Farther Finance Advisors LLC Has $4.49 Million Stock Position in Arista Networks, Inc. $ANET

Farther Finance Advisors LLC grew its position in shares of Arista Networks, Inc. (NYSE:ANET) by 68.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,810 shares of the technology company’s stock after buying an additional 12,521 shares during the quarter. Farther Finance Advisors LLC’s holdings in Arista Networks were worth $4,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the business. Brighton Jones LLC boosted its stake in shares of Arista Networks by 321.7% during the 4th quarter. Brighton Jones LLC now owns 7,806 shares of the technology company’s stock worth $863,000 after acquiring an additional 5,955 shares in the last quarter. Revolve Wealth Partners LLC bought a new stake in Arista Networks during the fourth quarter worth approximately $202,000. Bison Wealth LLC acquired a new position in Arista Networks during the fourth quarter valued at approximately $251,000. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Arista Networks by 211.2% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,979 shares of the technology company’s stock valued at $153,000 after purchasing an additional 1,343 shares during the period. Finally, Gabelli Funds LLC raised its position in shares of Arista Networks by 14.9% in the first quarter. Gabelli Funds LLC now owns 116,000 shares of the technology company’s stock valued at $8,988,000 after purchasing an additional 15,000 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Stock Down 0.1%

Arista Networks stock opened at $131.13 on Thursday. The business has a 50 day moving average price of $135.53 and a two-hundred day moving average price of $128.68. Arista Networks, Inc. has a 12 month low of $59.43 and a 12 month high of $164.94. The stock has a market cap of $165.12 billion, a price-to-earnings ratio of 49.86, a price-to-earnings-growth ratio of 2.51 and a beta of 1.41.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, November 4th. The technology company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.26 billion. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.Arista Networks’s quarterly revenue was up 27.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.40 earnings per share. On average, analysts expect that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Arista Networks

In related news, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $128.09, for a total value of $1,024,720.00. Following the completion of the transaction, the director owned 25,784 shares of the company’s stock, valued at $3,302,672.56. This represents a 23.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jayshree Ullal sold 24,042 shares of Arista Networks stock in a transaction that occurred on Tuesday, November 25th. The shares were 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 SEC filing for this sale provides additional information. Insiders have sold a total of 216,464 shares of company stock valued at $28,598,588 in the last 90 days. Insiders own 3.39% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on ANET. Needham & Company LLC raised their target price on shares of Arista Networks from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. BNP Paribas raised Arista Networks from a “hold” rating to an “outperform” rating in a research report on Thursday, September 25th. Wells Fargo & Company lifted their price objective on Arista Networks from $150.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, September 12th. Evercore ISI increased their target price on Arista Networks from $150.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, September 12th. Finally, Citigroup raised their target price on Arista Networks from $136.00 to $176.00 and gave the company a “buy” rating in a report on Friday, September 12th. Seventeen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $163.56.

Arista Networks Company 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.