RDA Financial Network Has $5.27 Million Holdings in Arista Networks, Inc. $ANET

RDA Financial Network grew its holdings in Arista Networks, Inc. (NYSE:ANET) by 57.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 31,032 shares of the technology company’s stock after purchasing an additional 11,315 shares during the quarter. Arista Networks makes up approximately 1.1% of RDA Financial Network’s holdings, making the stock its 20th biggest holding. RDA Financial Network’s holdings in Arista Networks were worth $5,272,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank acquired a new position in Arista Networks in the fourth quarter valued at approximately $1,558,563,000. M&T Bank Corp grew its holdings in Arista Networks by 3,182.7% during the 4th quarter. M&T Bank Corp now owns 4,012,373 shares of the technology company’s stock worth $525,741,000 after acquiring an additional 3,890,146 shares during the period. Franklin Resources Inc. raised its position in shares of Arista Networks by 59.3% during the 4th quarter. Franklin Resources Inc. now owns 7,878,360 shares of the technology company’s stock valued at $1,032,302,000 after acquiring an additional 2,934,098 shares during the last quarter. Pictet Asset Management Holding SA raised its position in shares of Arista Networks by 86.0% during the 1st quarter. Pictet Asset Management Holding SA now owns 4,240,951 shares of the technology company’s stock valued at $520,168,000 after acquiring an additional 1,960,829 shares during the last quarter. Finally, Clearbridge Investments LLC acquired a new position in shares of Arista Networks in the 4th quarter valued at $198,285,000. 82.47% of the stock is owned by institutional investors.

Arista Networks Stock Up 2.8%

ANET opened at $185.33 on Tuesday. The stock has a market cap of $233.36 billion, a P/E ratio of 63.47, a P/E/G ratio of 2.77 and a beta of 1.60. Arista Networks, Inc. has a 12 month low of $114.52 and a 12 month high of $189.82. The company has a fifty day simple moving average of $168.02 and a 200 day simple moving average of $150.69.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, May 5th. The technology company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.06. Arista Networks had a return on equity of 30.10% and a net margin of 38.32%.The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period in the previous year, the company posted $0.65 earnings per share. The company’s revenue for the quarter was up 35.1% on a year-over-year basis. On average, equities research analysts expect that Arista Networks, Inc. will post 3.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Andreas Bechtolsheim sold 240,000 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $162.67, for a total value of $39,040,800.00. Following the completion of the transaction, the insider directly owned 182,043,048 shares in the company, valued at approximately $29,612,942,618.16. The trade was a 0.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kenneth Duda sold 26,000 shares of the stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $170.51, for a total value of $4,433,260.00. Following the sale, the insider directly owned 462,400 shares of the company’s stock, valued at approximately $78,843,824. The trade was a 5.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 2,300,316 shares of company stock valued at $382,160,575 over the last ninety days. 2.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. KeyCorp restated an “overweight” rating and issued a $200.00 price target (up from $178.00) on shares of Arista Networks in a research report on Thursday, June 18th. Erste Group Bank raised Arista Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, July 15th. Citigroup reduced their target price on Arista Networks from $176.00 to $173.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. TD Cowen restated a “buy” rating and set a $210.00 target price (up from $200.00) on shares of Arista Networks in a research report on Monday, July 13th. Finally, Bank of America upped their price target on Arista Networks from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $189.74.

Arista Networks Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.