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

Curated Wealth Partners LLC acquired a new stake in shares of Arista Networks, Inc. (NYSE:ANET) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,584 shares of the technology company’s stock, valued at approximately $257,000.

A number of other large investors have also made changes to their positions in the stock. Cibc World Market Inc. raised its position in Arista Networks by 135.9% in the first quarter. Cibc World Market Inc. now owns 34,026 shares of the technology company’s stock worth $4,729,000 after purchasing an additional 19,602 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Arista Networks by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,261,171 shares of the technology company’s stock worth $175,274,000 after purchasing an additional 19,738 shares in the last quarter. Prudential PLC acquired a new position in Arista Networks in the first quarter worth about $676,000. Sequoia Financial Advisors LLC acquired a new position in Arista Networks in the first quarter worth about $224,000. Finally, Vanguard Group Inc. raised its position in Arista Networks by 1.4% in the first quarter. Vanguard Group Inc. now owns 25,268,588 shares of the technology company’s stock worth $3,511,828,000 after purchasing an additional 353,253 shares in the last quarter. Institutional investors and hedge funds own 67.13% of the company’s stock.

Arista Networks Trading Down 1.5 %

ANET opened at $184.72 on Friday. The stock has a market capitalization of $57.19 billion, a P/E ratio of 34.14, a P/E/G ratio of 1.83 and a beta of 1.17. Arista Networks, Inc. has a 12 month low of $98.20 and a 12 month high of $198.70. The firm’s fifty day simple moving average is $179.32 and its 200 day simple moving average is $163.80.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Monday, July 31st. The technology company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.29 by $0.29. Arista Networks had a net margin of 32.48% and a return on equity of 31.19%. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the previous year, the firm posted $0.98 EPS. The firm’s revenue was up 38.7% compared to the same quarter last year. On average, equities research analysts predict that Arista Networks, Inc. will post 5.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ANET. StockNews.com assumed coverage on shares of Arista Networks in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Morgan Stanley raised their price objective on shares of Arista Networks from $150.00 to $185.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 1st. Barclays increased their price target on shares of Arista Networks from $179.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, August 1st. Bank of America increased their price target on shares of Arista Networks from $190.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Citigroup raised shares of Arista Networks from a “neutral” rating to a “buy” rating and increased their price target for the company from $177.00 to $220.00 in a research note on Thursday, August 31st. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $199.40.

Insiders Place Their Bets

In other Arista Networks news, COO Anshul Sadana sold 13,504 shares of the business’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $170.05, for a total transaction of $2,296,355.20. Following the sale, the chief operating officer now directly owns 30,082 shares of the company’s stock, valued at approximately $5,115,444.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, COO Anshul Sadana sold 13,504 shares of the company’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $170.05, for a total value of $2,296,355.20. Following the sale, the chief operating officer now directly owns 30,082 shares of the company’s stock, valued at approximately $5,115,444.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Kenneth Duda sold 3,500 shares of the company’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $158.45, for a total transaction of $554,575.00. Following the completion of the sale, the senior vice president now directly owns 223,100 shares in the company, valued at $35,350,195. The disclosure for this sale can be found here. Insiders have sold 141,212 shares of company stock valued at $25,709,648 in the last three months. 18.99% of the stock is currently owned by corporate insiders.

Arista Networks Company Profile

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.