Arista Networks, Inc. (NYSE:ANET) Stock Holdings Increased by abrdn plc

abrdn plc boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 4.8% in the 3rd quarter, Holdings Channel reports. The firm owned 113,146 shares of the technology company’s stock after buying an additional 5,218 shares during the period. abrdn plc’s holdings in Arista Networks were worth $43,197,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Beacon Capital Management LLC increased its stake in Arista Networks by 500.0% in the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock worth $27,000 after purchasing an additional 65 shares in the last quarter. LGT Financial Advisors LLC purchased a new position in shares of Arista Networks in the second quarter worth approximately $27,000. Byrne Asset Management LLC purchased a new position in shares of Arista Networks in the second quarter worth approximately $33,000. Sugarloaf Wealth Management LLC acquired a new stake in shares of Arista Networks during the second quarter valued at approximately $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Arista Networks in the 2nd quarter valued at approximately $35,000. 82.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on ANET shares. Morgan Stanley lifted their price objective on shares of Arista Networks from $325.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. Jefferies Financial Group lifted their price target on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. The Goldman Sachs Group increased their price objective on Arista Networks from $390.00 to $430.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. UBS Group lifted their target price on Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Finally, Wells Fargo & Company increased their price target on shares of Arista Networks from $390.00 to $460.00 and gave the stock an “overweight” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $373.88.

Insiders Place Their Bets

In other news, CEO Jayshree Ullal sold 832 shares of Arista Networks stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $318.12, for a total value of $264,675.84. Following the transaction, the chief executive officer now owns 17,681 shares of the company’s stock, valued at $5,624,679.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Jayshree Ullal sold 832 shares of Arista Networks stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $318.12, for a total value of $264,675.84. Following the transaction, the chief executive officer now directly owns 17,681 shares in the company, valued at approximately $5,624,679.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kelly Bodnar Battles sold 373 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was 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 of the company’s stock, valued at $869,084.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,354 shares of company stock valued at $20,364,014 over the last 90 days. 3.54% of the stock is currently owned by company insiders.

Arista Networks Price Performance

Arista Networks stock opened at $395.98 on Thursday. Arista Networks, Inc. has a one year low of $187.68 and a one year high of $422.73. The company’s fifty day moving average price is $374.66 and its two-hundred day moving average price is $337.48. The company has a market capitalization of $124.09 billion, a price-to-earnings ratio of 55.15, a PEG ratio of 3.21 and a beta of 1.07.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.38. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the firm posted $1.41 EPS. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Arista Networks Company Profile

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.