Mezzasalma Advisors LLC Has $9.48 Million Position in Arista Networks, Inc. (NYSE:ANET)

Mezzasalma Advisors LLC increased its stake in Arista Networks, Inc. (NYSE:ANET) by 1.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,710 shares of the technology company’s stock after purchasing an additional 350 shares during the period. Arista Networks makes up 3.7% of Mezzasalma Advisors LLC’s holdings, making the stock its 10th biggest holding. Mezzasalma Advisors LLC’s holdings in Arista Networks were worth $9,484,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kowal Investment Group LLC increased its stake in Arista Networks by 35.8% in the third quarter. Kowal Investment Group LLC now owns 1,865 shares of the technology company’s stock valued at $716,000 after acquiring an additional 492 shares during the last quarter. Cornerstone Wealth Management LLC bought a new position in shares of Arista Networks in the 3rd quarter valued at $207,000. Rheos Capital Works Inc. raised its holdings in shares of Arista Networks by 34.1% during the 3rd quarter. Rheos Capital Works Inc. now owns 27,500 shares of the technology company’s stock worth $10,555,000 after buying an additional 7,000 shares in the last quarter. Wolff Wiese Magana LLC lifted its position in shares of Arista Networks by 1,862.8% during the 3rd quarter. Wolff Wiese Magana LLC now owns 844 shares of the technology company’s stock worth $324,000 after buying an additional 801 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its stake in Arista Networks by 11.4% in the third quarter. Vontobel Holding Ltd. now owns 57,455 shares of the technology company’s stock valued at $22,052,000 after buying an additional 5,901 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Up 1.6 %

ANET opened at $412.76 on Thursday. The stock has a market cap of $129.34 billion, a PE ratio of 56.59, a price-to-earnings-growth ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a twelve month low of $168.25 and a twelve month high of $422.73. The company has a fifty day moving average of $364.47 and a 200-day moving average of $330.06.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results 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 the consensus estimate of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The business’s revenue was up 15.9% compared to the same quarter last year. During the same period last year, the business posted $1.41 EPS. Sell-side analysts anticipate that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Marc Taxay sold 628 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $350.50, for a total value of $220,114.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Arista Networks news, SVP Marc Taxay sold 628 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $350.50, for a total value of $220,114.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John F. Mccool sold 588 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $350.50, for a total value of $206,094.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,197 shares of company stock valued at $21,326,894. 3.54% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on ANET. Wells Fargo & Company increased 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. KeyCorp raised their target price on shares of Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Barclays boosted their target price on shares of Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group increased their price target on Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Finally, Morgan Stanley boosted their price objective on Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $369.50.

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.