Global Trust Asset Management LLC Purchases 193 Shares of Arista Networks, Inc. (NYSE:ANET)

Global Trust Asset Management LLC lifted its position in Arista Networks, Inc. (NYSE:ANET) by 6.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,141 shares of the technology company’s stock after acquiring an additional 193 shares during the quarter. Global Trust Asset Management LLC’s holdings in Arista Networks were worth $1,206,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UniSuper Management Pty Ltd lifted its holdings in Arista Networks by 20.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 36,329 shares of the technology company’s stock valued at $10,535,000 after buying an additional 6,133 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in Arista Networks during the 1st quarter valued at about $1,405,000. M&G Plc bought a new stake in Arista Networks during the 1st quarter valued at about $3,238,000. Nordea Investment Management AB lifted its holdings in Arista Networks by 32.5% during the 1st quarter. Nordea Investment Management AB now owns 26,799 shares of the technology company’s stock valued at $7,810,000 after buying an additional 6,578 shares in the last quarter. Finally, Deepwater Asset Management LLC bought a new stake in Arista Networks during the 2nd quarter valued at about $15,084,000. Institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Performance

NYSE:ANET opened at $395.57 on Friday. The company has a fifty day moving average of $370.52 and a two-hundred day moving average of $333.77. The stock has a market capitalization of $123.96 billion, a PE ratio of 55.09, a P/E/G ratio of 3.21 and a beta of 1.07. Arista Networks, Inc. has a fifty-two week low of $168.25 and a fifty-two week high of $422.73.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.38. The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Arista Networks had a net margin of 39.01% and a return on equity of 30.50%. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.41 earnings per share. Research analysts forecast that Arista Networks, Inc. will post 7.38 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Marc Taxay sold 628 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $350.50, for a total transaction of $220,114.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Marc Taxay sold 628 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $350.50, for a total value of $220,114.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Kenneth Duda sold 1,592 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $349.55, for a total transaction of $556,483.60. Following the completion of the sale, the senior vice president now directly owns 186,600 shares of the company’s stock, valued at $65,226,030. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,570 shares of company stock worth $21,474,782. Company insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

ANET has been the subject of several recent research reports. Morgan Stanley boosted their price target 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. KeyCorp boosted their price target on shares of Arista Networks from $349.00 to $432.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Jefferies Financial Group boosted their price target on shares of Arista Networks from $340.00 to $380.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. UBS Group boosted their price target on shares of Arista Networks from $285.00 to $369.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Finally, The Goldman Sachs Group boosted their price target on shares of Arista Networks from $390.00 to $430.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and a consensus price target of $369.50.

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.