Orion Porfolio Solutions LLC Grows Stock Holdings in Arista Networks, Inc. $ANET

Orion Porfolio Solutions LLC boosted its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 13.5% in the third quarter, HoldingsChannel reports. The firm owned 45,322 shares of the technology company’s stock after buying an additional 5,393 shares during the period. Orion Porfolio Solutions LLC’s holdings in Arista Networks were worth $6,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc grew its position in Arista Networks by 56.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after purchasing an additional 72 shares during the period. Richardson Financial Services Inc. lifted its holdings in shares of Arista Networks by 141.3% in the 3rd quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock valued at $32,000 after buying an additional 130 shares during the period. Bare Financial Services Inc grew its stake in shares of Arista Networks by 2,118.2% during the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after purchasing an additional 233 shares during the period. SJS Investment Consulting Inc. grew its position in Arista Networks by 979.2% during the third quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock valued at $38,000 after buying an additional 235 shares during the period. Finally, Guerra Advisors Inc acquired a new stake in Arista Networks during the third quarter valued at $41,000. 82.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Arista Networks news, Director Yvonne Wassenaar sold 1,815 shares of the company’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $132.44, for a total value of $240,378.60. Following the completion of the sale, the director directly owned 12,574 shares in the company, valued at $1,665,300.56. This represents a 12.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $140.43, for a total value of $1,123,440.00. Following the completion of the sale, the director directly owned 9,784 shares of the company’s stock, valued at $1,373,967.12. This trade represents a 44.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 196,237 shares of company stock valued at $25,865,760. Insiders own 3.39% of the company’s stock.

Arista Networks Trading Down 4.5%

ANET stock opened at $133.15 on Friday. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $164.94. The stock has a market cap of $167.31 billion, a price-to-earnings ratio of 48.24, a PEG ratio of 2.47 and a beta of 1.46. The business’s 50-day moving average is $134.45 and its 200 day moving average is $137.15.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Thursday, February 12th. The technology company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.07. The firm had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.38 billion. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The company’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same period last year, the firm posted $0.66 earnings per share. As a group, equities analysts forecast that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Analysts Set New Price Targets

ANET has been the subject of a number of analyst reports. Erste Group Bank downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. Morgan Stanley restated an “overweight” rating and issued a $165.00 price target on shares of Arista Networks in a research note on Friday, February 13th. Needham & Company LLC upped their price target on Arista Networks from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, February 13th. KeyCorp reiterated an “overweight” rating and set a $178.00 price target (up from $170.00) on shares of Arista Networks in a research report on Friday, February 13th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $188.00 price objective (up from $165.00) on shares of Arista Networks in a report on Friday, February 13th. Seventeen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Arista Networks has an average rating of “Moderate Buy” and a consensus target price of $176.88.

Arista Networks Company Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.