Brookstone Capital Management Decreases Position in Arista Networks, Inc. $ANET

Brookstone Capital Management reduced its stake in Arista Networks, Inc. (NYSE:ANET) by 23.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 130,564 shares of the technology company’s stock after selling 40,656 shares during the period. Brookstone Capital Management’s holdings in Arista Networks were worth $19,024,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. AdvisorNet Financial Inc grew its position in shares of Arista Networks by 56.7% in the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after buying an additional 72 shares during the last quarter. Fragasso Financial Advisors Inc boosted its stake in Arista Networks by 1.8% in the third quarter. Fragasso Financial Advisors Inc now owns 4,237 shares of the technology company’s stock valued at $616,000 after acquiring an additional 76 shares in the last quarter. Stablepoint Partners LLC grew its holdings in shares of Arista Networks by 0.8% during the second quarter. Stablepoint Partners LLC now owns 9,406 shares of the technology company’s stock worth $962,000 after purchasing an additional 77 shares during the last quarter. Glenview Trust co grew its holdings in shares of Arista Networks by 2.5% during the second quarter. Glenview Trust co now owns 3,502 shares of the technology company’s stock worth $358,000 after purchasing an additional 84 shares during the last quarter. Finally, Telos Capital Management Inc. increased its position in shares of Arista Networks by 1.0% during the second quarter. Telos Capital Management Inc. now owns 9,260 shares of the technology company’s stock worth $947,000 after purchasing an additional 88 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Performance

Shares of ANET opened at $131.13 on Thursday. The stock has a market capitalization of $165.12 billion, a P/E ratio of 49.86, a P/E/G ratio of 2.51 and a beta of 1.41. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $164.94. The company’s fifty day moving average is $135.53 and its two-hundred day moving average is $128.68.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.72 by $0.03. The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The business’s revenue was up 27.5% on a year-over-year basis. During the same quarter last year, the business earned $2.40 EPS. Sell-side analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Jayshree Ullal sold 24,042 shares of Arista Networks stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $124.55, for a total value of $2,994,431.10. Following the sale, the chief executive officer directly owned 9,917 shares in the company, valued at $1,235,162.35. The trade was a 70.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kenneth Duda sold 26,000 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $123.16, for a total value of $3,202,160.00. Following the transaction, the insider directly owned 532,400 shares in the company, valued at $65,570,384. This represents a 4.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 216,464 shares of company stock worth $28,598,588 over the last quarter. 3.39% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ANET. The Goldman Sachs Group upped their target price on Arista Networks from $155.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Weiss Ratings reissued a “hold (c+)” rating on shares of Arista Networks in a report on Monday. BNP Paribas raised shares of Arista Networks from a “hold” rating to an “outperform” rating in a report on Thursday, September 25th. Morgan Stanley decreased their price target on shares of Arista Networks from $171.00 to $159.00 and set an “overweight” rating for the company in a research note on Wednesday, December 17th. Finally, Zacks Research downgraded shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Seventeen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $163.56.

Arista Networks Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.