Arista Networks, Inc. $ANET Shares Bought by Benjamin Edwards Inc.

Benjamin Edwards Inc. grew its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 19.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,242 shares of the technology company’s stock after purchasing an additional 5,427 shares during the period. Benjamin Edwards Inc.’s holdings in Arista Networks were worth $4,843,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ANET. Brighton Jones LLC lifted its holdings in shares of Arista Networks by 321.7% in the fourth quarter. Brighton Jones LLC now owns 7,806 shares of the technology company’s stock valued at $863,000 after buying an additional 5,955 shares during the period. Revolve Wealth Partners LLC bought a new position in shares of Arista Networks during the 4th quarter valued at about $202,000. Bison Wealth LLC bought a new position in shares of Arista Networks during the 4th quarter valued at about $251,000. MBB Public Markets I LLC acquired a new position in shares of Arista Networks in the 1st quarter worth approximately $293,000. Finally, Glenview Trust co bought a new stake in shares of Arista Networks in the 1st quarter worth approximately $265,000. Institutional investors own 82.47% of the company’s stock.

Arista Networks Trading Down 0.5%

Shares of NYSE:ANET opened at $123.05 on Friday. The stock has a market capitalization of $154.95 billion, a PE ratio of 46.79, a P/E/G ratio of 2.08 and a beta of 1.41. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $164.94. The firm has a fifty day moving average price of $130.43 and a 200 day moving average price of $131.65.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The business’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.40 earnings per share. On average, sell-side analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. UBS Group restated a “buy” rating and issued a $155.00 target price on shares of Arista Networks in a report on Wednesday, December 3rd. Melius Research lifted their price target on Arista Networks from $160.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Barclays reaffirmed an “overweight” rating and set a $183.00 price objective (up from $179.00) on shares of Arista Networks in a research note on Wednesday, November 5th. BNP Paribas raised shares of Arista Networks from a “hold” rating to an “outperform” rating in a research report on Thursday, September 25th. Finally, Morgan Stanley cut their price target on shares of Arista Networks from $171.00 to $159.00 and set an “overweight” rating on the stock in a report on Wednesday, December 17th. Eighteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and an average target price of $164.44.

Insider Buying and Selling

In other Arista Networks news, Director Kelly Bodnar Battles sold 422 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $117.15, for a total transaction of $49,437.30. Following the transaction, the director owned 8,980 shares in the company, valued at $1,052,007. This trade represents a 4.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kenneth Duda sold 26,000 shares of the business’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $123.16, for a total transaction of $3,202,160.00. Following the completion of the sale, the insider owned 532,400 shares of the company’s stock, valued at $65,570,384. The trade was a 4.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 216,464 shares of company stock worth $28,488,988 over the last ninety days. Company insiders own 3.39% of the company’s stock.

Arista Networks Company Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.