Trust Point Inc. Buys 100 Shares of Arista Networks, Inc. (NYSE:ANET)

Trust Point Inc. grew its stake in Arista Networks, Inc. (NYSE:ANET) by 5.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,053 shares of the technology company’s stock after purchasing an additional 100 shares during the quarter. Trust Point Inc.’s holdings in Arista Networks were worth $788,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ANET. Benjamin Edwards Inc. purchased a new stake in shares of Arista Networks in the 1st quarter worth about $26,000. Beacon Capital Management LLC grew its position in shares of Arista Networks by 500.0% in the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after buying an additional 65 shares during the period. LGT Financial Advisors LLC purchased a new stake in shares of Arista Networks in the 2nd quarter worth about $27,000. Financial Synergies Wealth Advisors Inc. grew its position in shares of 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 buying an additional 96 shares during the period. Finally, Byrne Asset Management LLC purchased a new stake in shares of Arista Networks in the 2nd quarter worth about $33,000. 82.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. Barclays increased their price objective on shares of Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Citigroup increased their price objective on shares of Arista Networks from $385.00 to $460.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. UBS Group increased their price objective on shares of Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Jefferies Financial Group increased their price objective on shares of Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, The Goldman Sachs Group raised their price target on shares of Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $369.50.

Arista Networks Stock Down 1.3 %

Shares of NYSE:ANET opened at $402.00 on Friday. The firm’s 50 day moving average price is $367.25 and its 200-day moving average price is $331.31. Arista Networks, Inc. has a twelve month low of $168.25 and a twelve month high of $422.73. The stock has a market capitalization of $125.97 billion, a PE ratio of 55.99, a price-to-earnings-growth ratio of 3.21 and a beta of 1.07.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter last year, the business earned $1.41 EPS. The firm’s revenue was up 15.9% compared to the same quarter last year. Analysts expect that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the sale, the senior vice president now owns 3,244 shares in the company, valued at approximately $1,280,374.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the sale, the senior vice president now owns 3,244 shares in the company, valued at $1,280,374.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Marc Taxay sold 624 shares of Arista Networks stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $388.37, for a total transaction of $242,342.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,197 shares of company stock worth $21,326,894. Company insiders own 3.54% of the company’s stock.

Arista Networks 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.