Nisa Investment Advisors LLC Acquires 1,610 Shares of Arista Networks, Inc. (NYSE:ANET)

Nisa Investment Advisors LLC grew its position in Arista Networks, Inc. (NYSE:ANET) by 4.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,461 shares of the technology company’s stock after purchasing an additional 1,610 shares during the period. Nisa Investment Advisors LLC’s holdings in Arista Networks were worth $13,227,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. GQG Partners LLC purchased a new stake in shares of Arista Networks in the first quarter valued at about $881,848,000. Legal & General Group Plc raised its holdings in shares of Arista Networks by 0.9% in the second quarter. Legal & General Group Plc now owns 2,195,733 shares of the technology company’s stock valued at $769,560,000 after purchasing an additional 20,278 shares during the last quarter. Swedbank AB purchased a new stake in shares of Arista Networks in the first quarter valued at about $521,767,000. Ameriprise Financial Inc. raised its holdings in shares of Arista Networks by 97.2% in the second quarter. Ameriprise Financial Inc. now owns 1,794,586 shares of the technology company’s stock valued at $628,966,000 after purchasing an additional 884,703 shares during the last quarter. Finally, TD Asset Management Inc raised its holdings in shares of Arista Networks by 18.7% in the first quarter. TD Asset Management Inc now owns 943,694 shares of the technology company’s stock valued at $273,652,000 after purchasing an additional 148,759 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ANET. KeyCorp raised their price objective on shares of Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Needham & Company LLC restated a “buy” rating and set a $375.00 price objective on shares of Arista Networks in a report on Wednesday, July 31st. Rosenblatt Securities raised their price objective on shares of Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. Evercore ISI raised their price objective on shares of Arista Networks from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, Jefferies Financial Group raised their price objective on shares of Arista Networks from $340.00 to $380.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $369.50.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Marc Taxay sold 628 shares of Arista Networks stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $350.50, for a total transaction of $220,114.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Arista Networks news, insider John F. Mccool sold 588 shares of Arista Networks stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $350.50, for a total transaction of $206,094.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Marc Taxay sold 628 shares of Arista Networks stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $350.50, for a total transaction of $220,114.00. The disclosure for this sale can be found here. Insiders sold a total of 58,570 shares of company stock worth $21,474,782 over the last three months. 3.54% of the stock is owned by insiders.

Arista Networks Trading Up 2.3 %

ANET stock opened at $401.57 on Wednesday. The firm has a 50 day moving average of $373.86 and a 200-day moving average of $337.07. Arista Networks, Inc. has a 12 month low of $174.59 and a 12 month high of $422.73. The firm has a market capitalization of $125.84 billion, a P/E ratio of 55.93, a price-to-earnings-growth ratio of 3.21 and a beta of 1.07.

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 analysts’ consensus estimates of $1.72 by $0.38. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period last year, the business earned $1.41 earnings per share. Arista Networks’s revenue was up 15.9% compared to the same quarter last year. Sell-side analysts predict that Arista Networks, Inc. will post 7.38 EPS 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.