Xponance Inc. Boosts Stock Position in Arista Networks, Inc. (NYSE:ANET)

Xponance Inc. raised its position in shares of Arista Networks, Inc. (NYSE:ANET) by 8.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 62,965 shares of the technology company’s stock after buying an additional 4,860 shares during the quarter. Xponance Inc.’s holdings in Arista Networks were worth $22,068,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GQG Partners LLC purchased a new stake in Arista Networks in the first quarter valued at about $881,848,000. Swedbank AB acquired a new stake in Arista Networks in the 1st quarter worth approximately $521,767,000. Vanguard Group Inc. grew its position in Arista Networks by 5.7% during 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 during the last quarter. 1832 Asset Management L.P. grew its position in Arista Networks by 4,160.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 515,700 shares of the technology company’s stock worth $180,743,000 after purchasing an additional 503,597 shares during the last quarter. Finally, TD Asset Management Inc raised its holdings in shares of Arista Networks by 145.5% in the fourth quarter. TD Asset Management Inc now owns 794,935 shares of the technology company’s stock worth $187,215,000 after buying an additional 471,099 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In other news, CEO Jayshree Ullal sold 832 shares of Arista Networks stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $318.12, for a total transaction of $264,675.84. Following the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $5,624,679.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Jayshree Ullal sold 832 shares of Arista Networks stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $318.12, for a total transaction of $264,675.84. Following the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $5,624,679.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kelly Bodnar Battles sold 216 shares of Arista Networks stock in a transaction that occurred 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 sale, the director now directly owns 2,726 shares in the company, valued at approximately $883,278.52. The disclosure for this sale can be found here. Insiders have sold a total of 107,361 shares of company stock worth $38,024,123 in the last ninety days. Insiders own 3.54% of the company’s stock.

Arista Networks Trading Up 1.4 %

ANET stock opened at $384.46 on Monday. Arista Networks, Inc. has a 12-month low of $168.25 and a 12-month high of $385.50. The stock has a market cap of $120.48 billion, a price-to-earnings ratio of 53.55, a PEG ratio of 2.70 and a beta of 1.07. The business’s 50-day moving average is $341.55 and its 200 day moving average is $316.93.

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Piper Sandler upped their target price on Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Jefferies Financial Group raised their target price on Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Rosenblatt Securities raised their target price on Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research note on Wednesday, July 31st. Morgan Stanley raised their target price on Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. Finally, KeyCorp raised their target price 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 given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $358.63.

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.