Arista Networks, Inc. (NYSE:ANET) Stock Position Lifted by LPL Financial LLC

LPL Financial LLC lifted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 343.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,110,595 shares of the technology company’s stock after purchasing an additional 860,179 shares during the quarter. LPL Financial LLC owned about 0.09% of Arista Networks worth $122,754,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Anchor Investment Management LLC raised its stake in shares of Arista Networks by 35.0% in the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after buying an additional 35 shares in the last quarter. Freedom Investment Management Inc. raised its position in Arista Networks by 2.3% in the third quarter. Freedom Investment Management Inc. now owns 1,621 shares of the technology company’s stock worth $622,000 after acquiring an additional 36 shares in the last quarter. LRI Investments LLC lifted its holdings in Arista Networks by 3.1% in the 3rd quarter. LRI Investments LLC now owns 1,368 shares of the technology company’s stock valued at $528,000 after acquiring an additional 41 shares during the last quarter. Rehmann Capital Advisory Group boosted its position in shares of Arista Networks by 3.8% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,177 shares of the technology company’s stock valued at $453,000 after purchasing an additional 43 shares in the last quarter. Finally, Brooklyn Investment Group grew its stake in shares of Arista Networks by 3.3% in the 3rd quarter. Brooklyn Investment Group now owns 1,862 shares of the technology company’s stock worth $715,000 after purchasing an additional 59 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Trading Up 5.3 %

NYSE ANET opened at $87.58 on Tuesday. Arista Networks, Inc. has a 1-year low of $60.08 and a 1-year high of $133.58. The firm’s fifty day simple moving average is $102.03 and its 200-day simple moving average is $101.92. The company has a market capitalization of $110.44 billion, a PE ratio of 39.45, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08.

Arista Networks (NYSE:ANET) last issued its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. As a group, analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ANET shares. Evercore ISI lifted their price target on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Rosenblatt Securities reiterated a “sell” rating and issued a $80.00 price target on shares of Arista Networks in a research report on Tuesday, February 18th. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Finally, UBS Group upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and raised their target price for the stock from $112.00 to $115.00 in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $114.00.

Insider Activity at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 138,351 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $93.88, for a total transaction of $12,988,391.88. Following the transaction, the chief executive officer now directly owns 92,641 shares in the company, valued at $8,697,137.08. This trade represents a 59.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $111.51, for a total value of $892,080.00. Following the sale, the director now owns 163,784 shares of the company’s stock, valued at approximately $18,263,553.84. This trade represents a 4.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 491,001 shares of company stock valued at $49,112,111. 3.54% of the stock is currently owned by corporate insiders.

Arista Networks Company 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.