International Assets Investment Management LLC Raises Holdings in Arista Networks, Inc. (NYSE:ANET)

International Assets Investment Management LLC increased its holdings in Arista Networks, Inc. (NYSE:ANET) by 39,841.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 875,110 shares of the technology company’s stock after acquiring an additional 872,919 shares during the period. International Assets Investment Management LLC owned approximately 0.28% of Arista Networks worth $3,358,850,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. First Affirmative Financial Network boosted its position in shares of Arista Networks by 4.3% during the third quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock worth $262,000 after buying an additional 28 shares during the period. FCG Investment Co boosted its position in shares of Arista Networks by 2.3% during the second quarter. FCG Investment Co now owns 1,271 shares of the technology company’s stock worth $445,000 after buying an additional 29 shares during the period. Everpar Advisors LLC boosted its position in shares of Arista Networks by 1.5% during the third quarter. Everpar Advisors LLC now owns 1,907 shares of the technology company’s stock worth $732,000 after buying an additional 29 shares during the period. Foundations Investment Advisors LLC boosted its position in shares of Arista Networks by 5.0% during the third quarter. Foundations Investment Advisors LLC now owns 653 shares of the technology company’s stock worth $251,000 after buying an additional 31 shares during the period. Finally, Old Port Advisors raised its stake in shares of Arista Networks by 3.5% in the first quarter. Old Port Advisors now owns 955 shares of the technology company’s stock valued at $277,000 after acquiring an additional 32 shares in the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $394.69, for a total transaction of $7,893,800.00. Following the transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at $1,280,374.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, SVP Marc Taxay sold 628 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $350.50, for a total transaction of $220,114.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Kenneth Duda sold 20,000 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $394.69, for a total value of $7,893,800.00. Following the transaction, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $1,280,374.36. This represents 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 over the last quarter. 3.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ANET has been the topic of several analyst reports. Rosenblatt Securities increased their price objective on Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. increased their price objective on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Barclays increased their price objective on Arista Networks from $320.00 to $341.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. KeyCorp increased their price objective on Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Finally, Citigroup increased their price objective on Arista Networks from $385.00 to $460.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $369.50.

Arista Networks Stock Performance

ANET opened at $394.00 on Thursday. The business’s 50-day simple moving average is $370.52 and its 200-day simple moving average is $333.77. Arista Networks, Inc. has a one year low of $168.25 and a one year high of $422.73. The stock has a market capitalization of $123.47 billion, a P/E ratio of 54.87, a price-to-earnings-growth ratio of 3.21 and a beta of 1.07.

Arista Networks (NYSE:ANET) last posted its earnings results on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the firm earned $1.41 earnings per share. The business’s revenue was up 15.9% compared to the same quarter last year. On average, equities research analysts forecast that Arista Networks, Inc. will post 7.38 EPS for the current fiscal year.

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.