Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Increases Stake in Arista Networks, Inc. (NYSE:ANET)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 3,483.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,198 shares of the technology company’s stock after purchasing an additional 27,411 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Arista Networks were worth $11,158,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ANET. Mutual Advisors LLC boosted its position in shares of Arista Networks by 13.1% during the third quarter. Mutual Advisors LLC now owns 5,154 shares of the technology company’s stock valued at $2,039,000 after buying an additional 595 shares during the period. Childress Capital Advisors LLC lifted its stake in shares of Arista Networks by 13.6% during the 3rd quarter. Childress Capital Advisors LLC now owns 983 shares of the technology company’s stock worth $377,000 after acquiring an additional 118 shares during the last quarter. GW Henssler & Associates Ltd. boosted its holdings in Arista Networks by 3.6% during the 3rd quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock valued at $24,274,000 after acquiring an additional 2,219 shares during the period. Strategic Blueprint LLC bought a new position in Arista Networks in the 3rd quarter valued at $266,000. Finally, Cutter & CO Brokerage Inc. increased its stake in Arista Networks by 8.7% in the third quarter. Cutter & CO Brokerage Inc. now owns 1,079 shares of the technology company’s stock worth $414,000 after purchasing an additional 86 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ANET has been the subject of several research reports. Citigroup boosted their price objective on shares of Arista Networks from $385.00 to $460.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group increased their price objective on Arista Networks from $390.00 to $430.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $375.00 target price on shares of Arista Networks in a research report on Wednesday, July 31st. UBS Group increased their price target on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Finally, Rosenblatt Securities lifted their price objective on Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $369.50.

Arista Networks Stock Down 0.9 %

Shares of Arista Networks stock traded down $3.73 during trading on Wednesday, reaching $397.84. The company’s stock had a trading volume of 98,852 shares, compared to its average volume of 2,199,589. Arista Networks, Inc. has a 1-year low of $187.68 and a 1-year high of $422.73. The company has a 50-day simple moving average of $373.86 and a two-hundred day simple moving average of $337.07. The company has a market cap of $124.67 billion, a price-to-earnings ratio of 55.93, a P/E/G ratio of 3.21 and a beta of 1.07.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.38. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter last year, the company earned $1.41 earnings per share. The company’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Insider Activity at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 832 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $5,624,679.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Arista Networks news, CEO Jayshree Ullal sold 832 shares of the business’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 sale, the chief executive officer now owns 17,681 shares in the company, valued at approximately $5,624,679.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Marc Taxay sold 628 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $350.50, for a total value of $220,114.00. The disclosure for this sale can be found here. Insiders sold 58,570 shares of company stock valued at $21,474,782 in the last three months. 3.54% of the stock is owned by insiders.

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.