Ausdal Financial Partners Inc. Makes New $229,000 Investment in Arista Networks, Inc. (NYSE:ANET)

Ausdal Financial Partners Inc. purchased a new position in Arista Networks, Inc. (NYSE:ANET) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 652 shares of the technology company’s stock, valued at approximately $229,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. UniSuper Management Pty Ltd raised its position 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 purchasing an additional 6,133 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Arista Networks by 7.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 51,301 shares of the technology company’s stock valued at $12,082,000 after purchasing an additional 3,763 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Arista Networks in the 1st quarter valued at approximately $1,405,000. M&G Plc acquired a new position in shares of Arista Networks in the 1st quarter valued at approximately $3,238,000. Finally, Nordea Investment Management AB raised its position in shares of Arista Networks by 32.5% in the 1st quarter. Nordea Investment Management AB now owns 26,799 shares of the technology company’s stock valued at $7,810,000 after purchasing an additional 6,578 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Insider Transactions at Arista Networks

In other news, CEO Jayshree Ullal sold 832 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $337.23, for a total value of $280,575.36. Following the completion of the transaction, the chief executive officer now owns 17,681 shares of the company’s stock, valued at $5,962,563.63. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $352.93, for a total transaction of $705,860.00. Following the completion of the transaction, the director now owns 52,946 shares of the company’s stock, valued at $18,686,231.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jayshree Ullal sold 832 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $337.23, for a total value of $280,575.36. Following the transaction, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at approximately $5,962,563.63. The disclosure for this sale can be found here. Over the last quarter, insiders sold 126,300 shares of company stock valued at $44,194,544. 3.54% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ANET shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $375.00 target price on shares of Arista Networks in a research report on Wednesday, July 31st. Bank of America upped their target price on Arista Networks from $320.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Morgan Stanley upped their price target on Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. Rosenblatt Securities upped their price target on Arista Networks from $220.00 to $265.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. upped their price target on Arista Networks from $335.00 to $340.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $358.63.

Arista Networks Price Performance

Shares of ANET opened at $324.91 on Tuesday. The company has a market cap of $102.07 billion, a P/E ratio of 45.25, a PEG ratio of 2.48 and a beta of 1.07. The stock has a fifty day moving average price of $342.45 and a 200 day moving average price of $311.82. Arista Networks, Inc. has a 12 month low of $168.25 and a 12 month high of $376.50.

Arista Networks (NYSE:ANET) last released its quarterly 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 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 analysts’ expectations of $1.66 billion. During the same quarter in the prior year, the business posted $1.41 earnings per share. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, research analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

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.