Silver Oak Securities Incorporated Increases Stake in Arista Networks, Inc. (NYSE:ANET)

Silver Oak Securities Incorporated boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 1,248.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,750 shares of the technology company’s stock after purchasing an additional 3,472 shares during the period. Silver Oak Securities Incorporated’s holdings in Arista Networks were worth $1,426,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. UniSuper Management Pty Ltd lifted its stake in shares of Arista Networks by 20.3% in the 1st quarter. UniSuper Management Pty Ltd now owns 36,329 shares of the technology company’s stock valued at $10,535,000 after acquiring an additional 6,133 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in Arista Networks in the first quarter valued at approximately $1,405,000. M&G Plc purchased a new stake in shares of Arista Networks during the first quarter valued at approximately $3,238,000. Nordea Investment Management AB grew its holdings in shares of Arista Networks by 32.5% in the first quarter. Nordea Investment Management AB now owns 26,799 shares of the technology company’s stock worth $7,810,000 after purchasing an additional 6,578 shares during the last quarter. Finally, Deepwater Asset Management LLC purchased a new position in shares of Arista Networks in the second quarter worth $15,084,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Arista Networks news, CEO Jayshree Ullal sold 832 shares of Arista Networks stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $318.12, for a total value of $264,675.84. Following the completion of the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $5,624,679.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Marc Taxay sold 628 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $350.50, for a total value of $220,114.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jayshree Ullal sold 832 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $318.12, for a total transaction of $264,675.84. Following the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $5,624,679.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,570 shares of company stock worth $21,474,782 in the last three months. Insiders own 3.54% of the company’s stock.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $394.04 on Friday. The business has a fifty day moving average price of $371.30 and a 200-day moving average price of $334.19. The company has a market capitalization of $123.48 billion, a PE ratio of 54.88, a PEG ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a 1-year low of $168.25 and a 1-year high of $422.73.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share (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 business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the previous year, the company earned $1.41 earnings per share. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

ANET has been the topic of a number of recent analyst reports. Piper Sandler raised their price target on shares of Arista Networks from $302.00 to $345.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Evercore ISI upped their price target on Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Needham & Company LLC reiterated a “buy” rating and issued a $375.00 price objective on shares of Arista Networks in a report on Wednesday, July 31st. The Goldman Sachs Group upped their target price on Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, Jefferies Financial Group boosted their price objective on shares of Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $369.50.

Arista Networks Company Profile

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.