Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. increased its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 9.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,096 shares of the technology company’s stock after acquiring an additional 6,767 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Arista Networks were worth $27,021,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Benjamin Edwards Inc. acquired a new position in shares of Arista Networks during the 1st quarter worth approximately $26,000. Beacon Capital Management LLC lifted its position in Arista Networks by 500.0% during the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after buying an additional 65 shares in the last quarter. LGT Financial Advisors LLC purchased a new position in Arista Networks during the second quarter worth approximately $27,000. Financial Synergies Wealth Advisors Inc. boosted its stake in Arista Networks by 872.7% during the first 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 during the last quarter. Finally, Byrne Asset Management LLC purchased a new stake in Arista Networks in the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $370.70, for a total value of $7,414,000.00. Following the sale, the senior vice president now owns 3,244 shares of the company’s stock, valued at approximately $1,202,550.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Jayshree Ullal sold 832 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $318.12, for a total transaction of $264,675.84. Following the completion of the transaction, the chief executive officer now owns 17,681 shares in the company, valued at $5,624,679.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $370.70, for a total value of $7,414,000.00. Following the completion of the transaction, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $1,202,550.80. The disclosure for this sale can be found here. Insiders sold 106,989 shares of company stock valued at $37,891,416 in the last three months. 3.54% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $375.00 price target on shares of Arista Networks in a research report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their target price on shares of Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Bank of America increased their price target on shares of Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Erste Group Bank reaffirmed a “buy” rating on shares of Arista Networks in a research report on Friday, June 14th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $400.00 price objective on shares of Arista Networks in a research report on Friday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $358.63.

Arista Networks Stock Performance

NYSE ANET opened at $359.76 on Monday. The firm has a market cap of $113.02 billion, a price-to-earnings ratio of 50.11, a PEG ratio of 2.70 and a beta of 1.07. The firm has a 50 day simple moving average of $341.07 and a 200-day simple moving average of $313.92. Arista Networks, Inc. has a one year low of $168.25 and a one year high of $376.50.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, beating the consensus estimate of $1.72 by $0.38. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter last year, the company posted $1.41 EPS. The firm’s revenue was up 15.9% compared to the same quarter last year. Equities analysts predict that Arista Networks, Inc. will post 7.38 EPS 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.