Arista Networks, Inc. (NYSE:ANET) Shares Acquired by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co grew its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 0.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,384 shares of the technology company’s stock after acquiring an additional 222 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Arista Networks were worth $8,546,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. FCG Investment Co increased its stake in Arista Networks by 2.3% during the 2nd quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock valued at $445,000 after purchasing an additional 29 shares in the last quarter. Old Port Advisors grew its holdings in shares of Arista Networks by 3.5% during the first quarter. Old Port Advisors now owns 955 shares of the technology company’s stock valued at $277,000 after buying an additional 32 shares during the last quarter. Fortitude Family Office LLC increased its position in shares of Arista Networks by 33.3% in the 2nd quarter. Fortitude Family Office LLC now owns 132 shares of the technology company’s stock valued at $46,000 after acquiring an additional 33 shares during the period. Resonant Capital Advisors LLC raised its stake in Arista Networks by 4.1% in the 2nd quarter. Resonant Capital Advisors LLC now owns 870 shares of the technology company’s stock worth $305,000 after acquiring an additional 34 shares during the last quarter. Finally, Modera Wealth Management LLC lifted its position in Arista Networks by 2.1% during the 2nd quarter. Modera Wealth Management LLC now owns 1,782 shares of the technology company’s stock worth $625,000 after acquiring an additional 37 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Arista Networks

In related news, SVP Kenneth Duda sold 1,689 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $321.28, for a total value of $542,641.92. Following the sale, the senior vice president now directly owns 182,600 shares in the company, valued at approximately $58,665,728. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Jayshree Ullal sold 25,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $357.00, for a total transaction of $8,925,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,595,800 shares in the company, valued at approximately $569,700,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kenneth Duda sold 1,689 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $321.28, for a total transaction of $542,641.92. Following the completion of the transaction, the senior vice president now directly 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 ninety days, insiders sold 106,989 shares of company stock worth $37,891,416. 3.54% of the stock is currently owned by company insiders.

Arista Networks Price Performance

Shares of ANET stock opened at $360.97 on Wednesday. The company has a market capitalization of $113.11 billion, a PE ratio of 50.27, a price-to-earnings-growth ratio of 2.70 and a beta of 1.07. The firm’s 50-day moving average is $340.74 and its two-hundred day moving average is $315.02. Arista Networks, Inc. has a 12 month low of $168.25 and a 12 month high of $376.50.

Arista Networks (NYSE:ANET) last released its quarterly earnings results 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 firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.41 EPS. Sell-side analysts forecast that Arista Networks, Inc. will post 7.38 EPS for the current year.

Wall Street Analysts Forecast Growth

ANET has been the subject of a number of recent research reports. Erste Group Bank reissued a “buy” rating on shares of Arista Networks in a research report on Friday, June 14th. Wells Fargo & Company boosted their target price on shares of Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. KeyCorp increased their price target on Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Citigroup lifted their price objective on Arista Networks from $330.00 to $385.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Finally, Evercore ISI restated an “outperform” rating and issued a $400.00 target price on shares of Arista Networks in a research note on Friday, September 13th. One investment 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.