Arista Networks, Inc. (NYSE:ANET) Stock Position Raised by Meritage Portfolio Management

Meritage Portfolio Management lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 6.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,175 shares of the technology company’s stock after purchasing an additional 3,170 shares during the period. Arista Networks makes up about 0.8% of Meritage Portfolio Management’s holdings, making the stock its 22nd biggest position. Meritage Portfolio Management’s holdings in Arista Networks were worth $11,581,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC acquired a new stake in Arista Networks during the 3rd quarter valued at $28,000. First Command Advisory Services Inc. acquired a new position in Arista Networks during the third quarter valued at $29,000. BluePath Capital Management LLC purchased a new stake in Arista Networks in the 3rd quarter worth about $33,000. NBC Securities Inc. acquired a new stake in Arista Networks during the 3rd quarter worth about $33,000. Finally, Atticus Wealth Management LLC boosted its position in Arista Networks by 3,625.0% during the 4th quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock worth $35,000 after acquiring an additional 145 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on ANET shares. JMP Securities restated a “market outperform” rating and issued a $325.00 price objective on shares of Arista Networks in a report on Tuesday, February 13th. The Goldman Sachs Group raised their price target on shares of Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Evercore ISI reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Arista Networks in a research report on Wednesday, March 27th. JPMorgan Chase & Co. increased their price objective on Arista Networks from $297.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, Melius Research upgraded Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $275.59.

Arista Networks Trading Up 0.3 %

Shares of ANET traded up $0.88 during mid-day trading on Friday, hitting $265.64. 1,722,814 shares of the company traded hands, compared to its average volume of 2,472,747. The business has a 50-day moving average of $279.04 and a 200 day moving average of $246.38. Arista Networks, Inc. has a one year low of $131.68 and a one year high of $307.74. The stock has a market capitalization of $83.05 billion, a price-to-earnings ratio of 40.65, a PEG ratio of 2.18 and a beta of 1.09.

Arista Networks (NYSE:ANET) last released its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The firm’s quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.25 earnings per share. As a group, analysts anticipate that Arista Networks, Inc. will post 6.7 earnings per share for the current year.

Insider Buying and Selling at Arista Networks

In related news, CEO Jayshree Ullal sold 980 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $268.29, for a total value of $262,924.20. Following the completion of the sale, the chief executive officer now owns 73,051 shares in the company, valued at $19,598,852.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Kenneth Duda sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total value of $5,801,000.00. Following the completion of the transaction, the senior vice president now directly owns 3,244 shares in the company, valued at approximately $940,922.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jayshree Ullal sold 980 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $268.29, for a total transaction of $262,924.20. Following the sale, the chief executive officer now directly owns 73,051 shares of the company’s stock, valued at approximately $19,598,852.79. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 333,494 shares of company stock valued at $95,632,321. 18.99% of the stock is currently owned by insiders.

Arista Networks Profile

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.