Corient Private Wealth LLC Raises Stake in Arista Networks, Inc. $ANET

Corient Private Wealth LLC grew its position in shares of Arista Networks, Inc. (NYSE:ANET) by 6.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 396,269 shares of the technology company’s stock after purchasing an additional 25,660 shares during the period. Corient Private Wealth LLC’s holdings in Arista Networks were worth $40,542,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ANET. Bare Financial Services Inc boosted its holdings in shares of Arista Networks by 2,118.2% during the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after purchasing an additional 233 shares during the period. Saudi Central Bank purchased a new stake in shares of Arista Networks in the 1st quarter worth about $33,000. REAP Financial Group LLC grew its stake in shares of Arista Networks by 108.0% in the second quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock worth $34,000 after acquiring an additional 175 shares during the last quarter. eCIO Inc. purchased a new stake in Arista Networks during the 1st quarter valued at about $36,000. Finally, Solstein Capital LLC raised its holdings in Arista Networks by 493.8% in the 2nd quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock worth $39,000 after acquiring an additional 316 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Wolfe Research increased their price objective on shares of Arista Networks from $160.00 to $185.00 and gave the stock an “outperform” rating in a research note on Friday, September 12th. BNP Paribas upgraded shares of Arista Networks from a “hold” rating to an “outperform” rating in a research report on Thursday, September 25th. Needham & Company LLC raised their target price on shares of Arista Networks from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. Evercore ISI boosted their price objective on Arista Networks from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, September 12th. Finally, Weiss Ratings lowered Arista Networks from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday. Seventeen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $164.31.

Insiders Place Their Bets

In other Arista Networks news, Director Kelly Bodnar Battles sold 422 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $117.15, for a total value of $49,437.30. Following the completion of the transaction, the director directly owned 8,980 shares in the company, valued at approximately $1,052,007. The trade was a 4.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jayshree Ullal sold 24,042 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total transaction of $2,994,431.10. Following the completion of the sale, the chief executive officer directly owned 9,917 shares in the company, valued at $1,235,162.35. This represents a 70.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 218,464 shares of company stock valued at $30,309,988 over the last 90 days. 3.54% of the stock is owned by corporate insiders.

Arista Networks Trading Up 0.2%

NYSE ANET opened at $126.17 on Wednesday. The stock has a market cap of $158.88 billion, a PE ratio of 47.97, a P/E/G ratio of 2.41 and a beta of 1.41. The stock has a fifty day simple moving average of $138.11 and a 200-day simple moving average of $127.48. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94.

Arista Networks (NYSE:ANET) last announced its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.26 billion. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The company’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.40 EPS. Research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

About Arista Networks

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.