Gratus Wealth Advisors LLC Grows Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Gratus Wealth Advisors LLC grew its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 54.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,295 shares of the technology company’s stock after acquiring an additional 1,157 shares during the period. Gratus Wealth Advisors LLC’s holdings in Arista Networks were worth $1,293,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ANET. Benjamin Edwards Inc. purchased a new position in shares of Arista Networks during the 1st quarter valued at $26,000. Beacon Capital Management LLC increased its stake in Arista Networks by 500.0% in the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after acquiring an additional 65 shares during the last quarter. LGT Financial Advisors LLC purchased a new stake in shares of Arista Networks in the 2nd quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. boosted its position in shares of Arista Networks by 872.7% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after acquiring an additional 96 shares during the last quarter. Finally, Byrne Asset Management LLC purchased a new position in shares of Arista Networks during the second quarter worth about $33,000. 82.47% of the stock is owned by institutional investors.

Insider Transactions at Arista Networks

In related news, CEO Jayshree Ullal sold 836 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $386.68, for a total transaction of $323,264.48. Following the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at $6,836,889.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Arista Networks news, SVP Marc Taxay sold 4,497 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $336.32, for a total transaction of $1,512,431.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jayshree Ullal sold 836 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $386.68, for a total transaction of $323,264.48. Following the completion of the transaction, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $6,836,889.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,197 shares of company stock valued at $13,433,094 in the last three months. 3.54% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ANET has been the subject of a number of research reports. Needham & Company LLC reissued a “buy” rating and issued a $375.00 price target on shares of Arista Networks in a research note on Wednesday, July 31st. Piper Sandler increased their price objective on Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Wells Fargo & Company boosted their target price on Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Rosenblatt Securities increased their price target on shares of Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st. Finally, Erste Group Bank reissued a “buy” rating on shares of Arista Networks in a research note on Friday, June 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and an average target price of $369.50.

Arista Networks Trading Up 1.9 %

Shares of ANET opened at $400.15 on Wednesday. Arista Networks, Inc. has a 1-year low of $168.25 and a 1-year high of $402.00. The firm has a market capitalization of $125.39 billion, a price-to-earnings 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 (NYSE:ANET) last announced its earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the company earned $1.41 EPS. The business’s revenue was up 15.9% compared to the same quarter last year. On average, research analysts forecast that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

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.