1st Global Advisors Inc. Purchases 2,933 Shares of Arista Networks, Inc. (ANET)

1st Global Advisors Inc. increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 47.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,147 shares of the technology company’s stock after acquiring an additional 2,933 shares during the quarter. 1st Global Advisors Inc.’s holdings in Arista Networks were worth $1,370,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its position in shares of Arista Networks by 20.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 740 shares of the technology company’s stock valued at $111,000 after acquiring an additional 126 shares during the last quarter. LS Investment Advisors LLC acquired a new position in shares of Arista Networks during the 2nd quarter valued at about $119,000. D.A. Davidson & CO. boosted its position in shares of Arista Networks by 3.2% during the 2nd quarter. D.A. Davidson & CO. now owns 982 shares of the technology company’s stock valued at $147,000 after acquiring an additional 30 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Arista Networks during the 1st quarter valued at about $164,000. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Arista Networks during the 2nd quarter valued at about $202,000. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have recently weighed in on ANET shares. Barclays PLC boosted their price target on shares of Arista Networks from $161.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, June 15th. BMO Capital Markets boosted their price target on shares of Arista Networks from $155.00 to $167.00 and gave the company an “outperform” rating in a research report on Monday, June 19th. Pacific Crest reissued an “overweight” rating and set a $168.00 price target (up previously from $145.00) on shares of Arista Networks in a research report on Sunday, June 25th. BidaskClub cut shares of Arista Networks from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 4th. Finally, Instinet cut shares of Arista Networks from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 4th. Fifteen investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $166.49.

In other Arista Networks news, SVP Kenneth Duda sold 8,827 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $168.06, for a total value of $1,483,465.62. Following the transaction, the senior vice president now directly owns 1,202 shares of the company’s stock, valued at approximately $202,008.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Marc Taxay sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $150.43, for a total value of $300,860.00. Following the completion of the transaction, the senior vice president now directly owns 11,775 shares in the company, valued at $1,771,313.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 423,809 shares of company stock worth $73,090,013. 28.09% of the stock is currently owned by corporate insiders.

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Arista Networks, Inc. (ANET) traded down 0.50% during mid-day trading on Friday, hitting $190.25. 262,315 shares of the company were exchanged. Arista Networks, Inc. has a 12 month low of $79.05 and a 12 month high of $196.27. The stock has a market cap of $13.80 billion, a price-to-earnings ratio of 49.10 and a beta of 1.31. The firm has a 50 day moving average price of $182.30 and a 200 day moving average price of $157.56.

Arista Networks (NYSE:ANET) last announced its earnings results on Thursday, August 3rd. The technology company reported $1.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.15. Arista Networks had a return on equity of 22.64% and a net margin of 21.74%. The company had revenue of $405.21 million for the quarter, compared to analyst estimates of $361.02 million. During the same period in the prior year, the company posted $0.74 EPS. Arista Networks’s quarterly revenue was up 50.8% on a year-over-year basis. Analysts anticipate that Arista Networks, Inc. will post $4.70 EPS for the current fiscal year.

About Arista Networks

Arista Networks, Inc is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.

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

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