Trust Investment Advisors Makes New $215,000 Investment in Arista Networks, Inc. (NYSE:ANET)

Trust Investment Advisors acquired a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 613 shares of the technology company’s stock, valued at approximately $215,000.

A number of other large investors have also modified their holdings of the company. Beacon Capital Management LLC raised its position in 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 in the last quarter. LGT Financial Advisors LLC acquired a new position in shares of Arista Networks in the 2nd quarter worth approximately $27,000. Benjamin Edwards Inc. bought a new position in shares of Arista Networks during the 1st quarter worth approximately $26,000. Byrne Asset Management LLC acquired a new stake in Arista Networks in the 2nd quarter valued at $33,000. Finally, Sugarloaf Wealth Management LLC bought a new stake in Arista Networks in the second quarter valued at $35,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Arista Networks news, SVP Marc Taxay sold 624 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $354.71, for a total value of $221,339.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Jayshree Ullal sold 25,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $357.00, for a total transaction of $8,925,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,595,800 shares in the company, valued at approximately $569,700,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Marc Taxay sold 624 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $354.71, for a total transaction of $221,339.04. The disclosure for this sale can be found here. Insiders sold a total of 107,361 shares of company stock valued at $38,024,123 over the last ninety days. Insiders own 3.54% of the company’s stock.

Arista Networks Stock Up 4.9 %

ANET stock opened at $379.36 on Friday. Arista Networks, Inc. has a twelve month low of $168.25 and a twelve month high of $380.54. The company has a market cap of $118.88 billion, a P/E ratio of 52.84, a PEG ratio of 2.70 and a beta of 1.07. The business has a fifty day moving average of $341.09 and a 200-day moving average of $315.79.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.38. The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.41 EPS. As a group, equities research analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ANET. Wells Fargo & Company lifted their price objective on Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Erste Group Bank reissued a “buy” rating on shares of Arista Networks in a report on Friday, June 14th. JPMorgan Chase & Co. upped their price objective on shares of Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Barclays raised their price objective on shares of Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, Morgan Stanley boosted 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Arista Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $358.63.

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.