Inspire Advisors LLC Acquires 8,226 Shares of Arista Networks, Inc. (NYSE:ANET)

Inspire Advisors LLC boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 318.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,811 shares of the technology company’s stock after purchasing an additional 8,226 shares during the period. Arista Networks comprises 0.5% of Inspire Advisors LLC’s holdings, making the stock its 19th biggest holding. Inspire Advisors LLC’s holdings in Arista Networks were worth $4,149,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in Arista Networks by 1.2% during the 4th quarter. Wellington Management Group LLP now owns 525,976 shares of the technology company’s stock valued at $123,873,000 after purchasing an additional 6,402 shares in the last quarter. SageView Advisory Group LLC acquired a new stake in shares of Arista Networks in the fourth quarter worth $235,000. Nomura Holdings Inc. acquired a new stake in shares of Arista Networks in the fourth quarter worth $1,193,000. NBC Securities Inc. increased its stake in shares of Arista Networks by 21.5% in the first quarter. NBC Securities Inc. now owns 215 shares of the technology company’s stock worth $62,000 after acquiring an additional 38 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of Arista Networks by 13.9% in the first quarter. Massmutual Trust Co. FSB ADV now owns 524 shares of the technology company’s stock worth $152,000 after acquiring an additional 64 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Insider Transactions at Arista Networks

In other news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $394.69, for a total value of $7,893,800.00. Following the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $1,280,374.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Kelly Bodnar Battles sold 216 shares of the firm’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 completion of the sale, the director now directly owns 2,726 shares in the company, valued at approximately $883,278.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the sale, the senior vice president now owns 3,244 shares of the company’s stock, valued at approximately $1,280,374.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,197 shares of company stock valued at $21,326,894. Corporate insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ANET. Wells Fargo & Company increased their price objective on shares of Arista Networks from $340.00 to $390.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. UBS Group increased their price objective on shares of Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Morgan Stanley raised their price target on shares of Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. The Goldman Sachs Group raised their price target on shares of Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Finally, Piper Sandler raised their price target on shares of Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $369.50.

Arista Networks Trading Down 1.3 %

ANET traded down $5.12 during midday trading on Friday, hitting $402.27. 429,513 shares of the company traded hands, compared to its average volume of 2,232,955. The company has a market capitalization of $126.06 billion, a price-to-earnings ratio of 56.11, a PEG ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a 52-week low of $168.25 and a 52-week high of $422.73. The business has a 50 day simple moving average of $365.93 and a two-hundred day simple moving average of $330.60.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results 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 the consensus estimate of $1.66 billion. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period last year, the firm posted $1.41 earnings per share. Equities research analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

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.