Larson Financial Group LLC Has $47,000 Stock Position in Arista Networks, Inc. (NYSE:ANET)

Larson Financial Group LLC lifted its stake in Arista Networks, Inc. (NYSE:ANET) by 30.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 199 shares of the technology company’s stock after purchasing an additional 47 shares during the quarter. Larson Financial Group LLC’s holdings in Arista Networks were worth $47,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Illinois Municipal Retirement Fund boosted its position in shares of Arista Networks by 9.8% in the 4th quarter. Illinois Municipal Retirement Fund now owns 60,515 shares of the technology company’s stock valued at $14,252,000 after purchasing an additional 5,386 shares during the period. PDS Planning Inc boosted its position in Arista Networks by 3.1% during the 4th quarter. PDS Planning Inc now owns 1,376 shares of the technology company’s stock worth $324,000 after acquiring an additional 41 shares during the period. Jennison Associates LLC boosted its position in Arista Networks by 0.8% during the 4th quarter. Jennison Associates LLC now owns 1,807,494 shares of the technology company’s stock worth $425,683,000 after acquiring an additional 14,627 shares during the period. OLD National Bancorp IN acquired a new stake in Arista Networks during the 4th quarter worth about $235,000. Finally, Handelsbanken Fonder AB boosted its position in Arista Networks by 49.0% during the 4th quarter. Handelsbanken Fonder AB now owns 131,959 shares of the technology company’s stock worth $31,078,000 after acquiring an additional 43,410 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Performance

Shares of ANET stock opened at $264.59 on Friday. The stock’s 50 day simple moving average is $279.04 and its 200 day simple moving average is $246.38. Arista Networks, Inc. has a twelve month low of $131.68 and a twelve month high of $307.74. The company has a market capitalization of $82.72 billion, a price-to-earnings ratio of 40.27, a PEG ratio of 2.15 and a beta of 1.09.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The firm’s revenue was up 20.8% compared to the same quarter last year. During the same period last year, the business earned $1.25 EPS. On average, analysts forecast that Arista Networks, Inc. will post 6.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Melius Research upgraded Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a research report on Monday, January 8th. Evercore ISI restated an “outperform” rating and set a $300.00 price objective on shares of Arista Networks in a research report on Wednesday, March 27th. Barclays lifted their price target on Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. Rosenblatt Securities reiterated a “sell” rating and set a $210.00 price target on shares of Arista Networks in a report on Friday, April 12th. Finally, JMP Securities reiterated a “market outperform” rating and set a $325.00 price target on shares of Arista Networks in a report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $275.59.

Insiders Place Their Bets

In other Arista Networks news, CEO Jayshree Ullal sold 980 shares of Arista Networks stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $268.29, for a total value of $262,924.20. Following the transaction, the chief executive officer now directly owns 73,051 shares of the company’s stock, valued at approximately $19,598,852.79. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Arista Networks news, Director Yvonne Wassenaar sold 224 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total value of $57,184.96. Following the transaction, the director now owns 2,827 shares of the company’s stock, valued at $721,704.83. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jayshree Ullal sold 980 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $268.29, for a total value of $262,924.20. Following the completion of the transaction, the chief executive officer now directly owns 73,051 shares in the company, valued at approximately $19,598,852.79. The disclosure for this sale can be found here. Insiders have sold a total of 333,494 shares of company stock valued at $95,632,321 in the last three months. Company insiders own 18.99% of the company’s stock.

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.