Curated Wealth Partners LLC Invests $257,000 in Arista Networks, Inc. (NYSE:ANET)

Curated Wealth Partners LLC purchased a new position in shares of Arista Networks, Inc. (NYSE:ANET) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,584 shares of the technology company’s stock, valued at approximately $257,000.

Other institutional investors also recently modified their holdings of the company. Sheets Smith Wealth Management acquired a new position in shares of Arista Networks during the first quarter worth $304,000. Hollencrest Capital Management acquired a new position in shares of Arista Networks during the first quarter worth $30,000. TFC Financial Management Inc. increased its holdings in shares of Arista Networks by 131.0% during the first quarter. TFC Financial Management Inc. now owns 194 shares of the technology company’s stock worth $33,000 after buying an additional 110 shares in the last quarter. McIlrath & Eck LLC increased its holdings in shares of Arista Networks by 139.6% during the first quarter. McIlrath & Eck LLC now owns 254 shares of the technology company’s stock worth $43,000 after buying an additional 148 shares in the last quarter. Finally, Close Asset Management Ltd bought a new stake in shares of Arista Networks in the first quarter worth $43,000. 67.13% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Price Performance

ANET stock opened at $184.72 on Friday. The stock has a market capitalization of $57.19 billion, a PE ratio of 34.14, a price-to-earnings-growth ratio of 1.83 and a beta of 1.17. The company’s 50-day moving average is $179.32 and its 200-day moving average is $163.80. Arista Networks, Inc. has a 1 year low of $98.20 and a 1 year high of $198.70.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Monday, July 31st. The technology company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.29. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Arista Networks had a net margin of 32.48% and a return on equity of 31.19%. The business’s revenue was up 38.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 EPS. On average, analysts anticipate that Arista Networks, Inc. will post 5.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Kelly Bodnar Battles sold 284 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $191.65, for a total value of $54,428.60. Following the sale, the director now owns 2,743 shares in the company, valued at approximately $525,695.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Arista Networks news, Director Kelly Bodnar Battles sold 284 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $191.65, for a total value of $54,428.60. Following the completion of the sale, the director now owns 2,743 shares in the company, valued at approximately $525,695.95. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Anshul Sadana sold 25,212 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $180.11, for a total transaction of $4,540,933.32. Following the completion of the sale, the chief operating officer now owns 25,378 shares of the company’s stock, valued at approximately $4,570,831.58. The disclosure for this sale can be found here. Insiders have sold 141,212 shares of company stock worth $25,709,648 in the last quarter. Insiders own 18.99% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on ANET shares. Citigroup raised shares of Arista Networks from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $177.00 to $220.00 in a research note on Thursday, August 31st. JMP Securities reissued a “market outperform” rating and issued a $200.00 price objective on shares of Arista Networks in a research note on Tuesday, August 1st. Argus boosted their price objective on shares of Arista Networks from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Bank of America boosted their price objective on shares of Arista Networks from $190.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Wells Fargo & Company boosted their price objective on shares of Arista Networks from $200.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 1st. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $199.40.

About Arista Networks

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.