J.W. Cole Advisors Inc. Has $999,000 Holdings in Arista Networks, Inc. (NYSE:ANET)

J.W. Cole Advisors Inc. lifted its holdings in Arista Networks, Inc. (NYSE:ANET) by 165.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,851 shares of the technology company’s stock after purchasing an additional 1,776 shares during the period. J.W. Cole Advisors Inc.’s holdings in Arista Networks were worth $999,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of ANET. GQG Partners LLC bought a new position in Arista Networks in the 1st quarter worth $881,848,000. Norges Bank bought a new position in Arista Networks in the 4th quarter worth $586,051,000. Swedbank AB bought a new position in Arista Networks in the 1st quarter worth $521,767,000. Vanguard Group Inc. raised its holdings in Arista Networks by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock worth $6,946,338,000 after acquiring an additional 1,596,040 shares during the period. Finally, TD Asset Management Inc raised its holdings in Arista Networks by 145.5% in the 4th quarter. TD Asset Management Inc now owns 794,935 shares of the technology company’s stock worth $187,215,000 after acquiring an additional 471,099 shares during the period. Institutional investors own 82.47% of the company’s stock.

Insiders Place Their Bets

In other Arista Networks news, Director Kelly Bodnar Battles sold 216 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $324.02, for a total transaction of $69,988.32. Following the sale, the director now directly owns 2,726 shares of the company’s stock, valued at $883,278.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Kelly Bodnar Battles sold 216 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $324.02, for a total transaction of $69,988.32. Following the sale, the director now directly owns 2,726 shares of the company’s stock, valued at $883,278.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jayshree Ullal sold 25,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $357.00, for a total transaction of $8,925,000.00. Following the sale, the chief executive officer now directly owns 1,595,800 shares in the company, valued at $569,700,600. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 106,989 shares of company stock valued at $37,891,416. 3.54% of the stock is currently owned by insiders.

Arista Networks Stock Performance

Shares of Arista Networks stock opened at $359.76 on Monday. The firm’s 50-day simple moving average is $341.07 and its 200-day simple moving average is $313.92. Arista Networks, Inc. has a twelve month low of $168.25 and a twelve month high of $376.50. The firm has a market cap of $113.02 billion, a P/E 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 data on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.38. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.41 earnings per share. On average, equities analysts forecast that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. KeyCorp lifted their target price on shares of Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Evercore ISI restated an “outperform” rating and set a $400.00 price objective on shares of Arista Networks in a report on Friday. Erste Group Bank restated a “buy” rating on shares of Arista Networks in a report on Friday, June 14th. Barclays boosted their price objective 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, Rosenblatt Securities boosted their price objective 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and an average target price of $358.63.

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.