Chicago Capital LLC Raises Position in Arista Networks, Inc. (NYSE:ANET)

Chicago Capital LLC lifted its stake in Arista Networks, Inc. (NYSE:ANET) by 7.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,590 shares of the technology company’s stock after purchasing an additional 331 shares during the period. Chicago Capital LLC’s holdings in Arista Networks were worth $1,762,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ANET. GQG Partners LLC bought a new position in shares of Arista Networks in the first quarter worth about $881,848,000. Legal & General Group Plc increased its holdings in Arista Networks by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 2,195,733 shares of the technology company’s stock worth $769,560,000 after acquiring an additional 20,278 shares in the last quarter. Swedbank AB purchased a new position in Arista Networks during the first quarter valued at approximately $521,767,000. Ameriprise Financial Inc. boosted its position in shares of Arista Networks by 97.2% in the second quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock worth $628,966,000 after purchasing an additional 884,703 shares during the period. Finally, TD Asset Management Inc grew its stake in Arista Networks by 18.7% during the first quarter. TD Asset Management Inc now owns 943,694 shares of the technology company’s stock valued at $273,652,000 after acquiring an additional 148,759 shares in the last quarter. 82.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $342.28, for a total transaction of $684,560.00. Following the transaction, the director now directly owns 50,946 shares of the company’s stock, valued at $17,437,796.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Arista Networks news, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $342.28, for a total transaction of $684,560.00. Following the completion of the transaction, the director now owns 50,946 shares of the company’s stock, valued at $17,437,796.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jayshree Ullal sold 832 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $318.12, for a total transaction of $264,675.84. Following the transaction, the chief executive officer now owns 17,681 shares in the company, valued at approximately $5,624,679.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,197 shares of company stock worth $21,326,894. 3.54% of the stock is owned by corporate insiders.

Arista Networks Trading Down 1.3 %

ANET stock opened at $402.00 on Friday. The company’s 50-day moving average price is $367.25 and its 200 day moving average price is $331.59. Arista Networks, Inc. has a 52 week low of $168.25 and a 52 week high of $422.73. The company has a market cap of $125.97 billion, a P/E ratio of 55.99, a P/E/G ratio of 3.21 and a beta of 1.07.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the business posted $1.41 EPS. On average, equities research analysts expect that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ANET. Jefferies Financial Group lifted their price objective on shares of Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Evercore ISI raised their price target on Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $375.00 price objective on shares of Arista Networks in a research note on Wednesday, July 31st. Citigroup boosted their price target on shares of Arista Networks from $385.00 to $460.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, UBS Group increased their price objective on shares of Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $369.50.

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.