BLB&B Advisors LLC Has $16.46 Million Stock Position in Arista Networks, Inc. (NYSE:ANET)

BLB&B Advisors LLC grew its stake in Arista Networks, Inc. (NYSE:ANET) by 289.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 148,942 shares of the technology company’s stock after acquiring an additional 110,667 shares during the period. Arista Networks accounts for about 0.8% of BLB&B Advisors LLC’s investment portfolio, making the stock its 28th biggest position. BLB&B Advisors LLC’s holdings in Arista Networks were worth $16,463,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. MidAtlantic Capital Management Inc. bought a new position in shares of Arista Networks in the 3rd quarter valued at about $44,000. HM Payson & Co. boosted its stake in Arista Networks by 28.2% in the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after acquiring an additional 29 shares during the last quarter. True Wealth Design LLC grew its holdings in Arista Networks by 2,133.3% during the 3rd quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after acquiring an additional 128 shares during the period. Anchor Investment Management LLC raised its position in shares of Arista Networks by 35.0% during the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after acquiring an additional 35 shares during the last quarter. Finally, ORG Partners LLC lifted its stake in shares of Arista Networks by 186.0% in the 3rd quarter. ORG Partners LLC now owns 143 shares of the technology company’s stock valued at $55,000 after purchasing an additional 93 shares during the period. 82.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ANET. Morgan Stanley lifted their price objective on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Wells Fargo & Company increased their price target on shares of Arista Networks from $97.50 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group boosted their price objective on shares of Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a report on Friday, January 17th. Finally, Evercore ISI increased their target price on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $105.83.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $118.52 on Friday. The firm has a market cap of $149.31 billion, a price-to-earnings ratio of 56.98, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. The stock’s 50-day moving average is $112.87 and its 200-day moving average is $99.58. Arista Networks, Inc. has a one year low of $60.08 and a one year high of $133.57.

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

Insider Transactions at Arista Networks

In related news, insider John F. Mccool sold 288 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $108.70, for a total transaction of $31,305.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $112.02, for a total value of $896,160.00. Following the completion of the transaction, the director now owns 155,784 shares of the company’s stock, valued at approximately $17,450,923.68. This represents a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 255,832 shares of company stock valued at $28,538,497 over the last 90 days. 3.54% of the stock is owned by corporate insiders.

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.