Kesler Norman & Wride LLC Invests $1.54 Million in Arista Networks, Inc. (NYSE:ANET)

Kesler Norman & Wride LLC purchased a new stake in shares of Arista Networks, Inc. (NYSE:ANET) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,022 shares of the technology company’s stock, valued at approximately $1,544,000.

Several other institutional investors have also added to or reduced their stakes in the company. Beacon Capital Management LLC grew its stake in shares of Arista Networks by 500.0% in the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after purchasing an additional 65 shares during the last quarter. LGT Financial Advisors LLC bought a new position in Arista Networks in the 2nd quarter worth $27,000. Benjamin Edwards Inc. purchased a new stake in shares of Arista Networks in the 1st quarter worth about $26,000. Byrne Asset Management LLC bought a new stake in shares of Arista Networks during the 2nd quarter valued at about $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Arista Networks during the second quarter valued at about $35,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

ANET has been the topic of a number of research analyst reports. Morgan Stanley upped their target price on Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Evercore ISI boosted their target price on Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. KeyCorp raised their price target on Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Citigroup raised their price objective on shares of Arista Networks from $330.00 to $385.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Finally, Bank of America upped their target price on shares of Arista Networks from $320.00 to $380.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $364.81.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 832 shares of Arista Networks stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $318.12, for a total transaction of $264,675.84. Following the transaction, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at $5,624,679.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Marc Taxay sold 628 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $350.50, for a total value of $220,114.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jayshree Ullal sold 832 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $318.12, for a total value of $264,675.84. Following the transaction, the chief executive officer now directly owns 17,681 shares in the company, valued at approximately $5,624,679.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,197 shares of company stock worth $13,433,094. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Trading Down 0.9 %

Shares of ANET opened at $392.54 on Tuesday. The firm has a market cap of $123.01 billion, a PE ratio of 54.67, a P/E/G ratio of 3.04 and a beta of 1.07. The stock has a fifty day moving average price of $351.55 and a 200-day moving average price of $324.25. Arista Networks, Inc. has a 12 month low of $168.25 and a 12 month high of $399.48.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data 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. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the firm posted $1.41 EPS. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, research analysts forecast that Arista Networks, Inc. will post 7.38 EPS for the current year.

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.