J.W. Cole Advisors Inc. Acquires 1,776 Shares of Arista Networks, Inc. (NYSE:ANET)

J.W. Cole Advisors Inc. raised its holdings in Arista Networks, Inc. (NYSE:ANET) by 165.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,851 shares of the technology company’s stock after acquiring an additional 1,776 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Arista Networks were worth $999,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ANET. GQG Partners LLC bought a new position in Arista Networks in the first quarter valued at approximately $881,848,000. Norges Bank bought a new position in Arista Networks in the fourth quarter valued at approximately $586,051,000. Swedbank AB bought a new position in Arista Networks in the first quarter valued at approximately $521,767,000. Vanguard Group Inc. boosted its stake in Arista Networks by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock valued at $6,946,338,000 after acquiring an additional 1,596,040 shares during the last quarter. Finally, TD Asset Management Inc boosted its stake in Arista Networks by 145.5% in the fourth quarter. TD Asset Management Inc now owns 794,935 shares of the technology company’s stock valued at $187,215,000 after acquiring an additional 471,099 shares during the last quarter. 82.47% of the stock is owned by institutional investors.

Insider Activity at Arista Networks

In related news, SVP Kenneth Duda sold 20,000 shares of the firm’s 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 owns 3,244 shares of the company’s stock, valued at $1,202,550.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Marc Taxay sold 624 shares of Arista Networks stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $354.71, for a total value of $221,339.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $370.70, for a total transaction of $7,414,000.00. Following the completion of the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $1,202,550.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 106,989 shares of company stock valued at $37,891,416. Corporate insiders own 3.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ANET shares. Erste Group Bank reiterated a “buy” rating on shares of Arista Networks in a report on Friday, June 14th. Citigroup increased their target price on shares of Arista Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Rosenblatt Securities increased their target price on shares of Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. Jefferies Financial Group increased their target price on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Morgan Stanley increased their target price on shares of Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $358.63.

Arista Networks Trading Up 1.2 %

Arista Networks stock opened at $359.76 on Monday. The company has a market cap of $113.02 billion, a P/E ratio of 50.11, a price-to-earnings-growth ratio of 2.70 and a beta of 1.07. Arista Networks, Inc. has a 1-year low of $168.25 and a 1-year high of $376.50. The company has a fifty day simple moving average of $341.07 and a 200 day simple moving average of $313.92.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.38. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.41 earnings per share. On average, equities research analysts forecast that Arista Networks, Inc. will post 7.38 EPS for the current year.

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.