Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Sendero Wealth Management LLC

Sendero Wealth Management LLC boosted its position in Arista Networks, Inc. (NYSE:ANET) by 2.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,241 shares of the technology company’s stock after buying an additional 723 shares during the quarter. Arista Networks makes up about 1.6% of Sendero Wealth Management LLC’s investment portfolio, making the stock its 12th biggest holding. Sendero Wealth Management LLC’s holdings in Arista Networks were worth $10,456,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Benjamin Edwards Inc. acquired a new position in shares of Arista Networks during the first quarter valued at $26,000. Beacon Capital Management LLC increased its stake in shares of Arista Networks by 500.0% in the second 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 period. LGT Financial Advisors LLC bought a new stake in shares of Arista Networks during the second quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. grew its holdings in Arista Networks by 872.7% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after buying an additional 96 shares in the last quarter. Finally, Byrne Asset Management LLC acquired a new stake in Arista Networks in the 2nd quarter valued at approximately $33,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ANET has been the topic of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $375.00 price objective on shares of Arista Networks in a research note on Wednesday, July 31st. Rosenblatt Securities upped their target price on Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. UBS Group lifted their price target on Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. KeyCorp upped their price objective on Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Finally, Citigroup lifted their target price on Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday. 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $369.50.

Arista Networks Price Performance

Arista Networks stock traded up $2.35 during trading hours on Thursday, hitting $409.28. The company had a trading volume of 596,000 shares, compared to its average volume of 2,244,059. Arista Networks, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $410.71. The firm has a market capitalization of $128.25 billion, a P/E ratio of 56.40, a price-to-earnings-growth ratio of 3.04 and a beta of 1.07. The firm’s fifty day moving average is $355.96 and its 200-day moving average is $326.09.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.41 earnings per share. Analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Kelly Bodnar Battles sold 216 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $324.02, for a total value of $69,988.32. Following the completion of the transaction, the director now owns 2,726 shares in the company, valued at approximately $883,278.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Kelly Bodnar Battles sold 216 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $324.02, for a total value of $69,988.32. Following the completion of the transaction, the director now directly owns 2,726 shares in the company, valued at approximately $883,278.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $1,280,374.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,197 shares of company stock worth $21,326,894. Corporate insiders own 3.54% of the company’s stock.

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.