Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 9.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,096 shares of the technology company’s stock after buying an additional 6,767 shares during the period. Brown Brothers Harriman & Co.’s holdings in Arista Networks were worth $27,021,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GQG Partners LLC acquired a new position in shares of Arista Networks during the first quarter valued at about $881,848,000. Norges Bank acquired a new stake in shares of Arista Networks during the fourth quarter worth $586,051,000. Swedbank AB acquired a new stake in shares of Arista Networks during the first quarter worth $521,767,000. Vanguard Group Inc. grew its holdings in shares of Arista Networks by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock valued at $6,946,338,000 after buying an additional 1,596,040 shares during the last quarter. Finally, TD Asset Management Inc increased its position in shares of Arista Networks by 145.5% in the 4th quarter. TD Asset Management Inc now owns 794,935 shares of the technology company’s stock valued at $187,215,000 after acquiring an additional 471,099 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Stock Up 1.2 %

NYSE:ANET opened at $359.76 on Monday. Arista Networks, Inc. has a 52 week low of $168.25 and a 52 week high of $376.50. The stock’s 50-day moving average price is $341.07 and its 200-day moving average price is $313.92. The stock has a market capitalization of $113.02 billion, a PE ratio of 50.11, a price-to-earnings-growth ratio of 2.70 and a beta of 1.07.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (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%. Arista Networks’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.41 earnings per share. Sell-side analysts expect that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on ANET shares. Rosenblatt Securities boosted their price target on Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. increased their price target on shares of Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. UBS Group raised their price target on shares of Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Erste Group Bank reaffirmed a “buy” rating on shares of Arista Networks in a report on Friday, June 14th. Finally, Jefferies Financial Group raised 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $358.63.

Insider Activity at Arista Networks

In other Arista Networks news, SVP Marc Taxay sold 624 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $354.71, for a total transaction of $221,339.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Marc Taxay sold 624 shares of Arista Networks stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $354.71, for a total value of $221,339.04. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Kenneth Duda sold 1,689 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $321.28, for a total transaction of $542,641.92. Following the transaction, the senior vice president now owns 182,600 shares of the company’s stock, valued at approximately $58,665,728. The disclosure for this sale can be found here. In the last quarter, insiders have sold 106,989 shares of company stock valued at $37,891,416. 3.54% of the stock is owned by company insiders.

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.