Mount Yale Investment Advisors LLC Increases Holdings in Arista Networks, Inc. (NYSE:ANET)

Mount Yale Investment Advisors LLC boosted its position in Arista Networks, Inc. (NYSE:ANET) by 2.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,933 shares of the technology company’s stock after purchasing an additional 42 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Arista Networks were worth $677,000 as of its most recent SEC filing.

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

Insider Activity at Arista Networks

In other Arista Networks news, Director Kelly Bodnar Battles sold 372 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $356.74, for a total transaction of $132,707.28. Following the completion of the sale, the director now directly owns 2,565 shares in the company, valued at $915,038.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Jayshree Ullal sold 832 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $318.12, for a total transaction of $264,675.84. Following the sale, the chief executive officer now directly owns 17,681 shares in the company, valued at approximately $5,624,679.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kelly Bodnar Battles sold 372 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $356.74, for a total value of $132,707.28. Following the transaction, the director now directly owns 2,565 shares in the company, valued at $915,038.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 107,361 shares of company stock worth $38,024,123. Company insiders own 3.54% of the company’s stock.

Arista Networks Stock Up 0.3 %

ANET stock opened at $385.57 on Tuesday. The company has a market cap of $120.82 billion, a price-to-earnings ratio of 53.70, a PEG ratio of 2.70 and a beta of 1.07. The business has a fifty day simple moving average of $342.05 and a 200-day simple moving average of $317.63. Arista Networks, Inc. has a 52 week low of $168.25 and a 52 week high of $390.00.

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ANET shares. Rosenblatt Securities raised their price objective on shares of Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research note on Wednesday, July 31st. KeyCorp raised their price target on Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Citigroup upped their price objective on Arista Networks from $330.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. UBS Group lifted their price objective on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and an average target price of $358.63.

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.