Arista Networks, Inc. (NYSE:ANET) Shares Bought by Prudential PLC

Prudential PLC increased its stake in Arista Networks, Inc. (NYSE:ANET) by 13.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 36,874 shares of the technology company’s stock after acquiring an additional 4,348 shares during the period. Prudential PLC’s holdings in Arista Networks were worth $12,924,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Benjamin Edwards Inc. purchased a new position in shares of Arista Networks in the 1st quarter valued at $26,000. Beacon Capital Management LLC grew its stake in shares of Arista Networks by 500.0% in the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after buying an additional 65 shares in the last quarter. LGT Financial Advisors LLC acquired a new position in Arista Networks during the 2nd quarter worth approximately $27,000. Financial Synergies Wealth Advisors Inc. boosted its holdings in Arista Networks by 872.7% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after acquiring an additional 96 shares during the period. Finally, Byrne Asset Management LLC acquired a new stake in Arista Networks in the second quarter valued at approximately $33,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ANET. Evercore ISI upped their target price on shares of Arista Networks from $340.00 to $400.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Jefferies Financial Group raised their target price on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price target on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research note 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 research note on Thursday, July 18th. Finally, Citigroup increased their price target on shares of Arista Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and an average price target of $358.63.

Insider Buying and Selling at Arista Networks

In other news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were 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 of the company’s stock, valued at approximately $1,202,550.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction on 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 sale, the senior vice president now owns 3,244 shares of the company’s stock, valued at approximately $1,202,550.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jayshree Ullal sold 832 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $318.12, for a total value of $264,675.84. Following the transaction, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at approximately $5,624,679.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 126,300 shares of company stock valued at $44,194,544. Company insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

ANET opened at $324.91 on Tuesday. Arista Networks, Inc. has a 12 month low of $168.25 and a 12 month high of $376.50. The stock’s 50 day moving average price is $342.45 and its 200 day moving average price is $311.82. The stock has a market cap of $102.07 billion, a P/E ratio of 45.25, a P/E/G ratio of 2.48 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 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.38. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the company earned $1.41 earnings per share. Equities analysts anticipate that Arista Networks, Inc. will post 7.38 EPS for the current 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.