Everpar Advisors LLC Acquires Shares of 2,129 Arista Networks, Inc. (NYSE:ANET)

Everpar Advisors LLC acquired a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,129 shares of the technology company’s stock, valued at approximately $501,000.

Other institutional investors also recently added to or reduced their stakes in the company. Rakuten Securities Inc. acquired a new position in shares of Arista Networks in the 4th quarter worth approximately $35,000. Atticus Wealth Management LLC boosted its holdings in shares of Arista Networks by 3,625.0% in the 4th quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock worth $35,000 after acquiring an additional 145 shares in the last quarter. Larson Financial Group LLC acquired a new position in shares of Arista Networks in the 3rd quarter worth approximately $28,000. Sandy Spring Bank boosted its holdings in shares of Arista Networks by 33.6% in the 4th quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock worth $37,000 after acquiring an additional 39 shares in the last quarter. Finally, First Command Advisory Services Inc. acquired a new position in shares of Arista Networks in the 3rd quarter worth approximately $29,000. 82.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ANET has been the subject of several research analyst reports. Melius Research upgraded shares of Arista Networks from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a research report on Monday, January 8th. Wells Fargo & Company boosted their price objective on shares of Arista Networks from $225.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Barclays boosted their price objective on shares of Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. Melius upgraded shares of Arista Networks from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $320.00 target price on shares of Arista Networks in a research report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $285.53.

Arista Networks Trading Down 1.7 %

Shares of NYSE ANET traded down $4.85 during mid-day trading on Tuesday, hitting $273.97. The company had a trading volume of 4,044,673 shares, compared to its average volume of 2,468,249. The company has a market capitalization of $85.65 billion, a PE ratio of 41.70, a price-to-earnings-growth ratio of 2.33 and a beta of 1.13. The firm has a 50-day simple moving average of $279.22 and a two-hundred day simple moving average of $251.25. Arista Networks, Inc. has a one year low of $133.42 and a one year high of $307.74.

Arista Networks (NYSE:ANET) last issued its earnings results on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.38. Arista Networks had a net margin of 35.62% and a return on equity of 31.44%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the business posted $1.25 EPS. Arista Networks’s revenue was up 20.8% on a year-over-year basis. Sell-side analysts expect that Arista Networks, Inc. will post 6.74 earnings per share for the current fiscal year.

Arista Networks declared that its Board of Directors has initiated a share repurchase plan on Tuesday, May 7th that permits the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Arista Networks news, Director Yvonne Wassenaar sold 224 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now directly owns 2,827 shares in the company, valued at $721,704.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Arista Networks news, Director Yvonne Wassenaar sold 224 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now directly owns 2,827 shares in the company, valued at $721,704.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John F. Mccool sold 420 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $266.08, for a total transaction of $111,753.60. The disclosure for this sale can be found here. Insiders sold 337,474 shares of company stock worth $96,640,840 over the last three months. Insiders own 3.54% of the company’s stock.

About Arista Networks

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.