Cetera Advisor Networks LLC Buys 947 Shares of Arista Networks, Inc. (NYSE:ANET)

Cetera Advisor Networks LLC increased its stake in Arista Networks, Inc. (NYSE:ANETFree Report) by 4.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,375 shares of the technology company’s stock after purchasing an additional 947 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Arista Networks were worth $5,270,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Sandy Spring Bank raised its holdings in Arista Networks by 33.6% during the 4th quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock valued at $37,000 after acquiring an additional 39 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Arista Networks by 6.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 694 shares of the technology company’s stock valued at $163,000 after acquiring an additional 39 shares during the period. Fulton Breakefield Broenniman LLC raised its holdings in Arista Networks by 1.8% during the 4th quarter. Fulton Breakefield Broenniman LLC now owns 2,255 shares of the technology company’s stock valued at $531,000 after acquiring an additional 40 shares during the period. West Family Investments Inc. raised its holdings in Arista Networks by 3.3% during the 4th 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 during the period. Finally, Venturi Wealth Management LLC raised its holdings in Arista Networks by 2.3% during the 4th 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 period. Institutional investors own 82.47% of the company’s stock.

Insider Activity

In other news, CEO Jayshree Ullal sold 20,000 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $282.41, for a total transaction of $5,648,200.00. Following the completion of the transaction, the chief executive officer now directly owns 1,683,300 shares of the company’s stock, valued at $475,380,753. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Jayshree Ullal sold 20,000 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $282.41, for a total value of $5,648,200.00. Following the completion of the transaction, the chief executive officer now directly owns 1,683,300 shares of the company’s stock, valued at $475,380,753. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Marc Taxay sold 1,040 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $292.28, for a total transaction of $303,971.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 387,368 shares of company stock valued at $114,345,043. Insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

ANET has been the topic of several research analyst reports. Evercore ISI upped their price target on shares of Arista Networks from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Monday, May 20th. Wells Fargo & Company upped their price target on shares of Arista Networks from $310.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. UBS Group upped their price target on shares of Arista Networks from $275.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, May 8th. JPMorgan Chase & Co. upped their price target on shares of Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, The Goldman Sachs Group upped their price target on shares of Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $295.22.

Check Out Our Latest Research Report on ANET

Arista Networks Trading Up 0.1 %

Shares of NYSE:ANET opened at $296.79 on Monday. The company has a market cap of $93.00 billion, a price-to-earnings ratio of 41.34, a price-to-earnings-growth ratio of 2.69 and a beta of 1.08. The company has a 50-day moving average price of $288.30 and a 200-day moving average price of $267.92. Arista Networks, Inc. has a 12 month low of $148.32 and a 12 month high of $329.04.

Arista Networks (NYSE:ANETGet Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The technology company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.56 by $0.24. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.55 billion. Arista Networks had a net margin of 37.64% and a return on equity of 31.12%. As a group, research analysts forecast that Arista Networks, Inc. will post 7.05 EPS for the current fiscal year.

Arista Networks declared that its board has initiated a share buyback program on Tuesday, May 7th that authorizes the company to repurchase $1.20 billion in shares. This repurchase authorization authorizes the technology company to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are 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.

Further Reading

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

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