Arista Networks, Inc. $ANET Shares Purchased by Proactive Wealth Strategies LLC

Proactive Wealth Strategies LLC lifted its position in Arista Networks, Inc. (NYSE:ANET) by 63.7% in the second quarter, HoldingsChannel reports. The firm owned 10,750 shares of the technology company’s stock after buying an additional 4,185 shares during the period. Proactive Wealth Strategies LLC’s holdings in Arista Networks were worth $1,100,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Penobscot Investment Management Company Inc. raised its holdings in Arista Networks by 7.8% in the second quarter. Penobscot Investment Management Company Inc. now owns 39,073 shares of the technology company’s stock valued at $3,998,000 after acquiring an additional 2,815 shares in the last quarter. Vanguard Group Inc. grew its holdings in Arista Networks by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 98,993,100 shares of the technology company’s stock worth $10,127,984,000 after acquiring an additional 1,136,167 shares in the last quarter. Soltis Investment Advisors LLC increased its position in shares of Arista Networks by 99.3% in the 2nd quarter. Soltis Investment Advisors LLC now owns 40,428 shares of the technology company’s stock valued at $4,136,000 after purchasing an additional 20,141 shares during the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of Arista Networks in the 2nd quarter valued at $212,000. Finally, OMNI 360 Wealth Inc. lifted its position in shares of Arista Networks by 71.5% during the 2nd quarter. OMNI 360 Wealth Inc. now owns 4,804 shares of the technology company’s stock worth $491,000 after purchasing an additional 2,003 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Morgan Stanley set a $171.00 target price on Arista Networks and gave the company an “overweight” rating in a report on Friday, October 10th. Weiss Ratings raised Arista Networks from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. BNP Paribas Exane raised Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 target price on the stock in a research report on Thursday, September 25th. Needham & Company LLC boosted their target price on Arista Networks from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. Finally, Citigroup upped their price target on Arista Networks from $136.00 to $176.00 and gave the company a “buy” rating in a report on Friday, September 12th. Eighteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.31.

Arista Networks Stock Performance

Arista Networks stock opened at $128.47 on Friday. The company has a market capitalization of $161.78 billion, a P/E ratio of 48.85, a PEG ratio of 2.46 and a beta of 1.41. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $164.94. The stock has a 50-day simple moving average of $140.79 and a 200-day simple moving average of $124.92.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.72 by $0.03. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the company posted $2.40 earnings per share. The firm’s revenue was up 27.5% compared to the same quarter last year. As a group, analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Buying and Selling at Arista Networks

In related news, CEO Jayshree Ullal sold 24,042 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total transaction of $2,994,431.10. Following the transaction, the chief executive officer owned 9,917 shares of the company’s stock, valued at $1,235,162.35. This trade represents a 70.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kelly Bodnar Battles sold 422 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $117.15, for a total value of $49,437.30. Following the sale, the director directly owned 8,980 shares of the company’s stock, valued at approximately $1,052,007. This represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,578,700 shares of company stock worth $231,687,618 in the last quarter. 3.39% of the stock is currently owned by company insiders.

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.