Larson Financial Group LLC Acquires New Holdings in Arista Networks Inc (ANET)

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Larson Financial Group LLC acquired a new stake in Arista Networks Inc (NYSE:ANET) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 120 shares of the technology company’s stock, valued at approximately $25,000.

Several other hedge funds have also recently bought and sold shares of ANET. CENTRAL TRUST Co lifted its holdings in shares of Arista Networks by 53.3% during the fourth quarter. CENTRAL TRUST Co now owns 141 shares of the technology company’s stock worth $29,000 after purchasing an additional 49 shares during the period. Capital Investment Advisory Services LLC acquired a new stake in shares of Arista Networks during the fourth quarter worth $39,000. Intercontinental Wealth Advisors LLC acquired a new stake in shares of Arista Networks during the fourth quarter worth $47,000. Parallel Advisors LLC lifted its holdings in shares of Arista Networks by 46.6% during the fourth quarter. Parallel Advisors LLC now owns 324 shares of the technology company’s stock worth $68,000 after purchasing an additional 103 shares during the period. Finally, Lavaca Capital LLC acquired a new stake in shares of Arista Networks during the fourth quarter worth $101,000. 56.99% of the stock is owned by institutional investors and hedge funds.

In other news, SVP Kenneth Duda sold 11,000 shares of the firm’s stock in a transaction on Monday, December 10th. The stock was sold at an average price of $227.83, for a total value of $2,506,130.00. Following the completion of the transaction, the senior vice president now owns 3,483 shares in the company, valued at $793,531.89. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Anshul Sadana sold 1,197 shares of the firm’s stock in a transaction on Wednesday, November 28th. The shares were sold at an average price of $235.00, for a total value of $281,295.00. Following the completion of the transaction, the insider now owns 1,414 shares of the company’s stock, valued at approximately $332,290. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,014 shares of company stock valued at $8,727,914. Company insiders own 24.95% of the company’s stock.

ANET has been the subject of several recent research reports. JPMorgan Chase & Co. set a $285.00 price target on Arista Networks and gave the stock a “hold” rating in a report on Friday, February 15th. Citigroup increased their price target on Arista Networks from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, November 2nd. Wolfe Research initiated coverage on Arista Networks in a report on Tuesday, December 11th. They set an “underperform” rating for the company. KeyCorp increased their price target on Arista Networks from $310.00 to $320.00 and gave the stock an “overweight” rating in a report on Friday, November 2nd. Finally, Nomura increased their price target on Arista Networks from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, November 2nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $294.06.

NYSE:ANET opened at $269.58 on Wednesday. The firm has a market capitalization of $20.42 billion, a price-to-earnings ratio of 38.13, a price-to-earnings-growth ratio of 1.57 and a beta of 1.40. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.48 and a quick ratio of 4.04. Arista Networks Inc has a 1 year low of $187.08 and a 1 year high of $313.37.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, February 14th. The technology company reported $2.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.80 by $0.45. The firm had revenue of $595.70 million during the quarter, compared to analysts’ expectations of $591.41 million. Arista Networks had a return on equity of 29.37% and a net margin of 29.47%. Arista Networks’s revenue was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.71 earnings per share. As a group, sell-side analysts anticipate that Arista Networks Inc will post 7.85 EPS for the current year.

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Arista Networks Company Profile

Arista Networks, Inc provides cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of its extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

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Institutional Ownership by Quarter for Arista Networks (NYSE:ANET)

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