Atwood & Palmer Inc. held its stake in shares of Arista Networks, Inc. (NYSE:ANET) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,000 shares of the technology company’s stock at the end of the second quarter. Atwood & Palmer Inc.’s holdings in Arista Networks were worth $150,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ANET. First Personal Financial Services increased its stake in shares of Arista Networks by 3.3% in the first quarter. First Personal Financial Services now owns 1,984 shares of the technology company’s stock valued at $262,000 after buying an additional 63 shares during the period. First United Bank Trust increased its stake in shares of Arista Networks by 2.5% in the second quarter. First United Bank Trust now owns 6,510 shares of the technology company’s stock valued at $975,000 after buying an additional 160 shares during the period. Financial Architects Inc increased its stake in shares of Arista Networks by 17.9% in the second quarter. Financial Architects Inc now owns 1,480 shares of the technology company’s stock valued at $222,000 after buying an additional 225 shares during the period. IFP Advisors Inc increased its stake in shares of Arista Networks by 16.5% in the first quarter. IFP Advisors Inc now owns 1,697 shares of the technology company’s stock valued at $224,000 after buying an additional 240 shares during the period. Finally, Stifel Financial Corp increased its stake in shares of Arista Networks by 2.6% in the first quarter. Stifel Financial Corp now owns 10,170 shares of the technology company’s stock valued at $1,349,000 after buying an additional 256 shares during the period. 59.36% of the stock is owned by institutional investors.

Arista Networks, Inc. (NYSE ANET) traded up 1.32% on Wednesday, hitting $175.57. 143,880 shares of the company were exchanged. The company has a market capitalization of $12.73 billion, a P/E ratio of 45.31 and a beta of 1.33. Arista Networks, Inc. has a 52 week low of $77.82 and a 52 week high of $176.90. The firm’s 50 day moving average is $160.91 and its 200 day moving average is $142.28.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.15. Arista Networks had a net margin of 21.74% and a return on equity of 22.64%. The business had revenue of $405.21 million for the quarter, compared to analysts’ expectations of $361.02 million. During the same period in the prior year, the company posted $0.74 EPS. The business’s revenue for the quarter was up 50.8% on a year-over-year basis. On average, equities research analysts forecast that Arista Networks, Inc. will post $4.69 earnings per share for the current fiscal year.

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Several equities research analysts recently weighed in on the stock. Cowen and Company raised their price target on shares of Arista Networks from $123.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, May 5th. UBS AG lifted their target price on shares of Arista Networks from $120.00 to $150.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 31st. William Blair raised shares of Arista Networks from a “market perform” rating to an “outperform” rating in a research report on Friday, August 4th. BMO Capital Markets lifted their target price on shares of Arista Networks from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, May 5th. Finally, DA Davidson downgraded shares of Arista Networks from a “buy” rating to a “neutral” rating and set a $153.00 target price for the company. in a research report on Monday, May 22nd. Sixteen equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $154.40.

In other news, insider Ita M. Brennan sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $175.00, for a total transaction of $875,000.00. Following the transaction, the insider now directly owns 21,079 shares of the company’s stock, valued at approximately $3,688,825. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jayshree Ullal sold 200,268 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $173.37, for a total transaction of $34,720,463.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 651,539 shares of company stock worth $108,574,424. Corporate insiders own 28.09% of the company’s stock.

About Arista Networks

Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.

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

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