Custom Index Systems LLC Invests $542,000 in Arista Networks, Inc. (NYSE:ANET)

Custom Index Systems LLC acquired a new position in Arista Networks, Inc. (NYSE:ANET - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,413 shares of the technology company's stock, valued at approximately $542,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Beacon Capital Management LLC lifted its holdings in Arista Networks by 500.0% during the second quarter. Beacon Capital Management LLC now owns 78 shares of the technology company's stock valued at $27,000 after purchasing an additional 65 shares in the last quarter. LGT Financial Advisors LLC purchased a new position in Arista Networks in the 2nd quarter valued at $27,000. Byrne Asset Management LLC acquired a new position in Arista Networks during the second quarter worth about $33,000. Sugarloaf Wealth Management LLC purchased a new stake in Arista Networks during the 2nd quarter valued at about $35,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Arista Networks in the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 82.47% of the company's stock.

Wall Street Analyst Weigh In

ANET has been the topic of several analyst reports. Rosenblatt Securities increased their target price on shares of Arista Networks from $220.00 to $265.00 and gave the stock a "sell" rating in a research note on Wednesday, July 31st. Evercore ISI lifted their price objective on Arista Networks from $400.00 to $425.00 and gave the company an "outperform" rating in a research note on Tuesday, October 1st. UBS Group boosted their price objective on Arista Networks from $285.00 to $369.00 and gave the company a "neutral" rating in a report on Wednesday, September 4th. Needham & Company LLC restated a "buy" rating and set a $375.00 target price on shares of Arista Networks in a report on Wednesday, July 31st. Finally, Citigroup boosted their price target on shares of Arista Networks from $385.00 to $460.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. One research 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. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $369.50.

Arista Networks Trading Down 0.4 %

Shares of Arista Networks stock traded down $1.61 during trading hours on Friday, hitting $394.09. 1,168,549 shares of the company were exchanged, compared to its average volume of 2,220,388. The stock has a market capitalization of $123.49 billion, a price-to-earnings ratio of 54.89, a P/E/G ratio of 3.21 and a beta of 1.07. The business has a 50-day moving average of $372.10 and a 200-day moving average of $335.48. Arista Networks, Inc. has a 1 year low of $168.25 and a 1 year high of $422.73.

Arista Networks (NYSE:ANET - Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The technology company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.38. The firm had revenue of $1.69 billion during the quarter, compared to analysts' expectations of $1.66 billion. Arista Networks had a return on equity of 30.50% and a net margin of 39.01%. Arista Networks's revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.41 earnings per share. As a group, research analysts anticipate that Arista Networks, Inc. will post 7.38 earnings per share for the current fiscal year.

Insider Activity at Arista Networks

In other Arista Networks news, Director Kelly Bodnar Battles sold 216 shares of the stock in a transaction 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 of the company's stock, valued at $883,278.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Kelly Bodnar Battles sold 216 shares of Arista Networks stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $324.02, for a total value of $69,988.32. Following the transaction, the director now directly owns 2,726 shares of the company's stock, valued at $883,278.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Kenneth Duda sold 20,000 shares of the business's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $394.69, for a total value of $7,893,800.00. Following the sale, the senior vice president now owns 3,244 shares of the company's stock, valued at $1,280,374.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,570 shares of company stock valued at $21,474,782. 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.