Kestra Advisory Services LLC Purchases 3,072 Shares of Arista Networks, Inc. (NYSE:ANET)

Kestra Advisory Services LLC boosted its stake in shares of Arista Networks, Inc. (NYSE:ANETGet Rating) by 47.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,540 shares of the technology company’s stock after acquiring an additional 3,072 shares during the quarter. Kestra Advisory Services LLC’s holdings in Arista Networks were worth $1,077,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ANET. Vanguard Group Inc. raised its position in shares of Arista Networks by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 25,268,588 shares of the technology company’s stock valued at $3,511,828,000 after acquiring an additional 353,253 shares during the period. Artisan Partners Limited Partnership grew its stake in shares of Arista Networks by 10.7% during the 2nd quarter. Artisan Partners Limited Partnership now owns 5,724,904 shares of the technology company’s stock worth $536,652,000 after acquiring an additional 553,782 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Arista Networks by 5.7% during the 2nd quarter. Legal & General Group Plc now owns 1,867,464 shares of the technology company’s stock worth $175,058,000 after acquiring an additional 101,483 shares in the last quarter. Invesco Ltd. grew its stake in shares of Arista Networks by 3.2% during the 1st quarter. Invesco Ltd. now owns 1,823,080 shares of the technology company’s stock worth $253,371,000 after acquiring an additional 57,203 shares in the last quarter. Finally, State Farm Mutual Automobile Insurance Co. grew its stake in shares of Arista Networks by 2.1% in the second quarter. State Farm Mutual Automobile Insurance Co. now owns 1,342,020 shares of the technology company’s stock valued at $125,801,000 after buying an additional 27,369 shares in the last quarter. Institutional investors own 64.30% of the company’s stock.

Insider Activity at Arista Networks

In other Arista Networks news, insider John F. Mccool sold 1,332 shares of the business’s stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $140.05, for a total value of $186,546.60. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Arista Networks news, Director Kelly Bodnar Battles sold 400 shares of the company’s stock in a transaction dated Thursday, November 3rd. The shares were 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 in the company, valued at approximately $238,125.09. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John F. Mccool sold 1,332 shares of the company’s stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $140.05, for a total transaction of $186,546.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,171 shares of company stock worth $11,613,443. 19.59% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on ANET. Morgan Stanley raised their price target on Arista Networks from $115.00 to $130.00 and gave the company an “equal weight” rating in a report on Monday, November 7th. Piper Sandler dropped their price target on Arista Networks from $164.00 to $155.00 in a research note on Tuesday, January 17th. Citigroup lifted their target price on Arista Networks from $170.00 to $190.00 in a research report on Friday, November 4th. Rosenblatt Securities lifted 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, November 21st. Finally, Barclays boosted their price target on Arista Networks from $131.00 to $143.00 and gave the stock an “overweight” rating in a report on Tuesday, November 1st. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $167.79.

Arista Networks Trading Up 2.2 %

ANET stock opened at $121.77 on Wednesday. The firm has a 50 day moving average of $124.58 and a 200-day moving average of $119.65. Arista Networks, Inc. has a 12-month low of $89.11 and a 12-month high of $143.57. The company has a market cap of $37.21 billion, a price-to-earnings ratio of 33.18, a PEG ratio of 1.44 and a beta of 1.30.

Arista Networks (NYSE:ANETGet Rating) last released its earnings results on Monday, October 31st. The technology company reported $1.13 EPS for the quarter, topping the consensus estimate of $0.91 by $0.22. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Arista Networks had a net margin of 29.63% and a return on equity of 27.23%. Arista Networks’s revenue for the quarter was up 57.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 EPS. Sell-side analysts forecast that Arista Networks, Inc. will post 3.81 earnings per share for the current fiscal year.

About Arista Networks

(Get Rating)

Arista Networks, Inc engages in the development, marketing, and sale of cloud networking solutions. Its cloud networking solutions consist of Extensible Operating System (EOS), a set of network applications and Ethernet switching, and routing platforms. The company was founded by Andreas Bechtolsheim, David Cheriton, and Kenneth Duda in October 2004 and is headquartered in Santa Clara, CA.

Read More

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.