EverSource Wealth Advisors LLC Acquires 387 Shares of Arista Networks, Inc. (NYSE:ANET)

EverSource Wealth Advisors LLC lifted its holdings in Arista Networks, Inc. (NYSE:ANET) by 34.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,524 shares of the technology company’s stock after purchasing an additional 387 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Arista Networks were worth $528,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. FCG Investment Co boosted its position in shares of Arista Networks by 2.3% during the second quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock worth $445,000 after buying an additional 29 shares during the period. Old Port Advisors grew its stake in shares of Arista Networks by 3.5% during the 1st quarter. Old Port Advisors now owns 955 shares of the technology company’s stock worth $277,000 after acquiring an additional 32 shares in the last quarter. Fortitude Family Office LLC raised its holdings in shares of Arista Networks by 33.3% in the second quarter. Fortitude Family Office LLC now owns 132 shares of the technology company’s stock valued at $46,000 after purchasing an additional 33 shares during the last quarter. Resonant Capital Advisors LLC boosted its holdings in Arista Networks by 4.1% during the second quarter. Resonant Capital Advisors LLC now owns 870 shares of the technology company’s stock worth $305,000 after purchasing an additional 34 shares during the last quarter. Finally, Modera Wealth Management LLC grew its position in Arista Networks by 2.1% in the second quarter. Modera Wealth Management LLC now owns 1,782 shares of the technology company’s stock valued at $625,000 after purchasing an additional 37 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Insider Buying and Selling at Arista Networks

In related news, CEO Jayshree Ullal sold 25,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $357.00, for a total value of $8,925,000.00. Following the transaction, the chief executive officer now owns 1,595,800 shares in the company, valued at $569,700,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Jayshree Ullal sold 25,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $357.00, for a total transaction of $8,925,000.00. Following the sale, the chief executive officer now owns 1,595,800 shares in the company, valued at approximately $569,700,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $352.93, for a total transaction of $705,860.00. Following the transaction, the director now owns 52,946 shares of the company’s stock, valued at $18,686,231.78. 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. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

ANET stock opened at $385.57 on Tuesday. Arista Networks, Inc. has a 52 week low of $168.25 and a 52 week high of $390.00. The company has a market capitalization of $120.82 billion, a PE ratio of 53.70, a price-to-earnings-growth ratio of 2.70 and a beta of 1.07. The company’s 50-day simple moving average is $342.05 and its 200 day simple moving average is $317.63.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Rosenblatt Securities increased their price objective on shares of Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research note on Wednesday, July 31st. Jefferies Financial Group raised their price target on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. UBS Group upped their price objective on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Wells Fargo & Company boosted their target price on shares of Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, Morgan Stanley increased their price target on shares of Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and a consensus target price 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.