Valeo Financial Advisors LLC Buys 196 Shares of Arista Networks, Inc. (NYSE:ANET)

Valeo Financial Advisors LLC grew its position in shares of Arista Networks, Inc. (NYSE:ANET) by 12.3% in the 4th quarter, HoldingsChannel reports. The firm owned 1,786 shares of the technology company’s stock after acquiring an additional 196 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Arista Networks were worth $421,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Larson Financial Group LLC purchased a new position in shares of Arista Networks in the third quarter worth $28,000. First Command Advisory Services Inc. bought a new position in shares of Arista Networks during the third quarter valued at about $29,000. Hollencrest Capital Management bought a new stake in shares of Arista Networks in the first quarter worth about $30,000. BluePath Capital Management LLC purchased a new position in Arista Networks during the 3rd quarter valued at about $33,000. Finally, NBC Securities Inc. purchased a new stake in Arista Networks in the 3rd quarter worth approximately $33,000. Institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Down 8.6 %

Shares of NYSE ANET opened at $271.22 on Monday. The firm’s 50-day moving average price is $281.78 and its 200-day moving average price is $242.84. Arista Networks, Inc. has a 52-week low of $131.68 and a 52-week high of $307.74. The company has a market cap of $84.79 billion, a PE ratio of 41.28, a PEG ratio of 2.34 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period last year, the business posted $1.25 EPS. As a group, equities research analysts anticipate that Arista Networks, Inc. will post 6.63 EPS for the current fiscal year.

Insider Activity at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 18,621 shares of the business’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $257.60, for a total transaction of $4,796,769.60. Following the completion of the sale, the chief executive officer now owns 82,766 shares of the company’s stock, valued at $21,320,521.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Arista Networks news, 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 completion of the transaction, the chief executive officer now directly owns 82,766 shares in the company, valued at $21,320,521.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Yvonne Wassenaar sold 186 shares of the firm’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $261.41, for a total transaction of $48,622.26. Following the sale, the director now owns 2,678 shares in the company, valued at $700,055.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 361,036 shares of company stock worth $102,813,921. 18.99% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on ANET shares. JPMorgan Chase & Co. boosted their price objective on shares of Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday. 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $320.00 price target on shares of Arista Networks in a research note on Tuesday, February 13th. The Goldman Sachs Group boosted their target price on shares of Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, Morgan Stanley boosted their price objective on shares of Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and an average target price of $275.59.

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.