Private Advisor Group LLC Has $1.27 Million Holdings in Arista Networks, Inc. (NYSE:ANET)

Private Advisor Group LLC raised its stake in shares of Arista Networks, Inc. (NYSE:ANETFree Report) by 30.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 5,378 shares of the technology company’s stock after purchasing an additional 1,241 shares during the period. Private Advisor Group LLC’s holdings in Arista Networks were worth $1,267,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Sandy Spring Bank boosted its holdings in Arista Networks by 33.6% during the fourth quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock worth $37,000 after purchasing an additional 39 shares during the last quarter. Fulton Breakefield Broenniman LLC boosted its stake in shares of Arista Networks by 1.8% in the 4th quarter. Fulton Breakefield Broenniman LLC now owns 2,255 shares of the technology company’s stock worth $531,000 after buying an additional 40 shares during the last quarter. West Family Investments Inc. grew its holdings in shares of Arista Networks by 3.3% in the fourth quarter. West Family Investments Inc. now owns 1,267 shares of the technology company’s stock valued at $298,000 after acquiring an additional 40 shares in the last quarter. Venturi Wealth Management LLC increased its position in shares of Arista Networks by 2.3% during the fourth quarter. Venturi Wealth Management LLC now owns 1,839 shares of the technology company’s stock valued at $433,000 after acquiring an additional 41 shares during the last quarter. Finally, PDS Planning Inc lifted its holdings in Arista Networks by 3.1% during the fourth quarter. PDS Planning Inc now owns 1,376 shares of the technology company’s stock worth $324,000 after acquiring an additional 41 shares during the period. 82.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ANET. UBS Group raised their target price on Arista Networks from $275.00 to $285.00 and gave the company a “neutral” rating in a research report on Wednesday, May 8th. Evercore ISI reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Arista Networks in a research report on Wednesday, March 27th. The Goldman Sachs Group increased their target price on shares of Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. JMP Securities reaffirmed a “market outperform” rating and issued a $325.00 price target on shares of Arista Networks in a report on Tuesday, February 13th. Finally, KeyCorp increased their price objective on Arista Networks from $306.00 to $349.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $293.00.

View Our Latest Research Report on ANET

Insider Activity

In related news, CEO Jayshree Ullal sold 20,000 shares of Arista Networks stock in a transaction on Monday, May 13th. The stock was sold at an average price of $312.07, for a total transaction of $6,241,400.00. Following the completion of the sale, the chief executive officer now owns 1,620,800 shares of the company’s stock, valued at $505,803,056. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Jayshree Ullal sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $312.07, for a total value of $6,241,400.00. Following the sale, the chief executive officer now directly owns 1,620,800 shares of the company’s stock, valued at $505,803,056. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kelly Bodnar Battles sold 356 shares of Arista Networks stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $274.91, for a total transaction of $97,867.96. Following the sale, the director now owns 2,570 shares of the company’s stock, valued at $706,518.70. The disclosure for this sale can be found here. Insiders sold 361,090 shares of company stock worth $104,326,565 in the last three months. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Stock Up 4.0 %

Shares of ANET opened at $326.09 on Thursday. Arista Networks, Inc. has a twelve month low of $133.42 and a twelve month high of $326.28. The stock has a market cap of $102.18 billion, a PE ratio of 45.11, a P/E/G ratio of 2.80 and a beta of 1.13. The business’s 50-day moving average price is $281.59 and its 200-day moving average price is $255.59.

Arista Networks (NYSE:ANETGet Free Report) last posted its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a net margin of 37.64% and a return on equity of 31.12%. The business 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 posted $1.25 EPS. Arista Networks’s revenue was up 20.8% on a year-over-year basis. Analysts expect that Arista Networks, Inc. will post 7.05 earnings per share for the current fiscal year.

Arista Networks declared that its Board of Directors has authorized a share buyback plan on Tuesday, May 7th that permits the company to buyback $1.20 billion in outstanding shares. This buyback authorization permits the technology company to repurchase up to 1.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Arista Networks Company 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.

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

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