Peak Financial Advisors LLC Purchases New Shares in Arista Networks, Inc. $ANET

Peak Financial Advisors LLC purchased a new position in Arista Networks, Inc. (NYSE:ANET) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,863 shares of the technology company’s stock, valued at approximately $637,000.

A number of other large investors also recently added to or reduced their stakes in ANET. Global Trust Asset Management LLC raised its holdings in shares of Arista Networks by 33.0% during the third quarter. Global Trust Asset Management LLC now owns 19,273 shares of the technology company’s stock valued at $2,808,000 after acquiring an additional 4,780 shares during the last quarter. Rakuten Investment Management Inc. acquired a new stake in shares of Arista Networks in the third quarter worth approximately $8,263,000. National Wealth Management Group LLC acquired a new stake in shares of Arista Networks in the third quarter worth approximately $1,296,000. Holocene Advisors LP purchased a new stake in shares of Arista Networks during the second quarter worth approximately $247,451,000. Finally, Three Seasons Wealth LLC acquired a new position in Arista Networks in the 3rd quarter valued at $2,483,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Arista Networks Price Performance

Shares of NYSE ANET opened at $134.87 on Thursday. The company has a market capitalization of $169.47 billion, a P/E ratio of 48.87, a P/E/G ratio of 2.32 and a beta of 1.46. The company has a 50 day simple moving average of $135.83 and a 200-day simple moving average of $137.14. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $164.94.

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

Insider Activity

In other news, insider Kenneth Duda sold 32,000 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $134.14, for a total transaction of $4,292,480.00. Following the completion of the transaction, the insider directly owned 12,976 shares in the company, valued at approximately $1,740,600.64. This represents a 71.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Yvonne Wassenaar sold 1,815 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $132.44, for a total transaction of $240,378.60. Following the completion of the sale, the director owned 12,574 shares in the company, valued at approximately $1,665,300.56. This trade represents a 12.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 199,632 shares of company stock valued at $26,936,324 in the last quarter. Insiders own 3.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ANET shares. Rosenblatt Securities upped their target price on shares of Arista Networks from $140.00 to $165.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. TD Cowen assumed coverage on shares of Arista Networks in a research note on Thursday, March 12th. They set a “buy” rating and a $170.00 price objective for the company. Morgan Stanley reissued an “overweight” rating and issued a $165.00 target price on shares of Arista Networks in a research note on Friday, February 13th. The Goldman Sachs Group restated a “buy” rating and issued a $188.00 price target (up from $165.00) on shares of Arista Networks in a research report on Friday, February 13th. Finally, Wells Fargo & Company lifted their price objective on Arista Networks from $175.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. Eighteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $176.47.

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.