Corporate insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ANET shares. Erste Group Bank reissued a “buy” rating on shares of Arista Networks in a research report on Friday, June 14th. Barclays raised their target price on Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Evercore ISI reiterated an “outperform” rating and issued a $400.00 price target on shares of Arista Networks in a research report on Friday, September 13th. Wells Fargo & Company lifted their price objective on Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. upped their target price on shares of Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $358.63.

Arista Networks Stock Up 1.4 %

ANET stock opened at $384.46 on Friday. Arista Networks, Inc. has a twelve month low of $168.25 and a twelve month high of $385.50. The business’s fifty day moving average is $341.55 and its 200-day moving average is $316.71. The company has a market cap of $120.48 billion, a P/E ratio of 53.55, a price-to-earnings-growth ratio of 2.70 and a beta of 1.07.

Arista Networks (NYSE:ANET) last announced its quarterly 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 net margin of 39.01% and a return on equity of 30.50%. The firm’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.41 EPS. Research analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

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.