Arista Networks, Inc. (NYSE:ANET) Shares Purchased by Beacon Financial Advisory LLC

Beacon Financial Advisory LLC lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 331.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,761 shares of the technology company’s stock after acquiring an additional 2,121 shares during the period. Beacon Financial Advisory LLC’s holdings in Arista Networks were worth $305,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of ANET. Brookstone Capital Management increased its stake in shares of Arista Networks by 21.5% in the third quarter. Brookstone Capital Management now owns 18,113 shares of the technology company’s stock valued at $6,952,000 after purchasing an additional 3,204 shares during the period. CWM LLC grew its holdings in Arista Networks by 12.5% in the 3rd quarter. CWM LLC now owns 17,931 shares of the technology company’s stock worth $6,882,000 after buying an additional 1,989 shares in the last quarter. Wedmont Private Capital increased its position in Arista Networks by 6.0% in the 3rd quarter. Wedmont Private Capital now owns 4,354 shares of the technology company’s stock valued at $1,709,000 after acquiring an additional 245 shares during the period. Perpetual Ltd raised its stake in Arista Networks by 25.4% during the 3rd quarter. Perpetual Ltd now owns 5,703 shares of the technology company’s stock valued at $2,189,000 after acquiring an additional 1,156 shares in the last quarter. Finally, Sendero Wealth Management LLC grew its stake in shares of Arista Networks by 2.7% in the third quarter. Sendero Wealth Management LLC now owns 27,241 shares of the technology company’s stock worth $10,456,000 after purchasing an additional 723 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.

Arista Networks Stock Down 0.3 %

Arista Networks stock opened at $115.11 on Friday. Arista Networks, Inc. has a 12 month low of $60.08 and a 12 month high of $133.57. The company’s fifty day simple moving average is $112.58 and its 200-day simple moving average is $99.48. The stock has a market cap of $145.01 billion, a P/E ratio of 55.34, a P/E/G ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last issued its earnings results on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.08. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. The business’s revenue was up 20.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 EPS. On average, equities research analysts expect that Arista Networks, Inc. will post 1.97 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ANET shares. Evercore ISI lifted their price target on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Rosenblatt Securities boosted their price target on shares of Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a research report on Friday, November 8th. Barclays reduced their price objective on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. The Goldman Sachs Group increased their target price on shares of Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Finally, StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.83.

Insider Activity at Arista Networks

In related news, CEO Jayshree Ullal sold 71,036 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $100.06, for a total value of $7,107,506.98. Following the completion of the sale, the chief executive officer now directly owns 70,724 shares in the company, valued at approximately $7,076,289.82. This represents a 50.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Charles H. Giancarlo sold 2,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $412.65, for a total value of $825,300.00. Following the transaction, the director now owns 42,946 shares in the company, valued at approximately $17,721,666.90. This trade represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 255,832 shares of company stock valued at $28,538,497. 3.54% of the stock is owned by corporate insiders.

Arista Networks 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.