Blair William & Co. IL Boosts Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Blair William & Co. IL increased its position in Arista Networks, Inc. (NYSE:ANET) by 3.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 216,042 shares of the technology company’s stock after acquiring an additional 7,922 shares during the period. Blair William & Co. IL’s holdings in Arista Networks were worth $75,718,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ANET. GQG Partners LLC purchased a new stake in shares of Arista Networks during the first quarter valued at $881,848,000. Swedbank AB bought a new position in Arista Networks during the 1st quarter valued at about $521,767,000. Vanguard Group Inc. boosted its holdings in shares of 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 acquiring an additional 1,596,040 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of Arista Networks by 145.5% during the fourth quarter. TD Asset Management Inc now owns 794,935 shares of the technology company’s stock valued at $187,215,000 after purchasing an additional 471,099 shares during the last quarter. Finally, Schroder Investment Management Group lifted its position in Arista Networks by 29.9% during the fourth quarter. Schroder Investment Management Group now owns 1,635,783 shares of the technology company’s stock valued at $385,243,000 after purchasing an additional 376,478 shares during the period. 82.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Arista Networks news, CEO Jayshree Ullal sold 832 shares of Arista Networks stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $318.12, for a total value of $264,675.84. Following the sale, the chief executive officer now directly owns 17,681 shares in the company, valued at approximately $5,624,679.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Jayshree Ullal sold 832 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was 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 owns 17,681 shares in the company, valued at $5,624,679.72. The sale was disclosed in a document filed with the SEC, 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 stock was sold at an average price of $370.70, for a total value of $7,414,000.00. Following the completion of the sale, the senior vice president now directly owns 3,244 shares in the company, valued at $1,202,550.80. 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. 3.54% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ANET has been the topic of several research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $375.00 price target on shares of Arista Networks in a report 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 report on Thursday, July 18th. Jefferies Financial Group boosted their price target on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Barclays increased their price objective on shares of Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $400.00 target price on shares of Arista Networks in a report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and a consensus target price of $358.63.

Arista Networks Stock Up 0.5 %

Shares of Arista Networks stock opened at $360.97 on Wednesday. The company has a market capitalization of $113.11 billion, a price-to-earnings ratio of 50.27, a PEG ratio of 2.70 and a beta of 1.07. The stock’s 50-day simple moving average is $340.74 and its 200-day simple moving average is $315.02. Arista Networks, Inc. has a 52 week low of $168.25 and a 52 week high of $376.50.

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 analysts’ consensus estimates of $1.72 by $0.38. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the previous year, the firm earned $1.41 EPS. The firm’s revenue was up 15.9% compared to the same quarter last year. On average, equities analysts expect that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

About Arista Networks

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.