Kowal Investment Group LLC Purchases 492 Shares of Arista Networks, Inc. (NYSE:ANET)

Kowal Investment Group LLC increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 35.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,865 shares of the technology company’s stock after buying an additional 492 shares during the quarter. Kowal Investment Group LLC’s holdings in Arista Networks were worth $716,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP lifted its position in Arista Networks by 1.2% during the 4th quarter. Wellington Management Group LLP now owns 525,976 shares of the technology company’s stock worth $123,873,000 after buying an additional 6,402 shares in the last quarter. SageView Advisory Group LLC acquired a new position in Arista Networks during the fourth quarter valued at approximately $235,000. Nomura Holdings Inc. bought a new position in Arista Networks in the fourth quarter valued at approximately $1,193,000. NBC Securities Inc. raised its stake in shares of Arista Networks by 21.5% during the 1st quarter. NBC Securities Inc. now owns 215 shares of the technology company’s stock worth $62,000 after purchasing an additional 38 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in Arista Networks by 13.9% during the first quarter. Massmutual Trust Co. FSB ADV now owns 524 shares of the technology company’s stock worth $152,000 after acquiring an additional 64 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $406.30 on Thursday. The business’s 50 day simple moving average is $364.47 and its 200 day simple moving average is $330.06. Arista Networks, Inc. has a 1 year low of $168.25 and a 1 year high of $422.73. The company has a market capitalization of $127.32 billion, a P/E ratio of 56.59, a P/E/G ratio of 3.21 and a beta of 1.07.

Arista Networks (NYSE:ANET) last released 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. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. Arista Networks’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.41 EPS. On average, sell-side analysts anticipate that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on ANET shares. Wells Fargo & Company lifted their price objective on shares of Arista Networks from $340.00 to $390.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Bank of America upped their price objective on Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. UBS Group lifted their target price on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. JPMorgan Chase & Co. boosted their target price on Arista Networks from $335.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, Piper Sandler raised their price target on Arista Networks from $302.00 to $345.00 and gave the company a “neutral” rating in a report on Monday, July 15th. 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 company. According to MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and an average price target of $369.50.

Insider Buying and Selling at Arista Networks

In related news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the sale, the senior vice president now owns 3,244 shares in the company, valued at approximately $1,280,374.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the sale, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at approximately $1,280,374.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jayshree Ullal sold 832 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at approximately $5,624,679.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,197 shares of company stock valued at $21,326,894 in the last ninety days. 3.54% of the stock is currently owned by company insiders.

Arista Networks 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.