Rathbones Group PLC Acquires 963 Shares of Arista Networks, Inc. (NYSE:ANET)

Rathbones Group PLC lifted its holdings in Arista Networks, Inc. (NYSE:ANET) by 7.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,715 shares of the technology company’s stock after acquiring an additional 963 shares during the period. Rathbones Group PLC’s holdings in Arista Networks were worth $4,807,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. FCG Investment Co boosted its stake in Arista Networks by 2.3% in the 2nd quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock worth $445,000 after purchasing an additional 29 shares during the period. Old Port Advisors boosted its position in shares of Arista Networks by 3.5% during the first quarter. Old Port Advisors now owns 955 shares of the technology company’s stock worth $277,000 after acquiring an additional 32 shares during the last quarter. Fortitude Family Office LLC grew its stake in Arista Networks by 33.3% during the second quarter. Fortitude Family Office LLC now owns 132 shares of the technology company’s stock valued at $46,000 after acquiring an additional 33 shares in the last quarter. Resonant Capital Advisors LLC increased its holdings in Arista Networks by 4.1% in the 2nd quarter. Resonant Capital Advisors LLC now owns 870 shares of the technology company’s stock valued at $305,000 after acquiring an additional 34 shares during the last quarter. Finally, Modera Wealth Management LLC lifted its stake in Arista Networks by 2.1% in the 2nd quarter. Modera Wealth Management LLC now owns 1,782 shares of the technology company’s stock worth $625,000 after purchasing an additional 37 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Activity at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $352.93, for a total transaction of $705,860.00. Following the transaction, the director now directly owns 52,946 shares in the company, valued at approximately $18,686,231.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $352.93, for a total transaction of $705,860.00. Following the transaction, the director now directly owns 52,946 shares in the company, valued at approximately $18,686,231.78. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Marc Taxay sold 624 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $354.71, for a total transaction of $221,339.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 106,989 shares of company stock worth $37,891,416. Company insiders own 3.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group lifted their target price on Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $375.00 price objective on shares of Arista Networks in a research note on Wednesday, July 31st. Morgan Stanley increased their target price on Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. Citigroup boosted their price target on shares of Arista Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Finally, UBS Group upped their price target on shares of Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. One research 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $358.63.

Arista Networks Stock Up 1.2 %

ANET stock opened at $359.76 on Monday. Arista Networks, Inc. has a twelve month low of $168.25 and a twelve month high of $376.50. 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 business’s fifty day simple moving average is $341.07 and its two-hundred day simple moving average is $313.92.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, topping the consensus estimate of $1.72 by $0.38. The company had revenue of $1.69 billion for 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 was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.41 EPS. Research analysts expect that Arista Networks, Inc. will post 7.38 EPS for the current 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.