IFG Advisory LLC Makes New Investment in Arista Networks, Inc. (NYSE:ANET)

IFG Advisory LLC bought a new position in Arista Networks, Inc. (NYSE:ANETFree Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,497 shares of the technology company’s stock, valued at approximately $353,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Larson Financial Group LLC acquired a new stake in shares of Arista Networks during the third quarter worth approximately $28,000. First Command Advisory Services Inc. acquired a new stake in shares of Arista Networks during the third quarter worth approximately $29,000. Hollencrest Capital Management acquired a new stake in shares of Arista Networks during the first quarter worth approximately $30,000. BluePath Capital Management LLC acquired a new stake in shares of Arista Networks during the third quarter worth approximately $33,000. Finally, NBC Securities Inc. acquired a new stake in shares of Arista Networks during the third quarter worth approximately $33,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Stock Up 0.5 %

Shares of NYSE:ANET opened at $289.98 on Friday. Arista Networks, Inc. has a 12 month low of $131.68 and a 12 month high of $307.74. The company’s 50-day moving average price is $275.89 and its two-hundred day moving average price is $233.77. The firm has a market cap of $90.66 billion, a P/E ratio of 44.14, a P/E/G ratio of 2.49 and a beta of 1.10.

Arista Networks (NYSE:ANETGet Free Report) last issued its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the firm earned $1.25 EPS. The company’s revenue was up 20.8% on a year-over-year basis. As a group, equities analysts predict that Arista Networks, Inc. will post 6.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $320.00 price target on shares of Arista Networks in a research report on Tuesday, February 13th. JMP Securities reaffirmed a “market outperform” rating and set a $325.00 target price on shares of Arista Networks in a research report on Tuesday, February 13th. Morgan Stanley boosted their target price on shares of Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Melius raised shares of Arista Networks from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Finally, Oppenheimer reissued a “market perform” rating on shares of Arista Networks in a report on Tuesday, February 13th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $275.59.

View Our Latest Stock Analysis on Arista Networks

Insider Buying and Selling at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 22,000 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $303.00, for a total transaction of $6,666,000.00. Following the transaction, the chief executive officer now directly owns 1,665,300 shares in the company, valued at approximately $504,585,900. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $269.15, for a total value of $5,383,000.00. Following the sale, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $873,122.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jayshree Ullal sold 22,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $303.00, for a total transaction of $6,666,000.00. Following the completion of the sale, the chief executive officer now owns 1,665,300 shares in the company, valued at $504,585,900. The disclosure for this sale can be found here. In the last three months, insiders have sold 309,084 shares of company stock worth $86,554,611. Company insiders own 18.99% of the company’s stock.

Arista Networks Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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