Affinity Capital Advisors LLC Has $285,000 Stake in Arista Networks, Inc. (NYSE:ANET)

Affinity Capital Advisors LLC reduced its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 8.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 742 shares of the technology company’s stock after selling 70 shares during the quarter. Affinity Capital Advisors LLC’s holdings in Arista Networks were worth $285,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in ANET. GQG Partners LLC purchased a new stake in shares of Arista Networks during the 1st quarter worth about $881,848,000. Swedbank AB acquired a new stake in Arista Networks in the first quarter valued at approximately $521,767,000. Vanguard Group Inc. grew its position in Arista Networks by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock worth $6,946,338,000 after acquiring an additional 1,596,040 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Arista Networks by 97.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock worth $628,966,000 after purchasing an additional 884,703 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in shares of Arista Networks by 4,160.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 515,700 shares of the technology company’s stock valued at $180,743,000 after purchasing an additional 503,597 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Morgan Stanley increased their target price on shares of Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. UBS Group raised their price objective on Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Wells Fargo & Company upped their target price on Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Piper Sandler lifted 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, Needham & Company LLC reaffirmed a “buy” rating and set a $375.00 price objective on shares of Arista Networks in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $364.81.

Insider Buying and Selling

In other news, CEO Jayshree Ullal sold 836 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $386.68, for a total value of $323,264.48. Following the sale, the chief executive officer now directly owns 17,681 shares in the company, valued at approximately $6,836,889.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Jayshree Ullal sold 836 shares of the business’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 sale, the chief executive officer now owns 17,681 shares in the company, valued at approximately $6,836,889.08. The trade was 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 the stock in a transaction dated 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 valued at $13,433,094 over the last quarter. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Stock Down 0.9 %

Arista Networks stock opened at $392.54 on Tuesday. The business has a 50 day moving average price of $351.55 and a two-hundred day moving average price of $324.25. Arista Networks, Inc. has a 12 month low of $168.25 and a 12 month high of $399.48. The stock has a market cap of $123.01 billion, a price-to-earnings ratio of 54.67, a price-to-earnings-growth ratio of 3.04 and a beta of 1.07.

Arista Networks (NYSE:ANET) last issued its 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 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%. Arista Networks’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the business earned $1.41 earnings per share. On average, analysts expect that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

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.