AustralianSuper Pty Ltd Has $4.35 Million Holdings in Arista Networks, Inc. (NYSE:ANET)

AustralianSuper Pty Ltd lifted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 34.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,338 shares of the technology company’s stock after buying an additional 2,930 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Arista Networks were worth $4,352,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Norden Group LLC bought a new stake in shares of Arista Networks in the 1st quarter valued at $1,024,000. Kovack Advisors Inc. acquired a new stake in shares of Arista Networks during the first quarter worth about $471,000. First Trust Direct Indexing L.P. lifted its holdings in shares of Arista Networks by 33.3% during the 1st quarter. First Trust Direct Indexing L.P. now owns 5,310 shares of the technology company’s stock valued at $1,540,000 after purchasing an additional 1,326 shares in the last quarter. J.W. Cole Advisors Inc. acquired a new position in shares of Arista Networks in the 1st quarter valued at approximately $312,000. Finally, Prosperity Consulting Group LLC lifted its position in Arista Networks by 32.4% during the 1st quarter. Prosperity Consulting Group LLC now owns 2,205 shares of the technology company’s stock worth $639,000 after buying an additional 539 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Arista Networks news, SVP Kenneth Duda sold 1,592 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $349.55, for a total value of $556,483.60. Following the sale, the senior vice president now owns 186,600 shares in the company, valued at $65,226,030. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other Arista Networks news, Director Kelly Bodnar Battles sold 373 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $396.48, for a total transaction of $147,887.04. Following the completion of the transaction, the director now owns 2,192 shares in the company, valued at approximately $869,084.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kenneth Duda sold 1,592 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $349.55, for a total transaction of $556,483.60. Following the completion of the sale, the senior vice president now directly owns 186,600 shares in the company, valued at approximately $65,226,030. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,522 shares of company stock worth $20,099,338 in the last three months. 3.54% of the stock is owned by corporate insiders.

Arista Networks Stock Performance

Arista Networks stock opened at $386.44 on Friday. Arista Networks, Inc. has a 52 week low of $187.68 and a 52 week high of $422.73. The stock has a market capitalization of $121.10 billion, a P/E ratio of 53.82, a price-to-earnings-growth ratio of 3.21 and a beta of 1.07. The stock has a fifty day moving average of $375.35 and a 200-day moving average of $337.82.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, topping the consensus estimate of $1.72 by $0.38. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the previous year, the firm earned $1.41 earnings per share. The business’s quarterly revenue was up 15.9% on a year-over-year basis. On average, research analysts forecast that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Needham & Company LLC reissued a “buy” rating and set a $375.00 price target on shares of Arista Networks in a research report on Wednesday, July 31st. Barclays raised their target price on shares of Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group increased their price target on shares of Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Piper Sandler upped their target price on shares of Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Finally, Rosenblatt Securities raised their target price on shares of Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $373.88.

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.