WBI Investments LLC Buys New Shares in Arista Networks, Inc. $ANET

WBI Investments LLC purchased a new position in shares of Arista Networks, Inc. (NYSE:ANET) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,968 shares of the technology company’s stock, valued at approximately $1,598,000.

Other hedge funds also recently bought and sold shares of the company. Bare Financial Services Inc grew its position in shares of Arista Networks by 2,118.2% during the second quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after buying an additional 233 shares in the last quarter. AdvisorNet Financial Inc raised its holdings in Arista Networks by 56.7% in the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after acquiring an additional 72 shares in the last quarter. Knuff & Co LLC purchased a new position in Arista Networks in the third quarter worth approximately $29,000. Richardson Financial Services Inc. grew its holdings in Arista Networks by 141.3% during the 3rd quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock worth $32,000 after acquiring an additional 130 shares in the last quarter. Finally, Quarry LP acquired a new position in Arista Networks during the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ANET. UBS Group set a $200.00 price objective on shares of Arista Networks in a report on Tuesday, February 24th. Needham & Company LLC boosted their target price on shares of Arista Networks from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. The Goldman Sachs Group reissued a “buy” rating and issued a $188.00 target price (up from $165.00) on shares of Arista Networks in a report on Friday, February 13th. Weiss Ratings restated a “hold (c+)” rating on shares of Arista Networks in a research note on Monday, December 29th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price target on shares of Arista Networks in a report on Friday, February 13th. Eighteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and an average target price of $176.47.

Insider Transactions at Arista Networks

In related news, Director Kelly Bodnar Battles sold 422 shares of the company’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $128.06, for a total value of $54,041.32. Following the completion of the sale, the director directly owned 9,529 shares of the company’s stock, valued at $1,220,283.74. This represents a 4.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kenneth Duda sold 26,000 shares of Arista Networks stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $142.35, for a total value of $3,701,100.00. Following the transaction, the insider directly owned 512,400 shares in the company, valued at approximately $72,940,140. This trade represents a 4.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 140,237 shares of company stock worth $18,968,800 over the last three months. 3.54% of the stock is currently owned by company insiders.

Arista Networks Trading Down 1.7%

Shares of Arista Networks stock opened at $133.02 on Wednesday. The company has a fifty day simple moving average of $134.83 and a 200-day simple moving average of $137.32. The stock has a market cap of $167.14 billion, a price-to-earnings ratio of 48.19, a PEG ratio of 2.40 and a beta of 1.46. Arista Networks, Inc. has a 12-month low of $59.43 and a 12-month high of $164.94.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Thursday, February 12th. The technology company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.75 by $0.07. Arista Networks had a net margin of 38.99% and a return on equity of 30.37%. The firm had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same period last year, the business earned $0.66 EPS. Arista Networks’s revenue for the quarter was up 28.9% compared to the same quarter last year. On average, analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current fiscal year.

Arista Networks Company Profile

Arista Networks, Inc is a technology company that designs and sells cloud networking solutions for large-scale data centers and enterprise environments. The company is best known for its high-performance switching and routing platforms, which are used to build scalable, low-latency networks for cloud service providers, internet companies, financial services, telecommunications, and enterprise IT. Arista’s offerings emphasize programmability, automation and telemetry to support modern, software-driven network architectures.

Central to Arista’s product portfolio is its Extensible Operating System (EOS), a modular network operating system that provides consistent programmability, stateful control and advanced visibility across the company’s hardware platforms.