Custom Index Systems LLC Acquires New Holdings in Arista Networks, Inc. (NYSE:ANET)

Custom Index Systems LLC acquired a new stake in Arista Networks, Inc. (NYSE:ANET) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 1,413 shares of the technology company’s stock, valued at approximately $542,000.

Other hedge funds have also recently bought and sold shares of the company. Sunbelt Securities Inc. raised its position in shares of Arista Networks by 352.3% during the 1st quarter. Sunbelt Securities Inc. now owns 294 shares of the technology company’s stock worth $85,000 after buying an additional 229 shares in the last quarter. Wealthcare Advisory Partners LLC raised its position in shares of Arista Networks by 10.6% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 1,535 shares of the technology company’s stock worth $445,000 after buying an additional 147 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Arista Networks by 143.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 41,947 shares of the technology company’s stock worth $12,164,000 after buying an additional 24,744 shares in the last quarter. Atticus Wealth Management LLC raised its position in shares of Arista Networks by 87.9% during the 1st quarter. Atticus Wealth Management LLC now owns 280 shares of the technology company’s stock worth $81,000 after buying an additional 131 shares in the last quarter. Finally, Trilogy Capital Inc. bought a new stake in shares of Arista Networks during the 1st quarter worth about $444,000. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Price Performance

ANET traded down $1.61 on Friday, reaching $394.09. 1,168,549 shares of the company traded hands, compared to its average volume of 2,220,388. The stock’s 50 day moving average price is $372.10 and its 200-day moving average price is $335.14. 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 $123.49 billion, a price-to-earnings ratio of 54.89, a PEG ratio of 3.21 and a beta of 1.07.

Arista Networks (NYSE:ANET) last announced 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 net margin of 39.01% and a return on equity of 30.50%. The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the firm posted $1.41 earnings per share. The firm’s revenue was up 15.9% on a year-over-year basis. As a group, equities research analysts forecast that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Insider Activity at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 832 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at $5,624,679.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Arista Networks news, Director Kelly Bodnar Battles sold 373 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $396.48, for a total value of $147,887.04. Following the completion of the sale, the director now directly owns 2,192 shares of the company’s stock, valued at $869,084.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jayshree Ullal sold 832 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $318.12, for a total transaction of $264,675.84. Following the completion of the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at $5,624,679.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,570 shares of company stock valued at $21,474,782. Corporate insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

ANET has been the topic of a number of recent analyst reports. KeyCorp boosted their price target on shares of Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Jefferies Financial Group boosted their target price on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Rosenblatt Securities boosted their target price on shares of Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. Barclays boosted their target price on shares of Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, Citigroup boosted their target price on shares of Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $369.50.

About Arista Networks

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.