WBI Investments LLC Acquires Shares of 10,968 Arista Networks, Inc. $ANET

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

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bare Financial Services Inc lifted its position in Arista Networks by 2,118.2% during the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after acquiring an additional 233 shares during the period. AdvisorNet Financial Inc raised its stake in shares of Arista Networks by 56.7% during the third quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock worth $29,000 after purchasing an additional 72 shares during the last quarter. Knuff & Co LLC acquired a new stake in shares of Arista Networks during the third quarter worth $29,000. Richardson Financial Services Inc. grew its position in Arista Networks by 141.3% in the 3rd quarter. Richardson Financial Services Inc. now owns 222 shares of the technology company’s stock valued at $32,000 after buying an additional 130 shares during the last quarter. Finally, Quarry LP acquired a new position in Arista Networks in the 3rd quarter valued at $33,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Arista Networks Stock Performance

ANET opened at $133.02 on Wednesday. The company 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 one year low of $59.43 and a one year high of $164.94. The business’s fifty day moving average is $134.83 and its two-hundred day moving average is $137.32.

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ANET shares. Wells Fargo & Company lifted their target price on shares of Arista Networks from $175.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, February 13th. Barclays reiterated an “overweight” rating and set a $184.00 target price (up from $183.00) on shares of Arista Networks in a research report on Friday, February 13th. UBS Group set a $200.00 price target on Arista Networks in a research note on Tuesday, February 24th. Needham & Company LLC increased their price objective on Arista Networks from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Finally, Evercore reissued an “outperform” rating and issued a $200.00 target price on shares of Arista Networks in a report on Friday, February 13th. Eighteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $176.47.

Insider Buying and Selling at Arista Networks

In other news, Director Yvonne Wassenaar sold 1,815 shares of the company’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $132.44, for a total value of $240,378.60. Following the sale, the director directly owned 12,574 shares in the company, valued at $1,665,300.56. This represents a 12.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $140.43, for a total value of $1,123,440.00. Following the sale, the director owned 9,784 shares of the company’s stock, valued at approximately $1,373,967.12. This represents a 44.98% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 140,237 shares of company stock valued at $18,968,800. Company insiders own 3.54% of the company’s stock.

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.