Cutter & CO Brokerage Inc. Has $414,000 Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Cutter & CO Brokerage Inc. grew its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 8.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,079 shares of the technology company’s stock after purchasing an additional 86 shares during the period. Cutter & CO Brokerage Inc.’s holdings in Arista Networks were worth $414,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in ANET. GQG Partners LLC purchased a new position in Arista Networks in the first quarter worth $881,848,000. Swedbank AB bought a new stake in Arista Networks in the first quarter worth about $521,767,000. Ameriprise Financial Inc. grew its position in shares of Arista Networks by 97.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock valued at $628,966,000 after acquiring an additional 884,703 shares during the period. International Assets Investment Management LLC increased its stake in shares of Arista Networks by 39,841.1% during the 3rd quarter. International Assets Investment Management LLC now owns 875,110 shares of the technology company’s stock worth $3,358,850,000 after purchasing an additional 872,919 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in shares of Arista Networks by 4,160.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 515,700 shares of the technology company’s stock worth $180,743,000 after purchasing an additional 503,597 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Stock Performance

NYSE:ANET traded up $6.77 during mid-day trading on Tuesday, reaching $399.15. The stock had a trading volume of 124,900 shares, compared to its average volume of 2,204,676. The firm has a 50 day moving average price of $372.91 and a two-hundred day moving average price of $336.15. The stock has a market capitalization of $125.08 billion, a P/E ratio of 54.63, a P/E/G ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a one year low of $174.59 and a one year high of $422.73.

Arista Networks (NYSE:ANET) last released its 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 company 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%. Arista Networks’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.41 EPS. Research analysts forecast that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Insider Buying and Selling

In other Arista Networks news, Director Kelly Bodnar Battles sold 373 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $396.48, for a total value of $147,887.04. Following the completion of the sale, the director now owns 2,192 shares in the company, valued at approximately $869,084.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Arista Networks news, SVP Marc Taxay sold 628 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 value of $220,114.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kelly Bodnar Battles sold 373 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $396.48, for a total value of $147,887.04. Following the transaction, the director now directly owns 2,192 shares in the company, valued at $869,084.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,570 shares of company stock worth $21,474,782 in the last quarter. 3.54% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ANET has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Citigroup lifted their price objective on Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Jefferies Financial Group increased their target price on Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. UBS Group lifted their price target on Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Finally, Rosenblatt Securities raised their target price on Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and an average target price 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.