Advisory Services Network LLC Increases Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Advisory Services Network LLC boosted its holdings in Arista Networks, Inc. (NYSE:ANET) by 294.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 178,417 shares of the technology company’s stock after acquiring an additional 133,187 shares during the period. Advisory Services Network LLC’s holdings in Arista Networks were worth $19,720,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Anchor Investment Management LLC grew its holdings in Arista Networks by 35.0% in the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after buying an additional 35 shares during the period. Caitlin John LLC grew its stake in shares of Arista Networks by 174.7% in the fourth quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after buying an additional 152 shares in the last quarter. Capital Advisors Ltd. LLC raised its holdings in shares of Arista Networks by 335.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock valued at $27,000 after buying an additional 191 shares during the period. New Millennium Group LLC lifted its position in Arista Networks by 300.0% during the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after acquiring an additional 195 shares in the last quarter. Finally, Cranbrook Wealth Management LLC boosted its holdings in Arista Networks by 300.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 264 shares of the technology company’s stock worth $29,000 after acquiring an additional 198 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ANET. UBS Group upgraded shares of Arista Networks from a “neutral” rating to a “buy” rating and upped their target price for the company from $112.00 to $115.00 in a research note on Wednesday, March 5th. Evercore ISI raised their target price on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Morgan Stanley lifted their target price on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Rosenblatt Securities reissued a “sell” rating and issued a $80.00 price target on shares of Arista Networks in a report on Tuesday, February 18th. Finally, Citigroup upped their target price on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Arista Networks presently has a consensus rating of “Moderate Buy” and an average target price of $114.00.

Insider Buying and Selling

In other news, Director Kelly Bodnar Battles sold 1,488 shares of Arista Networks stock in a transaction that occurred on Friday, February 14th. The shares were 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 of the company’s stock, valued at $870,752.64. This trade represents a 15.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $112.02, for a total transaction of $896,160.00. Following the completion of the transaction, the director now owns 155,784 shares in the company, valued at $17,450,923.68. This trade represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 411,001 shares of company stock valued at $39,362,831. Corporate insiders own 3.54% of the company’s stock.

Arista Networks Stock Performance

Shares of ANET stock opened at $68.12 on Tuesday. The firm has a market capitalization of $85.91 billion, a PE ratio of 30.68, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30. Arista Networks, Inc. has a 1 year low of $59.43 and a 1 year high of $133.58. The stock has a fifty day moving average of $93.37 and a two-hundred day moving average of $101.18.

Arista Networks (NYSE:ANET) last released its earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 29.91% and a net margin of 40.72%. Equities research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

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.