Raleigh Capital Management Inc. Boosts Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Raleigh Capital Management Inc. raised its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 16.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 540 shares of the technology company’s stock after purchasing an additional 77 shares during the period. Raleigh Capital Management Inc.’s holdings in Arista Networks were worth $207,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Beacon Capital Management LLC boosted its holdings in shares of Arista Networks by 500.0% in the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after buying an additional 65 shares in the last quarter. LGT Financial Advisors LLC bought a new stake in shares of Arista Networks in the 2nd quarter valued at about $27,000. Byrne Asset Management LLC bought a new stake in shares of Arista Networks in the 2nd quarter valued at about $33,000. Sugarloaf Wealth Management LLC bought a new stake in shares of Arista Networks in the 2nd quarter valued at about $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Arista Networks in the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ANET shares. Rosenblatt Securities raised their price target on shares of Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Barclays lifted their target price on shares of Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lifted their target price on shares of Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Citigroup lifted their target price on shares of Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, UBS Group lifted their target price on shares of Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. One 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’s stock. According to data from MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and a consensus price target of $369.50.

Arista Networks Trading Down 2.3 %

Shares of NYSE ANET opened at $396.62 on Wednesday. The stock has a market cap of $124.29 billion, a price-to-earnings ratio of 55.24, a PEG ratio of 3.21 and a beta of 1.07. The company has a 50 day simple moving average of $369.61 and a two-hundred day simple moving average of $333.34. Arista Networks, Inc. has a 12 month low of $168.25 and a 12 month high of $422.73.

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

Insider Activity

In other news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the completion of the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $1,280,374.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the completion of the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $1,280,374.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kelly Bodnar Battles sold 216 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $324.02, for a total transaction of $69,988.32. Following the completion of the sale, the director now directly owns 2,726 shares of the company’s stock, valued at approximately $883,278.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,197 shares of company stock valued at $21,326,894 in the last three months. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks 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.