First Trust Direct Indexing L.P. Boosts Stake in Arista Networks, Inc. (NYSE:ANET)

First Trust Direct Indexing L.P. lifted its holdings in Arista Networks, Inc. (NYSE:ANET) by 4.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,766 shares of the technology company’s stock after buying an additional 300 shares during the period. First Trust Direct Indexing L.P.’s holdings in Arista Networks were worth $2,597,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of Arista Networks by 3,483.0% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 28,198 shares of the technology company’s stock worth $11,158,000 after purchasing an additional 27,411 shares during the period. Mutual Advisors LLC boosted its holdings in Arista Networks by 13.1% in the 3rd quarter. Mutual Advisors LLC now owns 5,154 shares of the technology company’s stock valued at $2,039,000 after purchasing an additional 595 shares during the period. Childress Capital Advisors LLC grew its position in Arista Networks by 13.6% during the third quarter. Childress Capital Advisors LLC now owns 983 shares of the technology company’s stock worth $377,000 after buying an additional 118 shares in the last quarter. GW Henssler & Associates Ltd. increased its position in shares of Arista Networks by 3.6% in the third quarter. GW Henssler & Associates Ltd. now owns 63,244 shares of the technology company’s stock worth $24,274,000 after purchasing an additional 2,219 shares during the last quarter. Finally, Strategic Blueprint LLC purchased a new stake in shares of Arista Networks during the 3rd quarter valued at $266,000. 82.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Arista Networks news, Director Kelly Bodnar Battles sold 216 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $324.02, for a total transaction of $69,988.32. Following the transaction, the director now owns 2,726 shares in the company, valued at approximately $883,278.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Jayshree Ullal sold 832 shares of the business’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 sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at $5,624,679.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kelly Bodnar Battles sold 216 shares of Arista Networks stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $324.02, for a total transaction of $69,988.32. Following the transaction, the director now owns 2,726 shares of the company’s stock, valued at $883,278.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,354 shares of company stock worth $20,364,014 over the last three months. Company insiders own 3.54% of the company’s stock.

Arista Networks Stock Down 1.4 %

Shares of ANET stock opened at $395.98 on Thursday. The firm has a market capitalization of $124.09 billion, a price-to-earnings ratio of 55.15, a PEG ratio of 3.21 and a beta of 1.07. The stock has a fifty day moving average of $374.66 and a 200 day moving average of $337.48. Arista Networks, Inc. has a 52 week low of $187.68 and a 52 week high of $422.73.

Arista Networks (NYSE:ANET) last announced its earnings results on Tuesday, July 30th. The technology company reported $2.10 earnings per share 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 firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the previous year, the firm posted $1.41 EPS. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. Equities research analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on ANET shares. Wells Fargo & Company increased their price objective on Arista Networks from $390.00 to $460.00 and gave the company an “overweight” rating in a research report on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $375.00 price target on shares of Arista Networks in a research note on Wednesday, July 31st. Evercore ISI upped their price objective on shares of Arista Networks from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Morgan Stanley increased their target price on shares of Arista Networks from $325.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Finally, KeyCorp boosted their price target on shares of Arista Networks from $349.00 to $432.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. One research 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $373.88.

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.