Creative Planning Buys 12,612 Shares of Arista Networks, Inc. (NYSE:ANET)

Creative Planning grew its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 13.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 109,174 shares of the technology company’s stock after buying an additional 12,612 shares during the period. Creative Planning’s holdings in Arista Networks were worth $41,903,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of ANET. Benjamin Edwards Inc. acquired a new position in Arista Networks during the first quarter valued at approximately $26,000. Beacon Capital Management LLC grew its holdings in shares of Arista Networks by 500.0% in the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after buying an additional 65 shares during the period. LGT Financial Advisors LLC bought a new stake in shares of Arista Networks in the 2nd quarter valued at $27,000. Financial Synergies Wealth Advisors Inc. raised its stake in Arista Networks by 872.7% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after buying an additional 96 shares during the period. Finally, Byrne Asset Management LLC bought a new position in Arista Networks during the second quarter worth about $33,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ANET. Wells Fargo & Company raised their price target on Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. UBS Group raised their target price on shares of Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. KeyCorp upped their price target on shares of Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Jefferies Financial Group raised their price objective on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $375.00 target price on shares of Arista Networks in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $369.50.

Insider Transactions at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 832 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $318.12, for a total transaction of $264,675.84. Following the completion of the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at $5,624,679.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Arista Networks news, CEO Jayshree Ullal sold 832 shares of the stock in a transaction dated Friday, August 2nd. The shares were 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 of the company’s stock, valued at $5,624,679.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Marc Taxay sold 628 shares of the business’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 disclosure for this sale can be found here. In the last three months, insiders sold 58,197 shares of company stock worth $21,326,894. 3.54% of the stock is owned by company insiders.

Arista Networks Trading Down 1.3 %

NYSE ANET opened at $402.00 on Friday. The firm’s fifty day moving average price is $367.25 and its two-hundred day moving average price is $331.59. Arista Networks, Inc. has a 1 year low of $168.25 and a 1 year high of $422.73. The firm has a market capitalization of $125.97 billion, a P/E ratio of 55.99, a price-to-earnings-growth ratio of 3.21 and a beta of 1.07.

Arista Networks (NYSE:ANET) last issued its earnings results 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. The business had revenue of $1.69 billion during 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 was up 15.9% on a year-over-year basis. During the same period last year, the business posted $1.41 EPS. On average, research analysts anticipate that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

About Arista Networks

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.