Inspire Advisors LLC increased its position in shares of Arista Networks, Inc. (NYSE:ANET – Free Report) by 318.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 10,811 shares of the technology company’s stock after acquiring an additional 8,226 shares during the quarter. Arista Networks makes up 0.5% of Inspire Advisors LLC’s portfolio, making the stock its 19th biggest holding. Inspire Advisors LLC’s holdings in Arista Networks were worth $4,149,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Benjamin Edwards Inc. acquired a new stake in shares of Arista Networks during the first quarter valued at about $26,000. Beacon Capital Management LLC grew its holdings in shares of Arista Networks by 500.0% in the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after purchasing an additional 65 shares in the last quarter. LGT Financial Advisors LLC acquired a new position in shares of Arista Networks in the second quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. grew its holdings in shares of Arista Networks by 872.7% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock valued at $31,000 after purchasing an additional 96 shares in the last quarter. Finally, Byrne Asset Management LLC acquired a new position in shares of Arista Networks in the second quarter valued at approximately $33,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Arista Networks
In related news, SVP Marc Taxay sold 628 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $350.50, for a total value of $220,114.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Arista Networks news, SVP Marc Taxay sold 628 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $350.50, for a total value of $220,114.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 directly owns 17,681 shares in the company, valued at $5,624,679.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,197 shares of company stock worth $21,326,894 in the last 90 days. 3.54% of the stock is owned by insiders.
Arista Networks Trading Down 1.3 %
Arista Networks (NYSE:ANET – Get Free Report) last released 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 firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the firm earned $1.41 EPS. Arista Networks’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, equities analysts forecast that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
ANET has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price objective 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 lifted their price target on shares of Arista Networks from $320.00 to $380.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. UBS Group lifted their price target on shares of Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Morgan Stanley lifted their price target on shares of Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. Finally, KeyCorp lifted their price target on shares of Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $369.50.
Read Our Latest Report on Arista Networks
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.
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