IPG Investment Advisors LLC Increases Stake in Arista Networks, Inc. (NYSE:ANET)

IPG Investment Advisors LLC increased its holdings in Arista Networks, Inc. (NYSE:ANET) by 294.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,860 shares of the technology company’s stock after acquiring an additional 12,583 shares during the quarter. IPG Investment Advisors LLC’s holdings in Arista Networks were worth $1,864,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ANET. Fisher Asset Management LLC boosted its stake in shares of Arista Networks by 32.1% during the third quarter. Fisher Asset Management LLC now owns 6,717 shares of the technology company’s stock valued at $2,578,000 after purchasing an additional 1,633 shares in the last quarter. D.A. Davidson & CO. boosted its position in Arista Networks by 1.3% during the 3rd quarter. D.A. Davidson & CO. now owns 5,158 shares of the technology company’s stock valued at $1,980,000 after acquiring an additional 64 shares in the last quarter. Townsquare Capital LLC increased its holdings in shares of Arista Networks by 3.8% in the 3rd quarter. Townsquare Capital LLC now owns 7,769 shares of the technology company’s stock valued at $2,982,000 after acquiring an additional 288 shares during the period. Freedom Investment Management Inc. raised its position in shares of Arista Networks by 2.3% in the 3rd 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. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Arista Networks by 1.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 59,849 shares of the technology company’s stock worth $22,971,000 after purchasing an additional 569 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Stock Down 1.3 %

Shares of ANET opened at $77.91 on Friday. The company has a market capitalization of $98.25 billion, a price-to-earnings ratio of 35.09, a PEG ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 52 week low of $60.08 and a 52 week high of $133.58. The stock’s 50-day moving average price is $99.16 and its 200-day moving average price is $101.80.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. The business 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, equities analysts anticipate that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ANET. Barclays reiterated an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. The Goldman Sachs Group reiterated a “buy” rating on shares of Arista Networks in a research note on Monday, March 3rd. Rosenblatt Securities reiterated a “sell” rating and set a $80.00 price objective on shares of Arista Networks in a report on Tuesday, February 18th. StockNews.com downgraded Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Finally, Erste Group Bank cut Arista Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $114.00.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, SVP Marc Taxay sold 51,848 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $88.59, for a total transaction of $4,593,214.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $118.47, for a total value of $9,477,600.00. Following the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at $1,537,266.72. The trade was a 86.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 491,001 shares of company stock valued at $49,112,111. Corporate insiders own 3.54% of the company’s stock.

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.