Arista Networks, Inc. (NYSE:ANET) Shares Bought by Circle Wealth Management LLC

Circle Wealth Management LLC raised its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 27.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,343 shares of the technology company’s stock after buying an additional 1,779 shares during the period. Circle Wealth Management LLC’s holdings in Arista Networks were worth $2,924,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. FCG Investment Co raised its holdings in Arista Networks by 2.3% during the 2nd quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock worth $445,000 after buying an additional 29 shares during the period. Old Port Advisors raised its holdings in shares of Arista Networks by 3.5% during the first quarter. Old Port Advisors now owns 955 shares of the technology company’s stock valued at $277,000 after acquiring an additional 32 shares during the period. Fortitude Family Office LLC lifted its position in shares of Arista Networks by 33.3% in the 2nd quarter. Fortitude Family Office LLC now owns 132 shares of the technology company’s stock valued at $46,000 after acquiring an additional 33 shares in the last quarter. Resonant Capital Advisors LLC boosted its stake in Arista Networks by 4.1% in the 2nd quarter. Resonant Capital Advisors LLC now owns 870 shares of the technology company’s stock worth $305,000 after purchasing an additional 34 shares during the period. Finally, Modera Wealth Management LLC grew its position in Arista Networks by 2.1% during the 2nd quarter. Modera Wealth Management LLC now owns 1,782 shares of the technology company’s stock worth $625,000 after purchasing an additional 37 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Ratings Changes

ANET has been the subject of a number of research analyst reports. Jefferies Financial Group increased their target price on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Wells Fargo & Company increased their price objective on Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Morgan Stanley raised their price objective on Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. KeyCorp upped their target price on Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Finally, Piper Sandler raised their price target on shares of Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $358.63.

Arista Networks Trading Up 1.4 %

ANET stock opened at $384.46 on Friday. The firm has a market cap of $120.48 billion, a PE ratio of 53.55, a PEG ratio of 2.70 and a beta of 1.07. Arista Networks, Inc. has a 1 year low of $168.25 and a 1 year high of $385.50. The company has a fifty day simple moving average of $341.55 and a 200 day simple moving average of $316.71.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. The company 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 business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.41 earnings per share. As a group, analysts forecast that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jayshree Ullal sold 25,000 shares of Arista Networks stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $347.00, for a total value of $8,675,000.00. Following the transaction, the chief executive officer now owns 1,600,800 shares of the company’s stock, valued at $555,477,600. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Jayshree Ullal sold 25,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $347.00, for a total value of $8,675,000.00. Following the sale, the chief executive officer now directly owns 1,600,800 shares of the company’s stock, valued at $555,477,600. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kelly Bodnar Battles sold 372 shares of Arista Networks stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $356.74, for a total value of $132,707.28. Following the completion of the transaction, the director now owns 2,565 shares in the company, valued at $915,038.10. The disclosure for this sale can be found here. Insiders sold 107,361 shares of company stock valued at $38,024,123 over the last 90 days. 3.54% of the stock is currently owned by company insiders.

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.