Mission Wealth Management LP Has $739,000 Stake in Arista Networks, Inc. $ANET

Mission Wealth Management LP raised its position in Arista Networks, Inc. (NYSE:ANET) by 6.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 7,225 shares of the technology company’s stock after purchasing an additional 455 shares during the period. Mission Wealth Management LP’s holdings in Arista Networks were worth $739,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Commonwealth Equity Services LLC lifted its position in shares of Arista Networks by 19.8% during the 1st quarter. Commonwealth Equity Services LLC now owns 613,309 shares of the technology company’s stock worth $47,519,000 after buying an additional 101,162 shares in the last quarter. Westfield Capital Management Co. LP bought a new stake in Arista Networks during the first quarter worth $15,227,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Arista Networks by 94.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 650,011 shares of the technology company’s stock worth $50,363,000 after acquiring an additional 316,309 shares during the period. Trilogy Capital Inc. lifted its holdings in Arista Networks by 13.7% during the first quarter. Trilogy Capital Inc. now owns 25,625 shares of the technology company’s stock worth $1,985,000 after acquiring an additional 3,079 shares during the period. Finally, Wedge Capital Management L L P NC bought a new stake in Arista Networks during the second quarter worth $212,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Down 0.1%

NYSE ANET opened at $157.49 on Tuesday. The company’s 50 day moving average is $146.21 and its 200-day moving average is $118.11. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $164.94. The firm has a market cap of $197.95 billion, a P/E ratio of 61.94, a price-to-earnings-growth ratio of 3.37 and a beta of 1.47.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, August 5th. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. Arista Networks had a net margin of 40.90% and a return on equity of 31.05%. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the previous year, the firm posted $0.53 EPS. The business’s revenue for the quarter was up 30.4% compared to the same quarter last year. Equities analysts expect that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analyst Ratings Changes

ANET has been the topic of a number of recent analyst reports. BNP Paribas Exane upgraded Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 target price on the stock in a research note on Thursday, September 25th. Barclays lifted their price objective on shares of Arista Networks from $151.00 to $179.00 and gave the stock an “overweight” rating in a research report on Friday, September 12th. Rosenblatt Securities lifted their price objective on shares of Arista Networks from $125.00 to $140.00 and gave the stock a “neutral” rating in a research report on Friday, September 12th. Evercore ISI lifted their price objective on shares of Arista Networks from $150.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, September 12th. Finally, Melius Research lifted their price target on shares of Arista Networks from $160.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Nineteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $163.94.

Insider Buying and Selling at Arista Networks

In other news, CEO Jayshree Ullal sold 1,247,688 shares of Arista Networks stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $148.53, for a total value of $185,319,098.64. Following the completion of the transaction, the chief executive officer directly owned 5,383,207 shares in the company, valued at approximately $799,567,735.71. The trade was a 18.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $147.49, for a total value of $1,179,920.00. Following the completion of the transaction, the director owned 41,784 shares of the company’s stock, valued at approximately $6,162,722.16. This trade represents a 16.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 4,325,040 shares of company stock valued at $611,632,257 in the last 90 days. 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.