Frank Rimerman Advisors LLC Has $745,000 Holdings in Arista Networks, Inc. (NYSE:ANET)

Frank Rimerman Advisors LLC boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 8.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,941 shares of the technology company’s stock after buying an additional 152 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Arista Networks were worth $745,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Sunbelt Securities Inc. boosted its stake in shares of Arista Networks by 352.3% during the 1st quarter. Sunbelt Securities Inc. now owns 294 shares of the technology company’s stock worth $85,000 after buying an additional 229 shares during the last quarter. Wealthcare Advisory Partners LLC increased its stake in Arista Networks by 10.6% in the first quarter. Wealthcare Advisory Partners LLC now owns 1,535 shares of the technology company’s stock valued at $445,000 after acquiring an additional 147 shares during the last quarter. Trilogy Capital Inc. acquired a new stake in Arista Networks in the first quarter valued at approximately $444,000. Aviance Capital Partners LLC acquired a new position in shares of Arista Networks during the first quarter worth $290,000. Finally, Kowal Investment Group LLC acquired a new position in shares of Arista Networks during the first quarter worth $236,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Activity at Arista Networks

In other Arista Networks news, SVP Marc Taxay sold 628 shares of Arista Networks stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $350.50, for a total transaction of $220,114.00. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider John F. Mccool sold 588 shares of the business’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 transaction of $206,094.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Marc Taxay sold 628 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 $220,114.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,570 shares of company stock worth $21,474,782. 3.54% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ANET. KeyCorp lifted their price target on shares of Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $375.00 target price on shares of Arista Networks in a report on Wednesday, July 31st. Evercore ISI increased their price target on shares of Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. UBS Group increased their target price on shares of Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Finally, Barclays raised their target price on shares of Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. One investment 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 presently has an average rating of “Moderate Buy” and an average price target of $369.50.

Arista Networks Stock Down 0.4 %

Shares of ANET stock opened at $394.09 on Monday. Arista Networks, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $422.73. The stock has a market cap of $123.49 billion, a P/E ratio of 54.89, a P/E/G ratio of 3.21 and a beta of 1.07. The business has a fifty day simple moving average of $372.10 and a 200-day simple moving average of $335.48.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.38. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates 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 for the quarter was up 15.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.41 earnings per share. On average, sell-side analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

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.