Frank Rimerman Advisors LLC boosted its holdings in Arista Networks, Inc. (NYSE:ANET – Free Report) by 14,808.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,789 shares of the technology company’s stock after acquiring an additional 1,777 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Arista Networks were worth $627,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Benjamin Edwards Inc. bought a new position in shares of Arista Networks in the first quarter worth approximately $26,000. Beacon Capital Management LLC boosted its stake in Arista Networks by 500.0% during the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after purchasing an additional 65 shares during the last quarter. LGT Financial Advisors LLC purchased a new stake in shares of Arista Networks during the second quarter valued at $27,000. Financial Synergies Wealth Advisors Inc. raised its holdings in shares of Arista Networks by 872.7% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after purchasing an additional 96 shares during the last quarter. Finally, Byrne Asset Management LLC purchased a new stake in Arista Networks during the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.
Insider Activity
In related news, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $370.70, for a total transaction of $7,414,000.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares in the company, valued at approximately $1,202,550.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $370.70, for a total value of $7,414,000.00. Following the completion of the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $1,202,550.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kelly Bodnar Battles sold 372 shares of the firm’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 transaction 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 90 days, insiders have sold 107,361 shares of company stock valued at $38,024,123. 3.54% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Read Our Latest Research Report on Arista Networks
Arista Networks Stock Performance
NYSE:ANET opened at $385.57 on Tuesday. The stock’s fifty day moving average is $342.05 and its 200 day moving average is $317.63. The firm has a market capitalization of $120.82 billion, a PE ratio of 53.70, a PEG ratio of 2.70 and a beta of 1.07. Arista Networks, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $390.00.
Arista Networks (NYSE:ANET – Get Free Report) last released 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. The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.66 billion. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The business’s revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the business earned $1.41 EPS. Equities analysts forecast that Arista Networks, Inc. will post 7.38 EPS for the current year.
Arista Networks Company 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.
See Also
- Five stocks we like better than Arista Networks
- What is the FTSE 100 index?
- The Average 401k Balance by Age Explained
- Insider Trades May Not Tell You What You Think
- 3 Uranium Stocks To Gain as Microsoft Goes Nuclear to Power AI
- What is the Dogs of the Dow Strategy? Overview and Examples
- Biotech Boom Ahead? Key Stocks and ETFs to Watch Now
Want to see what other hedge funds are holding ANET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arista Networks, Inc. (NYSE:ANET – Free Report).
Receive News & Ratings for Arista Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks and related companies with MarketBeat.com's FREE daily email newsletter.