Arista Networks, Inc. (NYSE:ANET) Stock Holdings Increased by Axiom Advisory LLC

Axiom Advisory LLC raised its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 1.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,304 shares of the technology company’s stock after buying an additional 36 shares during the period. Axiom Advisory LLC’s holdings in Arista Networks were worth $884,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Chesley Taft & Associates LLC bought a new stake in shares of Arista Networks during the 3rd quarter worth $2,275,000. Kesler Norman & Wride LLC purchased a new stake in shares of Arista Networks during the third quarter valued at $1,544,000. Chapin Davis Inc. acquired a new position in shares of Arista Networks in the 3rd quarter valued at $2,106,000. Salvus Wealth Management LLC increased its stake in Arista Networks by 2.0% in the 3rd quarter. Salvus Wealth Management LLC now owns 6,229 shares of the technology company’s stock worth $2,391,000 after purchasing an additional 125 shares in the last quarter. Finally, Parisi Gray Wealth Management raised its holdings in Arista Networks by 27.7% during the 3rd quarter. Parisi Gray Wealth Management now owns 734 shares of the technology company’s stock worth $282,000 after buying an additional 159 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Performance

Shares of ANET opened at $400.15 on Wednesday. The firm has a market cap of $125.39 billion, a PE ratio of 55.73, a PEG ratio of 3.04 and a beta of 1.07. The firm’s 50 day moving average price is $352.98 and its 200 day moving average price is $324.87. Arista Networks, Inc. has a twelve month low of $168.25 and a twelve month high of $402.00.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on ANET. Rosenblatt Securities raised their target price on shares of Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price objective on shares of Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Evercore ISI boosted their target price on shares of Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Citigroup raised their target price on Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, UBS Group upped their price target on Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $369.50.

Insiders Place Their Bets

In related news, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $342.28, for a total value of $684,560.00. Following the transaction, the director now directly owns 50,946 shares of the company’s stock, valued at approximately $17,437,796.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Jayshree Ullal sold 17,752 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $354.29, for a total value of $6,289,356.08. Following the sale, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at approximately $6,264,201.49. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $342.28, for a total value of $684,560.00. Following the completion of the transaction, the director now owns 50,946 shares in the company, valued at $17,437,796.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,197 shares of company stock valued at $13,433,094 over the last quarter. Insiders own 3.54% of the company’s stock.

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.