Chapin Davis Inc. Makes New $2.11 Million Investment in Arista Networks, Inc. (NYSE:ANET)

Chapin Davis Inc. purchased a new position in shares of Arista Networks, Inc. (NYSE:ANET) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 5,486 shares of the technology company’s stock, valued at approximately $2,106,000.

Other large investors also recently modified their holdings of the company. Salvus Wealth Management LLC increased its stake in Arista Networks by 2.0% in the third quarter. Salvus Wealth Management LLC now owns 6,229 shares of the technology company’s stock valued at $2,391,000 after purchasing an additional 125 shares in the last quarter. Parisi Gray Wealth Management grew its stake in shares of Arista Networks by 27.7% in the 3rd quarter. Parisi Gray Wealth Management now owns 734 shares of the technology company’s stock valued at $282,000 after buying an additional 159 shares during the period. IAM Advisory LLC increased its position in Arista Networks by 1.8% in the 3rd quarter. IAM Advisory LLC now owns 1,858 shares of the technology company’s stock valued at $713,000 after buying an additional 32 shares in the last quarter. Everpar Advisors LLC raised its stake in Arista Networks by 1.5% during the 3rd quarter. Everpar Advisors LLC now owns 1,907 shares of the technology company’s stock worth $732,000 after buying an additional 29 shares during the period. Finally, Diversified Trust Co boosted its holdings in Arista Networks by 87.1% in the third quarter. Diversified Trust Co now owns 5,158 shares of the technology company’s stock worth $1,980,000 after acquiring an additional 2,401 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Price Performance

NYSE ANET opened at $392.54 on Tuesday. The company’s 50 day simple moving average is $351.55 and its two-hundred day simple moving average is $324.25. Arista Networks, Inc. has a 1 year low of $168.25 and a 1 year high of $399.48. The stock has a market capitalization of $123.01 billion, a PE ratio of 54.67, a P/E/G ratio of 3.04 and a beta of 1.07.

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

Insider Buying and Selling

In other Arista Networks news, CEO Jayshree Ullal sold 836 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $386.68, for a total transaction of $323,264.48. Following the transaction, the chief executive officer now directly owns 17,681 shares in the company, valued at $6,836,889.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Jayshree Ullal sold 836 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $386.68, for a total value of $323,264.48. Following the completion of the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $6,836,889.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Marc Taxay sold 628 shares of Arista Networks stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $350.50, for a total transaction of $220,114.00. The disclosure for this sale can be found here. Insiders sold 38,197 shares of company stock worth $13,433,094 in the last quarter. 3.54% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. The Goldman Sachs Group boosted their price objective on Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Evercore ISI lifted their price objective on shares of Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Needham & Company LLC reissued a “buy” rating and set a $375.00 target price on shares of Arista Networks in a research report on Wednesday, July 31st. Piper Sandler raised their price target on shares of Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Finally, UBS Group boosted their price objective on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and a consensus target price of $364.81.

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.