Arista Networks, Inc. (NYSE:ANET) Shares Bought by Childress Capital Advisors LLC

Childress Capital Advisors LLC lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 13.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 983 shares of the technology company’s stock after buying an additional 118 shares during the quarter. Childress Capital Advisors LLC’s holdings in Arista Networks were worth $377,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ANET. Beacon Capital Management LLC raised its position in Arista Networks by 500.0% during the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after acquiring an additional 65 shares during the last quarter. LGT Financial Advisors LLC purchased a new stake in Arista Networks in the 2nd quarter valued at approximately $27,000. Byrne Asset Management LLC purchased a new stake in Arista Networks in the 2nd quarter valued at approximately $33,000. Sugarloaf Wealth Management LLC acquired a new stake in Arista Networks during the 2nd quarter valued at $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Arista Networks in the second quarter worth $35,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Arista Networks

In related news, SVP Marc Taxay sold 628 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $350.50, for a total transaction of $220,114.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Marc Taxay sold 628 shares of Arista Networks stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $350.50, for a total transaction of $220,114.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kelly Bodnar Battles sold 216 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $324.02, for a total transaction of $69,988.32. Following the completion of the transaction, the director now directly owns 2,726 shares of the company’s stock, valued at approximately $883,278.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,570 shares of company stock valued at $21,474,782 over the last quarter. Company insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on ANET shares. JPMorgan Chase & Co. increased their price objective on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. 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 report on Thursday, July 18th. Citigroup upped their price objective on shares of Arista Networks from $385.00 to $460.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. UBS Group lifted their target price 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. Finally, Wells Fargo & Company increased their price target on Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $369.50.

Arista Networks Stock Up 2.3 %

Shares of ANET stock opened at $401.57 on Wednesday. Arista Networks, Inc. has a fifty-two week low of $174.59 and a fifty-two week high of $422.73. The firm’s 50 day moving average price is $373.86 and its two-hundred day moving average price is $337.07. The stock has a market cap of $125.84 billion, a price-to-earnings ratio of 55.93, a price-to-earnings-growth ratio of 3.21 and a beta of 1.07.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.66 billion. During the same period in the prior year, the company earned $1.41 EPS. The firm’s revenue was up 15.9% on a year-over-year basis. On average, equities analysts forecast that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

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.