Inspire Investing LLC Grows Stake in Arista Networks, Inc. (NYSE:ANET)

Inspire Investing LLC increased its holdings in Arista Networks, Inc. (NYSE:ANET) by 11.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,640 shares of the technology company’s stock after buying an additional 2,976 shares during the quarter. Arista Networks comprises 1.1% of Inspire Investing LLC’s portfolio, making the stock its 10th largest holding. Inspire Investing LLC’s holdings in Arista Networks were worth $10,993,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. First Affirmative Financial Network lifted its stake in shares of Arista Networks by 4.3% in the 3rd quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock worth $262,000 after acquiring an additional 28 shares during the period. FCG Investment Co lifted its position in Arista Networks by 2.3% in the second quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock worth $445,000 after purchasing an additional 29 shares during the period. Everpar Advisors LLC boosted its stake in Arista Networks by 1.5% during the 3rd quarter. Everpar Advisors LLC now owns 1,907 shares of the technology company’s stock valued at $732,000 after purchasing an additional 29 shares in the last quarter. Old Port Advisors increased its position in shares of Arista Networks by 3.5% during the 1st quarter. Old Port Advisors now owns 955 shares of the technology company’s stock valued at $277,000 after purchasing an additional 32 shares during the period. Finally, IAM Advisory LLC raised its stake in shares of Arista Networks by 1.8% in the 3rd quarter. IAM Advisory LLC now owns 1,858 shares of the technology company’s stock worth $713,000 after buying an additional 32 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ANET. JPMorgan Chase & Co. lifted their target price on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Rosenblatt Securities boosted their target price on shares of Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. Wells Fargo & Company raised their target price on shares of Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $375.00 price target on shares of Arista Networks in a report on Wednesday, July 31st. Finally, Jefferies Financial Group increased their price objective on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and a consensus price target of $369.50.

Arista Networks Trading Up 1.7 %

Shares of NYSE:ANET opened at $416.93 on Friday. The stock has a market capitalization of $130.65 billion, a PE ratio of 58.07, a P/E/G ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a 1 year low of $168.25 and a 1 year high of $417.71. The firm has a fifty day moving average price of $359.35 and a 200 day moving average price of $327.66.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) 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 company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the company posted $1.41 EPS. The firm’s revenue was up 15.9% on a year-over-year basis. On average, sell-side analysts forecast that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jayshree Ullal sold 832 shares of Arista Networks stock in a transaction dated Friday, August 2nd. The stock was 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 in the company, valued at approximately $5,624,679.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Arista Networks news, CEO Jayshree Ullal sold 832 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $318.12, for a total value of $264,675.84. Following the completion of the sale, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at $5,624,679.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Kenneth Duda sold 1,689 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $321.28, for a total transaction of $542,641.92. Following the completion of the sale, the senior vice president now owns 182,600 shares in the company, valued at $58,665,728. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,197 shares of company stock worth $21,326,894 in the last quarter. 3.54% of the stock is currently owned by company 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.