Savant Capital LLC increased its position in shares of Arista Networks, Inc. (NYSE:ANET)

Savant Capital LLC grew its stake in Arista Networks, Inc. (NYSE:ANET – Free Report) by 48.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,406 shares of the technology company’s stock after acquiring an additional 4,041 shares during the period. Savant Capital LLC’s holdings in Arista Networks were worth $4,348,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ANET. Vanguard Group Inc. grew its stake in Arista Networks by 5.7% in 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 acquiring an additional 1,596,040 shares in the last quarter. Capital World Investors raised its position 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 buying an additional 55,312 shares in the last quarter. WCM Investment Management LLC boosted its stake in Arista Networks by 0.8% in the first quarter. WCM Investment Management LLC now owns 3,049,416 shares of the technology company’s stock valued at $884,270,000 after purchasing an additional 25,196 shares during the last quarter. GQG Partners LLC purchased a new stake in Arista Networks during the first quarter valued at $881,848,000. Finally, Norges Bank acquired a new position in Arista Networks in the fourth quarter valued at $586,051,000. Hedge funds and other institutional investors own 82.47% of the company’s shares.

Arista Networks Price Performance

Shares of Arista Networks opened at $314.31 on Friday. The company has a market cap of $98.49 billion, a price-to-earnings ratio of 43.78, a price-to-earnings-growth ratio of 2.78 and a beta of 1.07. Arista Networks, Inc. has a 12-month low of $168.25 and a 12-month high of $376.50. The stock’s 50-day moving average is $343.09 and its 200-day moving average is $311.03.

Arista Networks (NYSE:ANET – Get Free Report ) last posted its quarterly 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 net margin of 39.01% and a return on equity of 30.50%. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. In the same quarter last year, the company posted earnings per share of $1.41. Arista Networks’s revenue for the quarter was up 15.9% compared to the same quarter last year. Research analysts anticipate that Arista Networks, Inc. will post 7.38 EPS for the current year.

Analysts set new price targets

Several brokerages have recently issued reports on ANET. UBS Group boosted their price objective on Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research report on Wednesday. Barclays upped their target price on shares of Arista Networks from $320.00 to $341.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price objective on shares of Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Jefferies Financial Group upped their target price on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $375.00 target price on shares of Arista Networks in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company. The stock presently has a consensus rating of “Moderate Buy” and an average target price of $358.63, according to data from MarketBeat.

Check out our latest analysis on ANET

Insider activity at Arista Networks

In related news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction on 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 sale, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $1,202,550.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC’s website. In other news, Director Kelly Bodnar Battles sold 216 shares of the business’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 transaction, the director now directly owns 2,726 shares of the company’s stock, valued at $883,278.52. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Also, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $370.70, for a total transaction of $7,414,000.00. Following the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $1,202,550.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 126,300 shares of company stock worth $44,194,544. 3.54% of shares are currently owned by corporate insiders.

Arista Networks profile

(Free report)

Arista Networks, Inc is engaged 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, Middle East, Africa and Asia-Pacific. Its cloud networking solutions consist of the Extensible Operating System (EOS), a stateful publish-subscribe network operating system delivered in combination with a set of network applications.

See Also

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