Arista Networks, Inc. (NYSE:ANET) Holdings Lifted by Farther Finance Advisors LLC

Farther Finance Advisors LLC grew its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 328.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,253 shares of the technology company’s stock after buying an additional 7,094 shares during the period. Farther Finance Advisors LLC’s holdings in Arista Networks were worth $1,023,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ANET. Intellectus Partners LLC increased its stake in Arista Networks by 1.4% during the 3rd quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock valued at $740,000 after buying an additional 27 shares during the period. Zions Bancorporation N.A. increased its stake in shares of Arista Networks by 6.9% during the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock valued at $160,000 after acquiring an additional 27 shares during the period. Altman Advisors Inc. raised its holdings in Arista Networks by 0.5% during the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after purchasing an additional 28 shares in the last quarter. Anchor Investment Management LLC lifted its position in Arista Networks by 35.0% in the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after purchasing an additional 35 shares during the period. Finally, Freedom Investment Management Inc. boosted its stake in Arista Networks by 2.3% during the 3rd quarter. Freedom Investment Management Inc. now owns 1,621 shares of the technology company’s stock valued at $622,000 after purchasing an additional 36 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Kelly Bodnar Battles sold 1,488 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $107.13, for a total value of $159,409.44. Following the transaction, the director now owns 8,128 shares in the company, valued at approximately $870,752.64. This represents a 15.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $111.51, for a total transaction of $892,080.00. Following the completion of the sale, the director now owns 163,784 shares of the company’s stock, valued at $18,263,553.84. This trade represents a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 491,001 shares of company stock worth $49,112,111. Corporate insiders own 3.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Rosenblatt Securities reissued a “sell” rating and issued a $80.00 price objective on shares of Arista Networks in a research note on Tuesday, February 18th. UBS Group raised shares of Arista Networks from a “neutral” rating to a “buy” rating and upped their price target for the company from $112.00 to $115.00 in a report on Wednesday, March 5th. StockNews.com downgraded shares of Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Morgan Stanley raised their target price on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Barclays reaffirmed an “overweight” rating on shares of Arista Networks in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $114.00.

Arista Networks Price Performance

NYSE:ANET opened at $83.58 on Friday. The stock has a market cap of $105.41 billion, a PE ratio of 37.65, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.58. The stock’s 50-day moving average is $105.75 and its two-hundred day moving average is $101.71.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. On average, equities research analysts anticipate that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

About Arista Networks

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.