Simplicity Solutions LLC Has $1.05 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Simplicity Solutions LLC raised its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 4.6% in the 4th quarter, HoldingsChannel reports. The firm owned 4,445 shares of the technology company’s stock after buying an additional 194 shares during the period. Simplicity Solutions LLC’s holdings in Arista Networks were worth $1,047,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of ANET. Larson Financial Group LLC acquired a new position in Arista Networks in the third quarter valued at about $28,000. First Command Advisory Services Inc. acquired a new position in Arista Networks in the third quarter valued at about $29,000. Hollencrest Capital Management acquired a new position in Arista Networks in the first quarter valued at about $30,000. BluePath Capital Management LLC acquired a new position in Arista Networks in the third quarter valued at about $33,000. Finally, NBC Securities Inc. acquired a new position in Arista Networks in the third quarter valued at about $33,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ANET. Rosenblatt Securities reiterated a “sell” rating and issued a $210.00 target price on shares of Arista Networks in a research report on Friday. Morgan Stanley lifted their target price on Arista Networks from $230.00 to $272.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Melius upgraded Arista Networks from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Barclays lifted their target price on Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Arista Networks in a research note on Tuesday, February 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $275.59.

Insider Buying and Selling

In related news, Director Yvonne Wassenaar sold 224 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total value of $57,184.96. Following the transaction, the director now directly owns 2,827 shares in the company, valued at approximately $721,704.83. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Marc Taxay sold 11,650 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $286.28, for a total value of $3,335,162.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Yvonne Wassenaar sold 224 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total value of $57,184.96. Following the completion of the sale, the director now directly owns 2,827 shares of the company’s stock, valued at $721,704.83. The disclosure for this sale can be found here. Insiders have sold a total of 361,036 shares of company stock worth $102,813,921 in the last ninety days. Corporate insiders own 18.99% of the company’s stock.

Arista Networks Stock Performance

Arista Networks stock opened at $263.20 on Tuesday. The stock has a market capitalization of $82.28 billion, a price-to-earnings ratio of 40.06, a PEG ratio of 2.34 and a beta of 1.09. Arista Networks, Inc. has a 52-week low of $131.68 and a 52-week high of $307.74. The stock’s 50 day moving average price is $281.58 and its two-hundred day moving average price is $243.39.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the business earned $1.25 EPS. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. On average, equities research analysts forecast that Arista Networks, Inc. will post 6.63 EPS for the current year.

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.