Realta Investment Advisors Boosts Stock Position in Arista Networks, Inc. (NYSE:ANET)

Realta Investment Advisors grew its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 315.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,967 shares of the technology company’s stock after purchasing an additional 8,325 shares during the quarter. Realta Investment Advisors’ holdings in Arista Networks were worth $1,263,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Brookstone Capital Management lifted its stake in Arista Networks by 21.5% in the third quarter. Brookstone Capital Management now owns 18,113 shares of the technology company’s stock valued at $6,952,000 after purchasing an additional 3,204 shares during the last quarter. CWM LLC raised its stake in shares of Arista Networks by 12.5% in the third quarter. CWM LLC now owns 17,931 shares of the technology company’s stock valued at $6,882,000 after buying an additional 1,989 shares during the period. Wedmont Private Capital lifted its position in shares of Arista Networks by 6.0% during the 3rd quarter. Wedmont Private Capital now owns 4,354 shares of the technology company’s stock valued at $1,709,000 after buying an additional 245 shares during the last quarter. Perpetual Ltd grew its stake in shares of Arista Networks by 25.4% during the 3rd quarter. Perpetual Ltd now owns 5,703 shares of the technology company’s stock worth $2,189,000 after acquiring an additional 1,156 shares during the period. Finally, Sendero Wealth Management LLC raised its stake in Arista Networks by 2.7% in the 3rd quarter. Sendero Wealth Management LLC now owns 27,241 shares of the technology company’s stock valued at $10,456,000 after acquiring an additional 723 shares during the period. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Stock Performance

Arista Networks stock opened at $115.11 on Friday. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57. The firm’s fifty day moving average price is $112.87 and its 200-day moving average price is $99.58. The stock has a market cap of $145.01 billion, a P/E ratio of 55.34, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09.

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

Insider Buying and Selling

In other news, SVP Kenneth Duda sold 80,000 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $108.29, for a total value of $8,663,200.00. Following the completion of the sale, the senior vice president now owns 12,976 shares of the company’s stock, valued at approximately $1,405,171.04. The trade was a 86.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles H. Giancarlo sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $112.02, for a total value of $896,160.00. Following the transaction, the director now owns 155,784 shares in the company, valued at approximately $17,450,923.68. The trade was a 4.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 255,832 shares of company stock worth $28,538,497 in the last quarter. 3.54% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ANET has been the subject of several recent research reports. Barclays reduced their target price on shares of Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Rosenblatt Securities lifted their price objective on shares of Arista Networks from $66.25 to $80.00 and gave the company a “sell” rating in a research note on Friday, November 8th. Evercore ISI increased their target price on Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. StockNews.com cut Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Finally, Morgan Stanley increased their price objective on Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $105.83.

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.