Blalock Williams LLC Makes New $2.08 Million Investment in Arista Networks, Inc. $ANET

Blalock Williams LLC purchased a new position in shares of Arista Networks, Inc. (NYSE:ANET) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 14,243 shares of the technology company’s stock, valued at approximately $2,075,000. Arista Networks accounts for about 1.8% of Blalock Williams LLC’s investment portfolio, making the stock its 15th biggest holding.

Several other institutional investors and hedge funds have also modified their holdings of the business. Bare Financial Services Inc raised its holdings in Arista Networks by 2,118.2% during the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after buying an additional 233 shares during the period. AdvisorNet Financial Inc increased its position in shares of Arista Networks by 56.7% during the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after acquiring an additional 72 shares in the last quarter. REAP Financial Group LLC increased its position in shares of Arista Networks by 108.0% during the second quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock worth $34,000 after acquiring an additional 175 shares in the last quarter. SJS Investment Consulting Inc. raised its holdings in shares of Arista Networks by 979.2% during the third quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock worth $38,000 after acquiring an additional 235 shares during the period. Finally, Solstein Capital LLC lifted its position in Arista Networks by 493.8% in the 2nd quarter. Solstein Capital LLC now owns 380 shares of the technology company’s stock valued at $39,000 after acquiring an additional 316 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Kelly Bodnar Battles sold 422 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $117.15, for a total value of $49,437.30. Following the sale, the director directly owned 8,980 shares of the company’s stock, valued at approximately $1,052,007. This represents a 4.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kenneth Duda sold 26,000 shares of Arista Networks stock in a transaction dated 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 owned 532,400 shares of the company’s stock, valued at $65,570,384. The trade was a 4.66% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 216,464 shares of company stock worth $28,488,988. 3.39% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ANET shares. Rosenblatt Securities reiterated a “neutral” rating and set a $140.00 target price on shares of Arista Networks in a report on Monday, November 24th. Morgan Stanley decreased their price objective on Arista Networks from $171.00 to $159.00 and set an “overweight” rating for the company in a report on Wednesday, December 17th. BNP Paribas Exane upgraded Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 target price on the stock in a research note on Thursday, September 25th. BNP Paribas raised Arista Networks from a “hold” rating to an “outperform” rating in a research report on Thursday, September 25th. Finally, Barclays reiterated an “overweight” rating and issued a $183.00 price objective (up from $179.00) on shares of Arista Networks in a report on Wednesday, November 5th. Eighteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Arista Networks has a consensus rating of “Moderate Buy” and a consensus target price of $164.44.

Arista Networks Stock Down 3.9%

ANET stock opened at $124.92 on Thursday. The company has a market cap of $157.30 billion, a price-to-earnings ratio of 47.50, a P/E/G ratio of 2.19 and a beta of 1.41. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94. The business has a 50 day moving average price of $128.96 and a two-hundred day moving average price of $132.47.

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

About Arista Networks

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.