Veracity Capital LLC Buys 188 Shares of Arista Networks, Inc. (NYSE:ANET)

Veracity Capital LLC increased its stake in Arista Networks, Inc. (NYSE:ANET) by 5.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,422 shares of the technology company’s stock after purchasing an additional 188 shares during the period. Veracity Capital LLC’s holdings in Arista Networks were worth $1,313,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Alta Wealth Advisors LLC acquired a new position in Arista Networks during the 3rd quarter valued at about $276,000. Chicago Capital LLC raised its stake in shares of Arista Networks by 7.8% during the third quarter. Chicago Capital LLC now owns 4,590 shares of the technology company’s stock worth $1,762,000 after buying an additional 331 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in Arista Networks by 8.1% in the third quarter. Commonwealth Equity Services LLC now owns 130,138 shares of the technology company’s stock valued at $49,949,000 after buying an additional 9,751 shares during the period. Legacy Financial Strategies LLC boosted its stake in Arista Networks by 6.3% in the third quarter. Legacy Financial Strategies LLC now owns 880 shares of the technology company’s stock valued at $338,000 after acquiring an additional 52 shares during the last quarter. Finally, Raymond James & Associates grew its holdings in Arista Networks by 1.2% during the 3rd quarter. Raymond James & Associates now owns 214,204 shares of the technology company’s stock worth $82,216,000 after acquiring an additional 2,566 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Down 1.3 %

Shares of ANET opened at $402.00 on Friday. Arista Networks, Inc. has a twelve month low of $168.25 and a twelve month high of $422.73. The stock has a market capitalization of $125.97 billion, a P/E ratio of 55.99, a P/E/G ratio of 3.21 and a beta of 1.07. The company has a 50 day moving average of $367.25 and a 200-day moving average of $331.59.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ANET shares. Rosenblatt Securities raised their price target on Arista Networks from $220.00 to $265.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. UBS Group raised their target price on Arista Networks from $285.00 to $369.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Evercore ISI upped their price target on Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. The Goldman Sachs Group lifted their price objective on shares of Arista Networks from $390.00 to $430.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Finally, Citigroup increased their target price on shares of Arista Networks from $385.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $369.50.

Insider Activity at Arista Networks

In other Arista Networks news, insider John F. Mccool sold 588 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $350.50, for a total transaction of $206,094.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider John F. Mccool sold 588 shares of Arista Networks stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $350.50, for a total value of $206,094.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $264,675.84. Following the completion of the sale, the chief executive officer now directly owns 17,681 shares in the company, valued at approximately $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. Over the last ninety days, insiders sold 58,197 shares of company stock valued at $21,326,894. Insiders own 3.54% of the company’s stock.

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.