Diversify Advisory Services LLC Has $2.42 Million Stake in Arista Networks, Inc. $ANET

Diversify Advisory Services LLC lifted its position in Arista Networks, Inc. (NYSE:ANET) by 36.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,638 shares of the technology company’s stock after purchasing an additional 4,984 shares during the quarter. Diversify Advisory Services LLC’s holdings in Arista Networks were worth $2,420,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Arista Networks by 1.0% in the third quarter. Vanguard Group Inc. now owns 100,000,830 shares of the technology company’s stock valued at $14,571,121,000 after purchasing an additional 1,007,730 shares in the last quarter. State Street Corp raised its position in Arista Networks by 0.5% in the third quarter. State Street Corp now owns 46,342,551 shares of the technology company’s stock worth $6,752,573,000 after purchasing an additional 245,976 shares in the last quarter. Invesco Ltd. raised its position in Arista Networks by 1.8% in the third quarter. Invesco Ltd. now owns 10,094,255 shares of the technology company’s stock worth $1,470,834,000 after purchasing an additional 181,813 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in Arista Networks by 82.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 9,587,115 shares of the technology company’s stock worth $1,396,939,000 after purchasing an additional 4,332,659 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in Arista Networks by 13.2% in the second quarter. AQR Capital Management LLC now owns 8,742,112 shares of the technology company’s stock worth $892,919,000 after purchasing an additional 1,022,303 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 Yvonne Wassenaar sold 1,395 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $134.34, for a total value of $187,404.30. Following the completion of the sale, the director directly owned 11,179 shares in the company, valued at approximately $1,501,786.86. This trade represents a 11.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kelly Bodnar Battles sold 422 shares of the firm’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $128.06, for a total value of $54,041.32. Following the completion of the sale, the director owned 9,529 shares of the company’s stock, valued at approximately $1,220,283.74. This trade represents a 4.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 199,632 shares of company stock worth $26,873,604. Corporate insiders own 3.39% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on ANET. TD Cowen began coverage on shares of Arista Networks in a research report on Thursday, March 12th. They issued a “buy” rating and a $170.00 price target for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Arista Networks in a research report on Friday, March 27th. Susquehanna raised shares of Arista Networks to a “strong-buy” rating in a research report on Wednesday, April 1st. UBS Group set a $200.00 price objective on Arista Networks in a research note on Tuesday, February 24th. Finally, KeyCorp reiterated an “overweight” rating and set a $178.00 price objective (up from $170.00) on shares of Arista Networks in a research note on Friday, February 13th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $176.44.

Arista Networks Trading Up 0.8%

NYSE ANET opened at $147.27 on Friday. The firm has a market cap of $185.05 billion, a price-to-earnings ratio of 53.36, a PEG ratio of 2.60 and a beta of 1.48. The company has a 50 day moving average of $133.97 and a 200-day moving average of $135.85. Arista Networks, Inc. has a 1-year low of $66.59 and a 1-year high of $164.94.

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

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.