Franklin Resources Inc. Has $114.03 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Franklin Resources Inc. lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANETGet Rating) by 14.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,216,489 shares of the technology company’s stock after purchasing an additional 156,665 shares during the quarter. Franklin Resources Inc. owned approximately 0.40% of Arista Networks worth $114,033,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. J.W. Cole Advisors Inc. acquired a new position in shares of Arista Networks during the 1st quarter worth $32,000. San Luis Wealth Advisors LLC acquired a new position in Arista Networks in the 1st quarter valued at $39,000. Clear Street Markets LLC grew its stake in Arista Networks by 415.2% in the 2nd quarter. Clear Street Markets LLC now owns 474 shares of the technology company’s stock valued at $44,000 after buying an additional 382 shares during the last quarter. Nvwm LLC acquired a new position in Arista Networks in the 1st quarter valued at $53,000. Finally, CX Institutional acquired a new position in Arista Networks in the 2nd quarter valued at $58,000. Institutional investors and hedge funds own 63.82% of the company’s stock.

Arista Networks Stock Performance

NYSE:ANET opened at $137.19 on Thursday. The company has a 50-day moving average of $118.16 and a 200-day moving average of $112.01. The company has a market capitalization of $41.92 billion, a price-to-earnings ratio of 37.38, a PEG ratio of 2.03 and a beta of 1.27. Arista Networks, Inc. has a 52 week low of $89.11 and a 52 week high of $148.57.

Arista Networks (NYSE:ANETGet Rating) last announced its earnings results on Monday, October 31st. The technology company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.21. The business 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%. The firm’s revenue for the quarter was up 57.2% on a year-over-year basis. During the same quarter last year, the company posted $0.60 EPS. Sell-side analysts forecast that Arista Networks, Inc. will post 3.78 EPS for the current year.

Analyst Ratings Changes

ANET has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of Arista Networks from $135.00 to $140.00 in a research note on Thursday, November 3rd. JPMorgan Chase & Co. raised their target price on shares of Arista Networks from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Tuesday, August 2nd. UBS Group raised their target price on shares of Arista Networks to $135.00 in a research note on Friday, November 4th. Needham & Company LLC raised their target price on shares of Arista Networks from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, November 4th. Finally, KeyCorp reduced their price target on shares of Arista Networks from $170.00 to $161.00 and set an “overweight” rating for the company in a report on Tuesday, November 1st. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $167.32.

Insider Buying and Selling

In related news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $125.08, for a total transaction of $250,160.00. Following the completion of the sale, the director now owns 96,946 shares in the company, valued at approximately $12,126,005.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $125.08, for a total transaction of $250,160.00. Following the completion of the sale, the director now owns 96,946 shares in the company, valued at approximately $12,126,005.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Marc Taxay sold 1,040 shares of the firm’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $114.87, for a total transaction of $119,464.80. The disclosure for this sale can be found here. Insiders sold 70,476 shares of company stock worth $8,515,503 in the last quarter. 19.59% of the stock is owned by corporate insiders.

Arista Networks Company Profile

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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.

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

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