Kestra Advisory Services LLC Has $1.08 Million Position in Arista Networks, Inc. (NYSE:ANET)

Kestra Advisory Services LLC raised its stake in Arista Networks, Inc. (NYSE:ANETGet Rating) by 47.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,540 shares of the technology company’s stock after purchasing an additional 3,072 shares during the period. Kestra Advisory Services LLC’s holdings in Arista Networks were worth $1,077,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Arista Networks by 1.4% in the first quarter. Vanguard Group Inc. now owns 25,268,588 shares of the technology company’s stock valued at $3,511,828,000 after acquiring an additional 353,253 shares during the period. Artisan Partners Limited Partnership lifted its position in Arista Networks by 10.7% during the second quarter. Artisan Partners Limited Partnership now owns 5,724,904 shares of the technology company’s stock worth $536,652,000 after purchasing an additional 553,782 shares during the period. Legal & General Group Plc raised its stake in Arista Networks by 5.7% during the second quarter. Legal & General Group Plc now owns 1,867,464 shares of the technology company’s stock worth $175,058,000 after acquiring an additional 101,483 shares in the last quarter. Invesco Ltd. raised its stake in Arista Networks by 3.2% during the first quarter. Invesco Ltd. now owns 1,823,080 shares of the technology company’s stock worth $253,371,000 after acquiring an additional 57,203 shares in the last quarter. Finally, State Farm Mutual Automobile Insurance Co. raised its stake in Arista Networks by 2.1% during the second quarter. State Farm Mutual Automobile Insurance Co. now owns 1,342,020 shares of the technology company’s stock worth $125,801,000 after acquiring an additional 27,369 shares in the last quarter. 64.30% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction that occurred on Tuesday, January 10th. The stock was sold at an average price of $114.69, for a total transaction of $2,293,800.00. Following the transaction, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $372,054.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction on Tuesday, January 10th. The stock was sold at an average price of $114.69, for a total value of $2,293,800.00. Following the transaction, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $372,054.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Marc Taxay sold 1,040 shares of the stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $120.38, for a total value of $125,195.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 91,171 shares of company stock worth $11,613,443. Corporate insiders own 19.59% of the company’s stock.

Arista Networks Stock Performance

Arista Networks stock opened at $121.77 on Wednesday. The stock has a market capitalization of $37.21 billion, a price-to-earnings ratio of 33.18, a PEG ratio of 1.44 and a beta of 1.30. Arista Networks, Inc. has a 52-week low of $89.11 and a 52-week high of $143.57. The stock’s 50 day moving average price is $124.58 and its two-hundred day moving average price is $119.65.

Arista Networks (NYSE:ANETGet Rating) last posted its quarterly earnings results on Monday, October 31st. The technology company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.22. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Arista Networks had a return on equity of 27.23% and a net margin of 29.63%. The company’s revenue for the quarter was up 57.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 EPS. On average, equities research analysts forecast that Arista Networks, Inc. will post 3.81 EPS for the current year.

Wall Street Analysts Forecast Growth

ANET has been the subject of several research analyst reports. Cowen boosted their target price on Arista Networks from $203.00 to $212.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 13th. Citigroup boosted their target price on Arista Networks from $170.00 to $190.00 in a research note on Friday, November 4th. Rosenblatt Securities upped their price objective on Arista Networks from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, November 21st. Credit Suisse Group upped their price objective on Arista Networks from $119.00 to $140.00 and gave the company a “neutral” rating in a research note on Monday, November 7th. Finally, Piper Sandler lowered their price objective on Arista Networks from $164.00 to $155.00 in a research note on Tuesday, January 17th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and an average target price of $167.79.

Arista Networks Company Profile

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Arista Networks, Inc engages in the development, marketing, and sale of cloud networking solutions. Its cloud networking solutions consist of Extensible Operating System (EOS), a set of network applications and Ethernet switching, and routing platforms. The company was founded by Andreas Bechtolsheim, David Cheriton, and Kenneth Duda in October 2004 and is headquartered in Santa Clara, CA.

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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