Court Place Advisors LLC Makes New $215,000 Investment in Arista Networks, Inc. (NYSE:ANET)

Court Place Advisors LLC purchased a new position in shares of Arista Networks, Inc. (NYSE:ANET) in the 3rd quarter, Holdings Channel reports. The fund purchased 560 shares of the technology company’s stock, valued at approximately $215,000.

A number of other large investors have also modified their holdings of the company. First Affirmative Financial Network grew its position in Arista Networks by 4.3% in the 3rd quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock worth $262,000 after purchasing an additional 28 shares during the last quarter. FCG Investment Co raised its stake in Arista Networks by 2.3% during the 2nd quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock valued at $445,000 after acquiring an additional 29 shares in the last quarter. Everpar Advisors LLC grew its stake in shares of Arista Networks by 1.5% in the third quarter. Everpar Advisors LLC now owns 1,907 shares of the technology company’s stock worth $732,000 after purchasing an additional 29 shares in the last quarter. Foundations Investment Advisors LLC lifted its holdings in Arista Networks by 5.0% in the third quarter. Foundations Investment Advisors LLC now owns 653 shares of the technology company’s stock worth $251,000 after purchasing an additional 31 shares during the period. Finally, Old Port Advisors lifted its stake in shares of Arista Networks by 3.5% in the 1st 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 period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Up 0.9 %

Shares of ANET traded up $3.54 during trading hours on Friday, reaching $399.24. The company’s stock had a trading volume of 222,331 shares, compared to its average volume of 2,215,819. The company has a 50 day moving average of $370.52 and a two-hundred day moving average of $333.77. The firm has a market cap of $125.11 billion, a price-to-earnings ratio of 55.09, a P/E/G ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a 1-year low of $168.25 and a 1-year high of $422.73.

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

Wall Street Analyst Weigh In

ANET has been the subject of a number of research analyst reports. Piper Sandler upped their target price on Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Jefferies Financial Group raised their target price on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. KeyCorp boosted their price target on shares of Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Needham & Company LLC reissued a “buy” rating and issued a $375.00 price target on shares of Arista Networks in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $369.50.

Insider Buying and Selling

In other Arista Networks news, Director Kelly Bodnar Battles sold 216 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $324.02, for a total value of $69,988.32. Following the transaction, the director now owns 2,726 shares in the company, valued at $883,278.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Arista Networks news, Director Kelly Bodnar Battles sold 216 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $324.02, for a total value of $69,988.32. Following the completion of the sale, the director now directly owns 2,726 shares of the company’s stock, valued at $883,278.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $342.28, for a total transaction of $684,560.00. Following the transaction, the director now owns 50,946 shares in the company, valued at $17,437,796.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,570 shares of company stock worth $21,474,782. Corporate insiders own 3.54% of the company’s stock.

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.