Strategic Blueprint LLC Acquires New Holdings in Arista Networks, Inc. (NYSE:ANET)

Strategic Blueprint LLC bought a new position in Arista Networks, Inc. (NYSE:ANETFree Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 693 shares of the technology company’s stock, valued at approximately $266,000.

Several other hedge funds have also modified their holdings of the company. First Affirmative Financial Network grew its stake in Arista Networks by 4.3% during the 3rd quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock worth $262,000 after buying an additional 28 shares during the last quarter. FCG Investment Co grew its stake in shares of Arista Networks by 2.3% during the second quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock worth $445,000 after acquiring an additional 29 shares during the last quarter. Everpar Advisors LLC increased its holdings in shares of Arista Networks by 1.5% during the third quarter. Everpar Advisors LLC now owns 1,907 shares of the technology company’s stock valued at $732,000 after acquiring an additional 29 shares in the last quarter. Foundations Investment Advisors LLC raised its position in shares of Arista Networks by 5.0% in the 3rd quarter. Foundations Investment Advisors LLC now owns 653 shares of the technology company’s stock valued at $251,000 after purchasing an additional 31 shares during the last quarter. Finally, Old Port Advisors boosted its stake in Arista Networks by 3.5% in the 1st quarter. Old Port Advisors now owns 955 shares of the technology company’s stock worth $277,000 after purchasing an additional 32 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

Arista Networks Stock Performance

Shares of Arista Networks stock opened at $394.23 on Friday. The firm has a 50-day simple moving average of $376.13 and a two-hundred day simple moving average of $338.73. Arista Networks, Inc. has a fifty-two week low of $203.19 and a fifty-two week high of $422.73. The company has a market cap of $123.85 billion, a P/E ratio of 51.13, a price-to-earnings-growth ratio of 3.49 and a beta of 1.07.

Arista Networks (NYSE:ANETGet Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the business posted $1.41 earnings per share. Arista Networks’s revenue for the quarter was up 15.9% on a year-over-year basis. Equities research analysts forecast that Arista Networks, Inc. will post 7.42 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ANET shares. JPMorgan Chase & Co. upped their price target on shares of Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Piper Sandler raised their target price on Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Jefferies Financial Group boosted their price target on Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Needham & Company LLC restated a “buy” rating and issued a $375.00 price objective on shares of Arista Networks in a research note on Wednesday, July 31st. Finally, Barclays lifted their target price on Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and a consensus target price of $373.88.

Get Our Latest Analysis on ANET

Insider Transactions at Arista Networks

In related news, SVP Kenneth Duda sold 1,689 shares of Arista Networks stock in a transaction on 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 owns 182,600 shares of the company’s stock, valued at approximately $58,665,728. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Arista Networks news, Director Kelly Bodnar Battles sold 216 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $324.02, for a total transaction of $69,988.32. Following the completion of the transaction, the director now owns 2,726 shares of the company’s stock, valued at $883,278.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 value of $542,641.92. Following the completion of the transaction, the senior vice president now owns 182,600 shares in the company, valued at approximately $58,665,728. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,522 shares of company stock valued at $20,099,338 in the last three months. 3.54% of the stock is currently owned by company insiders.

About Arista Networks

(Free Report)

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.

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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