Black Swift Group LLC Purchases New Holdings in Arista Networks, Inc. $ANET

Black Swift Group LLC acquired a new position in Arista Networks, Inc. (NYSE:ANET) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 53,425 shares of the technology company’s stock, valued at approximately $7,785,000. Arista Networks accounts for approximately 1.4% of Black Swift Group LLC’s investment portfolio, making the stock its 22nd biggest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in ANET. Ameriflex Group Inc. lifted its holdings in shares of Arista Networks by 832.1% during the third quarter. Ameriflex Group Inc. now owns 3,402 shares of the technology company’s stock valued at $496,000 after purchasing an additional 3,037 shares during the last quarter. Baltimore Washington Financial Advisors Inc. boosted its position in shares of Arista Networks by 1.3% in the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 261,291 shares of the technology company’s stock worth $38,073,000 after purchasing an additional 3,378 shares in the last quarter. Modern Wealth Management LLC grew its stake in shares of Arista Networks by 14.3% in the 3rd quarter. Modern Wealth Management LLC now owns 3,776 shares of the technology company’s stock worth $550,000 after buying an additional 471 shares during the last quarter. SPX Gestao de Recursos Ltda purchased a new stake in shares of Arista Networks in the 3rd quarter worth approximately $1,166,000. Finally, Trustmark Bank Trust Department bought a new position in Arista Networks during the 3rd quarter valued at approximately $245,000. Institutional investors own 82.47% of the company’s stock.

Wall Street Analyst Weigh In

ANET has been the topic of several analyst reports. Needham & Company LLC boosted their target price on Arista Networks from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, February 13th. The Goldman Sachs Group restated a “buy” rating and set a $188.00 price target (up from $165.00) on shares of Arista Networks in a report on Friday, February 13th. Erste Group Bank lowered Arista Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price target on shares of Arista Networks in a research note on Friday, February 13th. Finally, Rosenblatt Securities increased their price objective on shares of Arista Networks from $140.00 to $165.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. Seventeen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $176.88.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $133.15 on Friday. The company has a market cap of $167.31 billion, a P/E ratio of 48.24, a PEG ratio of 2.36 and a beta of 1.46. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $164.94. The stock’s fifty day moving average price is $134.45 and its 200-day moving average price is $137.19.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, February 12th. The technology company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.75 by $0.07. Arista Networks had a return on equity of 30.37% and a net margin of 38.99%.The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same period last year, the company earned $0.66 EPS. Arista Networks’s revenue for the quarter was up 28.9% on a year-over-year basis. On average, sell-side analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Insider Activity at Arista Networks

In other news, insider Kenneth Duda sold 26,000 shares of Arista Networks stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $142.35, for a total value of $3,701,100.00. Following the completion of the sale, the insider directly owned 512,400 shares in the company, valued at $72,940,140. The trade was a 4.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kelly Bodnar Battles sold 422 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $128.06, for a total transaction of $54,041.32. Following the transaction, the director directly owned 9,529 shares of the company’s stock, valued at $1,220,283.74. The trade was a 4.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 196,237 shares of company stock worth $25,865,760. 3.39% of the stock is owned by insiders.

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.