Arete Wealth Advisors LLC Has $407,000 Position in Arista Networks, Inc. (NYSE:ANET)

Arete Wealth Advisors LLC increased its holdings in shares of Arista Networks, Inc. (NYSE:ANETGet Rating) by 5.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,925 shares of the technology company’s stock after acquiring an additional 150 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Arista Networks were worth $407,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ANET. BlackRock Inc. grew its holdings in Arista Networks by 316.3% in the 4th quarter. BlackRock Inc. now owns 17,330,539 shares of the technology company’s stock valued at $2,491,267,000 after buying an additional 13,167,098 shares in the last quarter. State Street Corp grew its holdings in Arista Networks by 316.7% in the 4th quarter. State Street Corp now owns 8,893,510 shares of the technology company’s stock valued at $1,278,442,000 after buying an additional 6,759,436 shares in the last quarter. Capital World Investors grew its holdings in Arista Networks by 289.1% in the 4th quarter. Capital World Investors now owns 8,686,014 shares of the technology company’s stock valued at $1,248,615,000 after buying an additional 6,453,749 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Arista Networks by 303.5% in the 4th quarter. Alliancebernstein L.P. now owns 8,374,583 shares of the technology company’s stock valued at $1,203,846,000 after buying an additional 6,299,163 shares in the last quarter. Finally, Eaton Vance Management grew its holdings in Arista Networks by 300.0% in the 4th quarter. Eaton Vance Management now owns 4,681,386 shares of the technology company’s stock valued at $672,741,000 after buying an additional 3,511,113 shares in the last quarter. 67.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Marc Taxay sold 1,048 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $115.22, for a total transaction of $120,750.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Marc Taxay sold 1,048 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $115.22, for a total transaction of $120,750.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kelly Bodnar Battles sold 560 shares of the company’s stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $98.50, for a total transaction of $55,160.00. Following the sale, the director now directly owns 2,212 shares of the company’s stock, valued at approximately $217,882. The disclosure for this sale can be found here. Insiders sold a total of 530,320 shares of company stock worth $54,800,753 in the last 90 days. Insiders own 19.59% of the company’s stock.

Arista Networks Price Performance

NYSE ANET opened at $126.68 on Friday. The company has a market capitalization of $38.55 billion, a PE ratio of 39.07, a P/E/G ratio of 1.90 and a beta of 1.35. The company has a fifty day moving average of $101.91 and a 200 day moving average of $114.69. Arista Networks, Inc. has a 1 year low of $85.18 and a 1 year high of $148.57.

Arista Networks (NYSE:ANETGet Rating) last issued its quarterly earnings data on Monday, August 1st. The technology company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.30. Arista Networks had a net margin of 29.55% and a return on equity of 24.03%. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $979.66 million. During the same quarter in the prior year, the firm posted $0.56 earnings per share. The company’s revenue was up 48.7% compared to the same quarter last year. Research analysts expect that Arista Networks, Inc. will post 3.48 earnings per share for the current year.

Wall Street Analyst Weigh In

ANET has been the topic of a number of research reports. StockNews.com raised Arista Networks from a “hold” rating to a “buy” rating in a report on Wednesday. Piper Sandler upped their target price on Arista Networks from $108.00 to $125.00 and gave the company a “neutral” rating in a research report on Tuesday. Credit Suisse Group upped their price objective on Arista Networks from $178.00 to $185.00 and gave the stock an “outperform” rating in a research report on Tuesday. Citigroup upped their price objective on Arista Networks from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Oppenheimer reissued a “market perform” rating and issued a $305.00 price target on shares of Arista Networks in a research note on Wednesday, May 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $157.53.

About Arista Networks

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Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms.

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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