Sigma Planning Corp Raises Stake in Arista Networks, Inc. (NYSE:ANET)

Sigma Planning Corp lifted its position in shares of Arista Networks, Inc. (NYSE:ANETGet Rating) by 3.2% in the second quarter, Holdings Channel reports. The firm owned 3,839 shares of the technology company’s stock after purchasing an additional 118 shares during the period. Sigma Planning Corp’s holdings in Arista Networks were worth $360,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. State Farm Mutual Automobile Insurance Co. boosted its holdings in Arista Networks by 2.1% in the 2nd quarter. State Farm Mutual Automobile Insurance Co. now owns 1,342,020 shares of the technology company’s stock worth $125,801,000 after acquiring an additional 27,369 shares during the period. Trust Asset Management LLC boosted its holdings in Arista Networks by 6.1% in the 2nd quarter. Trust Asset Management LLC now owns 2,372 shares of the technology company’s stock worth $222,000 after acquiring an additional 136 shares during the period. Mutual of America Capital Management LLC boosted its holdings in Arista Networks by 2.5% in the 2nd quarter. Mutual of America Capital Management LLC now owns 30,685 shares of the technology company’s stock worth $2,876,000 after acquiring an additional 746 shares during the period. Mackenzie Financial Corp boosted its holdings in Arista Networks by 41.9% in the 2nd quarter. Mackenzie Financial Corp now owns 75,097 shares of the technology company’s stock worth $7,040,000 after acquiring an additional 22,174 shares during the period. Finally, Desjardins Global Asset Management Inc. boosted its holdings in Arista Networks by 64.8% in the 2nd quarter. Desjardins Global Asset Management Inc. now owns 19,379 shares of the technology company’s stock worth $1,817,000 after acquiring an additional 7,621 shares during the period. Hedge funds and other institutional investors own 63.82% of the company’s stock.

Insiders Place Their Bets

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction on Friday, September 9th. The stock was sold at an average price of $125.08, for a total value of $250,160.00. Following the sale, the director now directly owns 96,946 shares of the company’s stock, valued at $12,126,005.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Kelly Bodnar Battles sold 400 shares of the stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $123.83, for a total value of $49,532.00. Following the completion of the transaction, the director now owns 1,923 shares of the company’s stock, valued at $238,125.09. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction on Friday, September 9th. The stock was sold at an average price of $125.08, for a total value of $250,160.00. Following the completion of the transaction, the director now directly owns 96,946 shares of the company’s stock, valued at approximately $12,126,005.68. The disclosure for this sale can be found here. Insiders have sold 70,476 shares of company stock valued at $8,515,503 over the last three months. Company insiders own 19.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ANET shares. KeyCorp decreased their price target on Arista Networks from $170.00 to $161.00 and set an “overweight” rating for the company in a report on Tuesday, November 1st. Cowen upped their target price on Arista Networks from $163.00 to $203.00 and gave the company an “outperform” rating in a research report on Tuesday, November 1st. Deutsche Bank Aktiengesellschaft upped their target price on Arista Networks from $135.00 to $140.00 in a research report on Thursday, November 3rd. Evercore ISI upped their target price on Arista Networks from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, August 2nd. Finally, Rosenblatt Securities upped their target price on Arista Networks from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Monday. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $167.32.

Arista Networks Price Performance

Shares of NYSE ANET opened at $137.19 on Friday. Arista Networks, Inc. has a 1-year low of $89.11 and a 1-year high of $148.57. The business’s fifty day moving average price is $118.46 and its two-hundred day moving average price is $112.19. The firm has a market capitalization of $41.92 billion, a PE ratio of 37.38, a P/E/G ratio of 2.06 and a beta of 1.27.

Arista Networks (NYSE:ANETGet Rating) last issued its earnings results on Monday, October 31st. The technology company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.21. Arista Networks had a return on equity of 27.23% and a net margin of 29.63%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the company earned $0.60 earnings per share. The firm’s revenue for the quarter was up 57.2% on a year-over-year basis. Equities research analysts expect that Arista Networks, Inc. will post 3.78 earnings per share for the current fiscal year.

Arista Networks Company Profile

(Get Rating)

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms.

See Also

Want to see what other hedge funds are holding ANET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arista Networks, Inc. (NYSE:ANETGet Rating).

Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

Receive News & Ratings for Arista Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arista Networks and related companies with MarketBeat.com's FREE daily email newsletter.