Toroso Investments LLC Boosts Holdings in Arista Networks, Inc. (NYSE:ANET)

Posted by Defense World Staff on Sep 18th, 2023

Toroso Investments LLC raised its holdings in Arista Networks, Inc. (NYSE:ANET – Free Report) by 9.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,171 shares of the technology company’s stock after buying an additional 603 shares during the quarter. Toroso Investments LLC’s holdings in Arista Networks were worth $1,204,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Raleigh Capital Management Inc. grew its holdings in Arista Networks by 55.7% in the 1st quarter. Raleigh Capital Management Inc. now owns 302 shares of the technology company’s stock valued at $51,000 after buying an additional 108 shares during the period. Arete Wealth Advisors LLC purchased a new stake in shares of Arista Networks during the 1st quarter worth about $517,000. Ameriprise Financial Inc. grew its holdings in shares of Arista Networks by 54.5% during the 1st quarter. Ameriprise Financial Inc. now owns 1,675,814 shares of the technology company’s stock worth $281,303,000 after purchasing an additional 591,174 shares during the period. SkyView Investment Advisors LLC purchased a new stake in shares of Arista Networks during the 1st quarter worth about $304,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Arista Networks by 6.2% during the 1st quarter. JPMorgan Chase & Co. now owns 2,285,159 shares of the technology company’s stock worth $383,585,000 after purchasing an additional 133,573 shares during the period. Hedge funds and other institutional investors own 67.13% of the company’s stock.

Insider Activity at Arista Networks

In related news, SVP Marc Taxay sold 1,040 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $161.34, for a total transaction of $167,793.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Anshul Sadana sold 13,504 shares of the stock in a transaction on Monday, July 17th. The stock was sold at an average price of $170.05, for a total value of $2,296,355.20. Following the completion of the transaction, the chief operating officer now owns 30,082 shares of the company’s stock, valued at $5,115,444.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Marc Taxay sold 1,040 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $161.34, for a total value of $167,793.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 141,212 shares of company stock valued at $25,709,648. Corporate insiders own 18.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. BNP Paribas assumed coverage on Arista Networks in a report on Thursday, July 20th. They set an “outperform” rating and a $210.00 target price for the company. Rosenblatt Securities boosted their price target on Arista Networks from $190.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday. The Goldman Sachs Group boosted their price target on Arista Networks from $193.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Morgan Stanley boosted their price target on Arista Networks from $150.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 1st. Finally, JMP Securities reissued a “market outperform” rating and set a $200.00 price target on shares of Arista Networks in a research report on Tuesday, August 1st. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and an average target price of $199.40.

View Our Latest Report on ANET

Arista Networks Trading Down 1.5 %

ANET stock opened at $184.72 on Monday. The firm has a market cap of $57.19 billion, a P/E ratio of 34.14, a P/E/G ratio of 1.83 and a beta of 1.17. Arista Networks, Inc. has a 12-month low of $98.20 and a 12-month high of $198.70. The stock’s 50 day simple moving average is $179.32 and its 200 day simple moving average is $163.97.

Arista Networks (NYSE:ANET – Get Free Report) last posted its quarterly earnings results on Monday, July 31st. The technology company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.29. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.38 billion. Arista Networks had a return on equity of 31.19% and a net margin of 32.48%. The business’s revenue was up 38.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.98 EPS. On average, research analysts forecast that Arista Networks, Inc. will post 5.49 EPS for the current fiscal year.

Arista Networks Profile

(Free Report)

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms.