Beacon Financial Advisory LLC Grows Holdings in Arista Networks, Inc. (NYSE:ANET)

Beacon Financial Advisory LLC lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 331.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,761 shares of the technology company’s stock after buying an additional 2,121 shares during the quarter. Beacon Financial Advisory LLC’s holdings in Arista Networks were worth $305,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Zions Bancorporation N.A. grew its stake in Arista Networks by 6.9% in the 3rd quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after acquiring an additional 27 shares during the period. Intellectus Partners LLC boosted its holdings in shares of Arista Networks by 1.4% during the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after purchasing an additional 27 shares during the last quarter. First Affirmative Financial Network grew its position in shares of Arista Networks by 4.3% in the third quarter. First Affirmative Financial Network now owns 682 shares of the technology company’s stock valued at $262,000 after purchasing an additional 28 shares during the period. Altman Advisors Inc. increased its stake in Arista Networks by 0.5% in the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock valued at $2,250,000 after purchasing an additional 28 shares during the last quarter. Finally, HM Payson & Co. lifted its position in Arista Networks by 28.2% during the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock worth $51,000 after buying an additional 29 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Ratings Changes

ANET has been the subject of a number of research analyst reports. Morgan Stanley upped their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Rosenblatt Securities upped their price target on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research report on Friday, November 8th. Barclays decreased their price target on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Finally, The Goldman Sachs Group boosted their price target on Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $105.83.

Arista Networks Trading Down 0.3 %

NYSE ANET opened at $115.11 on Friday. The stock has a market cap of $145.01 billion, a P/E ratio of 55.34, a PEG ratio of 3.10 and a beta of 1.09. The company’s fifty day simple moving average is $112.58 and its 200-day simple moving average is $99.48. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.57.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Arista Networks had a net margin of 40.29% and a return on equity of 30.52%. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 EPS. On average, research analysts expect that Arista Networks, Inc. will post 1.97 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jayshree Ullal sold 71,036 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $100.06, for a total value of $7,107,506.98. Following the sale, the chief executive officer now owns 70,724 shares in the company, valued at approximately $7,076,289.82. This represents a 50.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $112.02, for a total value of $896,160.00. Following the completion of the transaction, the director now owns 155,784 shares of the company’s stock, valued at $17,450,923.68. This trade represents a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 255,832 shares of company stock worth $28,538,497. 3.54% of the stock is currently owned by corporate 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.