Brookstone Capital Management Raises Holdings in Arista Networks, Inc. $ANET

Brookstone Capital Management raised its stake in Arista Networks, Inc. (NYSE:ANET) by 30.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,724 shares of the technology company’s stock after purchasing an additional 40,160 shares during the period. Brookstone Capital Management’s holdings in Arista Networks were worth $22,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in ANET. Bare Financial Services Inc increased its stake in shares of Arista Networks by 2,118.2% during the second 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. Board of the Pension Protection Fund acquired a new stake in Arista Networks in the fourth quarter valued at approximately $26,000. AdvisorNet Financial Inc lifted its stake in Arista Networks by 56.7% in 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 during the last quarter. Knuff & Co LLC acquired a new position in Arista Networks during the 3rd quarter worth approximately $29,000. Finally, Richardson Financial Services Inc. grew its holdings in Arista Networks by 141.3% during the 3rd quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock worth $32,000 after acquiring an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Trading Down 4.1%

Shares of NYSE:ANET opened at $115.86 on Tuesday. The firm has a 50 day simple moving average of $135.21 and a 200-day simple moving average of $136.50. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94. The company has a market capitalization of $145.59 billion, a PE ratio of 41.98, a P/E/G ratio of 2.14 and a beta of 1.46.

Arista Networks (NYSE:ANET) last posted its earnings results on Thursday, February 12th. The technology company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.07. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The firm had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same period last year, the firm posted $0.66 EPS. The company’s revenue was up 28.9% on a year-over-year basis. As a group, equities research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Buying and Selling at Arista Networks

In other news, insider Kenneth Duda sold 32,000 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $134.14, for a total value of $4,292,480.00. Following the completion of the sale, the insider directly owned 12,976 shares of the company’s stock, valued at approximately $1,740,600.64. The trade was a 71.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $140.43, for a total value of $1,123,440.00. Following the completion of the sale, the director directly owned 9,784 shares of the company’s stock, valued at approximately $1,373,967.12. This trade represents a 44.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 199,632 shares of company stock worth $26,936,324 over the last 90 days. Corporate insiders own 3.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ANET. Barclays reissued an “overweight” rating and issued a $184.00 price objective (up from $183.00) on shares of Arista Networks in a research report on Friday, February 13th. TD Cowen started coverage on shares of Arista Networks in a research note on Thursday, March 12th. They set a “buy” rating and a $170.00 target price for the company. KeyCorp reissued an “overweight” rating and issued a $178.00 target price (up from $170.00) on shares of Arista Networks in a report on Friday, February 13th. Evercore restated an “outperform” rating and issued a $200.00 price target on shares of Arista Networks in a research note on Friday, February 13th. Finally, Needham & Company LLC lifted their price target on Arista Networks from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Eighteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Arista Networks currently has an average rating of “Moderate Buy” and a consensus target price of $176.47.

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.