Weatherly Asset Management L. P. Acquires 1,965 Shares of Arista Networks, Inc. (NYSE:ANET)

Weatherly Asset Management L. P. raised its stake in Arista Networks, Inc. (NYSE:ANET) by 10.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,971 shares of the technology company’s stock after buying an additional 1,965 shares during the period. Arista Networks comprises 0.7% of Weatherly Asset Management L. P.’s holdings, making the stock its 29th biggest holding. Weatherly Asset Management L. P.’s holdings in Arista Networks were worth $7,665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Arista Networks Price Performance

Shares of Arista Networks stock opened at $394.23 on Friday. Arista Networks, Inc. has a 1-year low of $203.19 and a 1-year high of $422.73. The stock has a market cap of $123.85 billion, a P/E ratio of 51.13, a P/E/G ratio of 3.49 and a beta of 1.07. The stock’s 50 day simple moving average is $376.13 and its 200-day simple moving average is $338.73.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data 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. The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the company posted $1.41 EPS. As a group, research analysts expect that Arista Networks, Inc. will post 7.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ANET has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $375.00 target price on shares of Arista Networks in a research note on Wednesday, July 31st. KeyCorp increased their price target on Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Evercore ISI boosted their price target on Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Piper Sandler lifted their target price on shares of Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Finally, Citigroup upped their price target 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $373.88.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, Director Kelly Bodnar Battles sold 373 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $396.48, for a total value of $147,887.04. Following the completion of the transaction, the director now owns 2,192 shares of the company’s stock, valued at $869,084.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Arista Networks news, Director Kelly Bodnar Battles sold 373 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $396.48, for a total value of $147,887.04. Following the sale, the director now owns 2,192 shares of the company’s stock, valued at $869,084.16. This trade represents 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. Also, CEO Jayshree Ullal sold 17,752 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $354.29, for a total transaction of $6,289,356.08. Following the sale, the chief executive officer now owns 17,681 shares in the company, valued at $6,264,201.49. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,522 shares of company stock valued at $20,099,338 in the last three months. 3.54% of the stock is owned by corporate insiders.

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.