Secure Asset Management LLC Invests $284,000 in Arista Networks, Inc. (NYSE:ANET)

Secure Asset Management LLC acquired a new stake in Arista Networks, Inc. (NYSE:ANET) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 739 shares of the technology company’s stock, valued at approximately $284,000.

Several other hedge funds have also recently added to or reduced their stakes in ANET. Benjamin Edwards Inc. bought a new stake in shares of Arista Networks in the 1st quarter valued at about $26,000. Beacon Capital Management LLC increased its stake in Arista Networks by 500.0% in the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company’s stock valued at $27,000 after purchasing an additional 65 shares in the last quarter. LGT Financial Advisors LLC acquired a new stake in Arista Networks in the second quarter worth $27,000. Financial Synergies Wealth Advisors Inc. boosted its position in shares of Arista Networks by 872.7% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 107 shares of the technology company’s stock worth $31,000 after purchasing an additional 96 shares in the last quarter. Finally, Byrne Asset Management LLC acquired a new position in shares of Arista Networks in the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Activity

In other news, CEO Jayshree Ullal sold 832 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $318.12, for a total value of $264,675.84. Following the sale, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at approximately $5,624,679.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of Arista Networks stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 3,244 shares of the company’s stock, valued at $1,280,374.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction 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 dated 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 in the company, valued at $5,624,679.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,197 shares of company stock valued at $21,326,894 in the last quarter. Company insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on ANET. The Goldman Sachs Group raised their price objective on Arista Networks from $390.00 to $430.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Rosenblatt Securities lifted their price objective on Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Citigroup increased their target price on Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. UBS Group lifted their price target on shares of Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Finally, Jefferies Financial Group increased their price objective on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and a consensus price target of $369.50.

Arista Networks Stock Performance

Shares of NYSE ANET opened at $402.00 on Friday. The stock has a 50 day moving average price of $367.25 and a 200 day moving average price of $331.31. The stock has a market capitalization of $125.97 billion, a PE ratio of 55.99, a price-to-earnings-growth ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a 52 week low of $168.25 and a 52 week high of $422.73.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 EPS for the quarter, beating the consensus estimate of $1.72 by $0.38. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the firm posted $1.41 EPS. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, research analysts forecast that Arista Networks, Inc. will post 7.38 EPS for the current year.

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.