Arista Networks, Inc. (NYSE:ANET) Holdings Raised by Bigelow Investment Advisors LLC

Bigelow Investment Advisors LLC increased its stake in Arista Networks, Inc. (NYSE:ANET) by 2.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,966 shares of the technology company’s stock after purchasing an additional 47 shares during the quarter. Bigelow Investment Advisors LLC’s holdings in Arista Networks were worth $463,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC acquired a new stake in shares of Arista Networks in the third quarter worth $28,000. First Command Advisory Services Inc. acquired a new stake in Arista Networks during the 3rd quarter worth about $29,000. Hollencrest Capital Management purchased a new position in Arista Networks during the 1st quarter valued at about $30,000. BluePath Capital Management LLC acquired a new position in shares of Arista Networks in the 3rd quarter valued at about $33,000. Finally, NBC Securities Inc. purchased a new stake in shares of Arista Networks in the third quarter worth approximately $33,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Insider Buying and Selling

In other news, Director Yvonne Wassenaar sold 224 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $255.29, for a total transaction of $57,184.96. Following the completion of the transaction, the director now owns 2,827 shares of the company’s stock, valued at $721,704.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Yvonne Wassenaar sold 224 shares of Arista Networks stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $255.29, for a total transaction of $57,184.96. Following the sale, the director now owns 2,827 shares of the company’s stock, valued at approximately $721,704.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kenneth Duda sold 20,000 shares of the company’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $290.05, for a total value of $5,801,000.00. Following the completion of the transaction, the senior vice president now owns 3,244 shares of the company’s stock, valued at $940,922.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 342,229 shares of company stock valued at $97,968,530. 18.99% of the stock is owned by company insiders.

Arista Networks Stock Performance

Shares of NYSE:ANET traded down $11.10 during midday trading on Friday, hitting $246.09. The company’s stock had a trading volume of 2,925,059 shares, compared to its average volume of 2,456,835. The stock’s 50 day simple moving average is $281.02 and its 200 day simple moving average is $244.15. The stock has a market capitalization of $76.94 billion, a price-to-earnings ratio of 39.16, a PEG ratio of 2.21 and a beta of 1.09. Arista Networks, Inc. has a fifty-two week low of $131.68 and a fifty-two week high of $307.74.

Arista Networks (NYSE:ANET) last released its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the firm posted $1.25 EPS. The company’s revenue was up 20.8% on a year-over-year basis. As a group, analysts anticipate that Arista Networks, Inc. will post 6.7 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ANET. Oppenheimer reaffirmed a “market perform” rating on shares of Arista Networks in a research report on Tuesday, February 13th. JPMorgan Chase & Co. increased their price objective on Arista Networks from $297.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Needham & Company LLC restated a “buy” rating and issued a $320.00 target price on shares of Arista Networks in a research note on Tuesday, February 13th. KeyCorp raised their price target on Arista Networks from $232.00 to $287.00 and gave the stock an “overweight” rating in a research note on Thursday, January 18th. Finally, Rosenblatt Securities reissued a “sell” rating and issued a $210.00 price target on shares of Arista Networks in a research note on Friday, April 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $275.59.

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.