3,859 Shares in Arista Networks, Inc. $ANET Bought by True North Advisors LLC

by · The Markets Daily

True North Advisors LLC acquired a new stake in Arista Networks, Inc. (NYSE:ANET – Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,859 shares of the technology company’s stock, valued at approximately $562,000.

Several other institutional investors have also recently made changes to their positions in ANET. Trust Co. of Vermont lifted its holdings in Arista Networks by 241.3% in the 3rd quarter. Trust Co. of Vermont now owns 983 shares of the technology company’s stock worth $143,000 after purchasing an additional 695 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Arista Networks by 68.5% during the third quarter. Farther Finance Advisors LLC now owns 30,810 shares of the technology company’s stock valued at $4,489,000 after buying an additional 12,521 shares during the last quarter. Parcion Private Wealth LLC lifted its holdings in shares of Arista Networks by 10.4% in the third quarter. Parcion Private Wealth LLC now owns 9,082 shares of the technology company’s stock worth $1,323,000 after buying an additional 857 shares in the last quarter. Patton Fund Management Inc. boosted its position in shares of Arista Networks by 602.7% during the third quarter. Patton Fund Management Inc. now owns 19,858 shares of the technology company’s stock worth $2,894,000 after acquiring an additional 17,032 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in Arista Networks by 25.1% during the third quarter. Exchange Traded Concepts LLC now owns 88,153 shares of the technology company’s stock valued at $12,845,000 after acquiring an additional 17,681 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analysts Set New Price Targets

ANET has been the subject of a number of research analyst reports. Needham & Company LLC raised their price objective on Arista Networks from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. Wells Fargo & Company upped their price objective on Arista Networks from $150.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. BNP Paribas upgraded shares of Arista Networks from a “hold” rating to an “outperform” rating in a research report on Thursday, September 25th. JPMorgan Chase & Co. boosted their target price on shares of Arista Networks from $150.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, September 12th. Finally, William Blair reiterated an “outperform” rating on shares of Arista Networks in a research report on Friday, September 12th. Seventeen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and an average target price of $163.56.

Check Out Our Latest Analysis on ANET

Arista Networks Trading Down 0.5%

ANET stock opened at $130.50 on Tuesday. The firm has a 50 day moving average of $135.92 and a 200-day moving average of $128.43. The firm has a market capitalization of $164.33 billion, a P/E ratio of 49.62, a price-to-earnings-growth ratio of 2.51 and a beta of 1.41. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $164.94.

Arista Networks (NYSE:ANET – Get Free Report) last posted its earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the firm posted $2.40 EPS. Arista Networks’s revenue was up 27.5% on a year-over-year basis. Sell-side analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $128.09, for a total value of $1,024,720.00. Following the transaction, the director directly owned 25,784 shares in the company, valued at $3,302,672.56. This represents a 23.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kenneth Duda sold 30,000 shares of the firm’s stock in a transaction dated Friday, October 17th. The shares were sold at an average price of $142.75, for a total value of $4,282,500.00. Following the completion of the sale, the insider directly owned 12,976 shares in the company, valued at approximately $1,852,324. The trade was a 69.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 216,464 shares of company stock valued at $28,598,588. 3.54% of the stock is currently owned by company insiders.

About Arista Networks

(Free Report)

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.

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