Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Marshall Wace LLP

Marshall Wace LLP boosted its position in Arista Networks, Inc. (NYSE:ANET) by 56.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 508,230 shares of the technology company’s stock after acquiring an additional 183,230 shares during the quarter. Marshall Wace LLP owned 0.16% of Arista Networks worth $178,124,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. acquired a new position in Arista Networks in the first quarter valued at $26,000. Beacon Capital Management LLC raised its position in Arista Networks by 500.0% in the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after purchasing an additional 65 shares during the period. LGT Financial Advisors LLC purchased a new position in Arista Networks in the second quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. raised its position in Arista Networks by 872.7% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after purchasing an additional 96 shares during the period. Finally, Byrne Asset Management LLC purchased a new position in Arista Networks in the second quarter valued at about $33,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Trading Up 0.3 %

Shares of NYSE ANET opened at $385.57 on Tuesday. The stock has a 50 day simple moving average of $342.05 and a 200-day simple moving average of $317.63. The company has a market cap of $120.82 billion, a PE ratio of 53.70, a P/E/G 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 $390.00.

Arista Networks (NYSE:ANET) last released its 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. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.41 earnings per share. Sell-side analysts forecast that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arista Networks news, Director Kelly Bodnar Battles sold 372 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $356.74, for a total value of $132,707.28. Following the completion of the sale, the director now directly owns 2,565 shares in the company, valued at $915,038.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Arista Networks news, Director Kelly Bodnar Battles sold 372 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $356.74, for a total value of $132,707.28. Following the transaction, the director now owns 2,565 shares of the company’s stock, valued at $915,038.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Marc Taxay sold 624 shares of the company’s stock in a transaction 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 sold 107,361 shares of company stock worth $38,024,123 over the last ninety days. Company insiders own 3.54% of the company’s stock.

Analyst Upgrades and Downgrades

ANET has been the topic of a number of analyst reports. KeyCorp lifted their target price on Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Citigroup lifted their target price on Arista Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Bank of America lifted their target price on Arista Networks from $320.00 to $380.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. JPMorgan Chase & Co. boosted their price objective on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Evercore ISI reissued an “outperform” rating and issued a $400.00 price objective on shares of Arista Networks in a report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and a consensus price target of $358.63.

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.