Transamerica Financial Advisors Inc. Raises Holdings in Arista Networks, Inc. (NYSE:ANET)

Transamerica Financial Advisors Inc. lifted its holdings in Arista Networks, Inc. (NYSE:ANET) by 288.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,959 shares of the technology company’s stock after purchasing an additional 48,973 shares during the quarter. Arista Networks accounts for about 0.7% of Transamerica Financial Advisors Inc.’s investment portfolio, making the stock its 26th biggest holding. Transamerica Financial Advisors Inc.’s holdings in Arista Networks were worth $7,291,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stock Yards Bank & Trust Co. bought a new stake in Arista Networks in the 4th quarter worth approximately $242,000. GHE LLC increased its position in Arista Networks by 319.0% during the fourth quarter. GHE LLC now owns 28,368 shares of the technology company’s stock valued at $3,136,000 after acquiring an additional 21,597 shares during the last quarter. Colonial River Investments LLC lifted its holdings in Arista Networks by 327.6% in the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock valued at $1,077,000 after acquiring an additional 7,466 shares during the period. Unified Investment Management purchased a new position in Arista Networks in the fourth quarter worth about $630,000. Finally, Berkshire Capital Holdings Inc. grew its stake in shares of Arista Networks by 257.6% during the 4th quarter. Berkshire Capital Holdings Inc. now owns 76,950 shares of the technology company’s stock valued at $8,505,000 after purchasing an additional 55,430 shares during the period. 82.47% of the stock is owned by institutional investors.

Arista Networks Stock Performance

ANET opened at $77.91 on Friday. The stock 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. The company has a fifty day moving average of $99.16 and a 200 day moving average of $101.66. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.58.

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

Insider Transactions at Arista Networks

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

Analyst Upgrades and Downgrades

ANET has been the topic of a number of research reports. Needham & Company LLC reissued a “buy” rating and issued a $145.00 price objective on shares of Arista Networks in a report on Wednesday, February 19th. Citigroup boosted their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Evercore ISI lifted their target price on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Erste Group Bank lowered Arista Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, March 17th. Finally, Barclays reaffirmed an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. One 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 company’s stock. Based on data from MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and a consensus target price of $114.00.

Arista Networks Company 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.