Rathbones Group PLC Grows Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Rathbones Group PLC lifted its position in Arista Networks, Inc. (NYSE:ANET) by 7.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,715 shares of the technology company’s stock after buying an additional 963 shares during the period. Rathbones Group PLC’s holdings in Arista Networks were worth $4,807,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Benjamin Edwards Inc. purchased a new stake in Arista Networks in the first quarter valued at about $26,000. Beacon Capital Management LLC raised its position in shares of Arista Networks by 500.0% in the 2nd quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after purchasing an additional 65 shares during the last quarter. LGT Financial Advisors LLC acquired a new stake in Arista Networks in the 2nd quarter worth approximately $27,000. Financial Synergies Wealth Advisors Inc. grew its position in Arista Networks by 872.7% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after purchasing an additional 96 shares during the last quarter. Finally, Byrne Asset Management LLC acquired a new position in Arista Networks during the 2nd quarter valued at approximately $33,000. Institutional investors own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

ANET has been the topic of a number of research analyst reports. Rosenblatt Securities boosted their price objective on shares of Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Piper Sandler boosted their price target on Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Citigroup raised their price objective on Arista Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. KeyCorp upped their target price on Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Finally, Bank of America raised their price target on shares of Arista Networks from $320.00 to $380.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $358.63.

Arista Networks Stock Up 1.2 %

NYSE:ANET opened at $359.76 on Monday. 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, 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.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, beating the consensus estimate of $1.72 by $0.38. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. Arista Networks’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the company earned $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.

Insider Activity at Arista Networks

In other Arista Networks news, SVP Marc Taxay sold 624 shares of the 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 filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Kenneth Duda sold 1,689 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $321.28, for a total transaction of $542,641.92. Following the completion of the sale, the senior vice president now directly owns 182,600 shares in the company, valued at $58,665,728. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Marc Taxay sold 624 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $354.71, for a total value of $221,339.04. 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.