Vanguard Personalized Indexing Management LLC Acquires 2,735 Shares of Arista Networks, Inc. (NYSE:ANET)

Vanguard Personalized Indexing Management LLC raised its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 11.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,052 shares of the technology company’s stock after purchasing an additional 2,735 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Arista Networks were worth $9,054,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its position in Arista Networks by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 29,494,876 shares of the technology company’s stock valued at $6,946,338,000 after purchasing an additional 1,596,040 shares during the last quarter. Capital World Investors grew its holdings in shares of Arista Networks by 0.5% during the 4th quarter. Capital World Investors now owns 10,136,348 shares of the technology company’s stock worth $2,387,211,000 after acquiring an additional 55,312 shares during the period. WCM Investment Management LLC grew its holdings in shares of Arista Networks by 0.8% during the 1st quarter. WCM Investment Management LLC now owns 3,049,416 shares of the technology company’s stock worth $884,270,000 after acquiring an additional 25,196 shares during the period. GQG Partners LLC purchased a new position in shares of Arista Networks during the 1st quarter worth approximately $881,848,000. Finally, Swedbank AB purchased a new stake in shares of Arista Networks in the 1st quarter worth approximately $521,767,000. Institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Up 0.5 %

NYSE:ANET opened at $360.97 on Wednesday. The stock has a market cap of $113.11 billion, a PE ratio of 50.27, a P/E/G ratio of 2.70 and a beta of 1.07. The business’s 50-day simple moving average is $340.74 and its two-hundred day simple moving average is $315.02. Arista Networks, Inc. has a 52 week low of $168.25 and a 52 week high of $376.50.

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, beating analysts’ consensus estimates of $1.72 by $0.38. The firm had revenue of $1.69 billion during 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%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.41 earnings per share. Sell-side analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ANET. JPMorgan Chase & Co. increased their target price on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Needham & Company LLC reissued a “buy” rating and set a $375.00 price target on shares of Arista Networks in a report on Wednesday, July 31st. Jefferies Financial Group increased their price target on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Piper Sandler increased their price target on Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Finally, Bank of America increased their price target on Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a report on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and a consensus price target of $358.63.

Insider Activity

In related news, CEO Jayshree Ullal sold 25,000 shares of Arista Networks stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $357.00, for a total value of $8,925,000.00. Following the completion of the transaction, the chief executive officer now owns 1,595,800 shares in the company, valued at $569,700,600. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $370.70, for a total value of $7,414,000.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares in the company, valued at $1,202,550.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 sale, the chief executive officer now directly owns 1,595,800 shares of the company’s stock, valued at approximately $569,700,600. The disclosure for this sale can be found here. Insiders sold a total of 106,989 shares of company stock worth $37,891,416 over the last 90 days. Corporate insiders own 3.54% of the company’s stock.

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.