Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. increased its position in shares of Arista Networks, Inc. (NYSE:ANET) by 10.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,222 shares of the technology company’s stock after purchasing an additional 214 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Arista Networks were worth $523,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Larson Financial Group LLC purchased a new stake in shares of Arista Networks in the third quarter valued at $28,000. First Command Advisory Services Inc. purchased a new stake in shares of Arista Networks in the third quarter valued at $29,000. Hollencrest Capital Management purchased a new stake in shares of Arista Networks in the first quarter valued at $30,000. BluePath Capital Management LLC purchased a new stake in shares of Arista Networks in the third quarter valued at $33,000. Finally, NBC Securities Inc. purchased a new stake in shares of Arista Networks in the third quarter valued at $33,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on ANET. Barclays lifted their price objective on Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. KeyCorp boosted their price target on Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a research report on Thursday, January 18th. Morgan Stanley boosted their price target on Arista Networks from $230.00 to $272.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. JMP Securities reissued a “market outperform” rating and set a $325.00 price target on shares of Arista Networks in a research report on Tuesday, February 13th. Finally, JPMorgan Chase & Co. boosted their price target on Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Arista Networks presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.59.

Insider Buying and Selling

In related news, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total value of $5,801,000.00. Following the transaction, the senior vice president now owns 3,244 shares in the company, valued at $940,922.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Arista Networks news, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total transaction of $5,801,000.00. Following the sale, the senior vice president now owns 3,244 shares in the company, valued at $940,922.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jayshree Ullal sold 18,621 shares of the company’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $257.60, for a total value of $4,796,769.60. Following the sale, the chief executive officer now owns 82,766 shares in the company, valued at approximately $21,320,521.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 361,036 shares of company stock worth $102,813,921. 18.99% of the stock is currently owned by corporate insiders.

Arista Networks Stock Performance

NYSE:ANET opened at $271.22 on Friday. Arista Networks, Inc. has a one year low of $131.68 and a one year high of $307.74. The business’s 50-day simple moving average is $281.78 and its 200 day simple moving average is $242.41. The stock has a market cap of $84.79 billion, a price-to-earnings ratio of 41.28, a price-to-earnings-growth ratio of 2.56 and a beta of 1.09.

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

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.