Farther Finance Advisors LLC Has $1.02 Million Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

Farther Finance Advisors LLC lifted its position in Arista Networks, Inc. (NYSE:ANET) by 328.6% in the fourth quarter, according to 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 quarter. 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.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Caitlin John LLC grew its holdings in Arista Networks by 174.7% in the 4th quarter. Caitlin John LLC now owns 239 shares of the technology company’s stock valued at $26,000 after buying an additional 152 shares during the last quarter. Capital Advisors Ltd. LLC grew its stake in shares of Arista Networks by 335.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after acquiring an additional 191 shares during the last quarter. Cranbrook Wealth Management LLC increased its position in Arista Networks by 300.0% during the fourth 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. Trust Co. of Vermont boosted its holdings in Arista Networks by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 264 shares of the technology company’s stock valued at $29,000 after purchasing an additional 198 shares during the period. Finally, New Millennium Group LLC grew its position in Arista Networks by 300.0% in the 4th quarter. New Millennium Group LLC now owns 260 shares of the technology company’s stock worth $29,000 after purchasing an additional 195 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Evercore ISI upped their price objective on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Needham & Company LLC reiterated a “buy” rating and issued a $145.00 price objective on shares of Arista Networks in a research report on Wednesday, February 19th. Barclays restated an “overweight” rating on shares of Arista Networks in a research report on Monday, March 3rd. Morgan Stanley raised 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. Finally, Citigroup increased their price objective on shares of Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $114.00.

Insider Activity

In other news, 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 in the company, valued at $18,263,553.84. The trade was a 4.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Marc Taxay sold 51,848 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $88.59, for a total transaction of $4,593,214.32. The disclosure for this sale can be found here. Insiders have sold 491,001 shares of company stock valued at $49,112,111 over the last three months. 3.54% of the stock is owned by insiders.

Arista Networks Stock Performance

Shares of ANET opened at $83.58 on Friday. The stock has a fifty day moving average price of $105.75 and a two-hundred day moving average price of $101.71. The company has a market cap of $105.41 billion, a price-to-earnings ratio of 37.65, a PEG ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a 52-week low of $60.08 and a 52-week high of $133.58.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. As a group, research analysts predict that Arista Networks, Inc. will post 2.2 EPS 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.