Arista Networks, Inc. (NYSE:ANET) Shares Acquired by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp grew its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 47.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,358 shares of the technology company’s stock after acquiring an additional 439 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in Arista Networks were worth $476,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Arista Networks by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock valued at $6,946,338,000 after purchasing an additional 1,596,040 shares during the last quarter. Capital World Investors increased its holdings in Arista Networks by 0.5% in the 4th quarter. Capital World Investors now owns 10,136,348 shares of the technology company’s stock worth $2,387,211,000 after buying an additional 55,312 shares during the period. WCM Investment Management LLC raised its position in Arista Networks by 0.8% during the 1st quarter. WCM Investment Management LLC now owns 3,049,416 shares of the technology company’s stock worth $884,270,000 after buying an additional 25,196 shares during the last quarter. GQG Partners LLC acquired a new stake in Arista Networks during the 1st quarter valued at approximately $881,848,000. Finally, Norges Bank purchased a new stake in shares of Arista Networks in the 4th quarter valued at $586,051,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ANET shares. Rosenblatt Securities raised 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. Morgan Stanley lifted their price target on Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. Wells Fargo & Company upped their price objective on Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Bank of America lifted their target price on shares of Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Finally, Erste Group Bank reiterated a “buy” rating on shares of Arista Networks in a research note on Friday, June 14th. 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 company. According to data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and a consensus price target of $358.63.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $314.37 on Friday. Arista Networks, Inc. has a 12 month low of $168.25 and a 12 month high of $376.50. The stock has a market capitalization of $98.51 billion, a P/E ratio of 43.78, a PEG ratio of 2.78 and a beta of 1.11. The business has a 50 day simple moving average of $343.09 and a two-hundred day simple moving average of $310.67.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. The business had revenue of $1.69 billion during 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 firm earned $1.41 earnings per share. As a group, research analysts anticipate that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other news, CEO Jayshree Ullal sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $347.00, for a total transaction of $8,675,000.00. Following the transaction, the chief executive officer now directly owns 1,600,800 shares in the company, valued at approximately $555,477,600. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Jayshree Ullal sold 25,000 shares of Arista Networks stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $347.00, for a total transaction of $8,675,000.00. Following the transaction, the chief executive officer now owns 1,600,800 shares in the company, valued at approximately $555,477,600. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of the business’s 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 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. In the last quarter, insiders sold 126,300 shares of company stock worth $44,194,544. Insiders own 3.54% of the company’s stock.

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.