Arista Networks, Inc. $ANET Shares Bought by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. boosted its stake in shares of Arista Networks, Inc. (NYSE:ANET) by 42.9% in the 3rd quarter, Holdings Channel reports. The fund owned 53,963 shares of the technology company’s stock after buying an additional 16,194 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Arista Networks were worth $7,863,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Management Associates Inc acquired a new stake in shares of Arista Networks in the third quarter worth approximately $229,000. Chicago Capital LLC increased its position in Arista Networks by 4.7% during the third quarter. Chicago Capital LLC now owns 27,616 shares of the technology company’s stock worth $4,024,000 after purchasing an additional 1,234 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Arista Networks by 28.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 3,946,087 shares of the technology company’s stock valued at $574,984,000 after buying an additional 878,023 shares during the period. Bigelow Investment Advisors LLC purchased a new stake in Arista Networks in the third quarter valued at $1,292,000. Finally, WESPAC Advisors SoCal LLC purchased a new stake in Arista Networks in the 3rd quarter valued at about $1,075,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ANET shares. Needham & Company LLC increased their price target on shares of Arista Networks from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. BNP Paribas Exane raised Arista Networks from a “neutral” rating to an “outperform” rating and set a $172.00 price target for the company in a report on Thursday, September 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Arista Networks in a report on Monday, December 29th. Wolfe Research raised their price objective on Arista Networks from $160.00 to $185.00 and gave the stock an “outperform” rating in a report on Friday, September 12th. Finally, Zacks Research lowered shares of Arista Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Eighteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $164.44.

Insider Activity

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $157.12, for a total value of $1,256,960.00. Following the transaction, the director owned 33,784 shares in the company, valued at $5,308,142.08. The trade was a 19.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kenneth Duda sold 30,000 shares of the stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $123.16, for a total value of $3,694,800.00. Following the completion of the transaction, the insider directly owned 12,976 shares of the company’s stock, valued at $1,598,124.16. This represents a 69.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 208,464 shares of company stock valued at $27,418,668. 3.54% of the stock is currently owned by company insiders.

Arista Networks Trading Up 2.7%

Shares of ANET stock opened at $137.19 on Tuesday. The company has a market capitalization of $172.76 billion, a price-to-earnings ratio of 52.16, a PEG ratio of 2.25 and a beta of 1.41. The firm has a 50-day moving average price of $132.94 and a 200 day moving average price of $131.17. Arista Networks, Inc. has a twelve month low of $59.43 and a twelve month high of $164.94.

Arista Networks (NYSE:ANET) last issued its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.72 by $0.03. Arista Networks had a net margin of 39.73% and a return on equity of 30.28%. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the business posted $2.40 earnings per share. Arista Networks’s revenue for the quarter was up 27.5% compared to the same quarter last year. As a group, research analysts predict that Arista Networks, Inc. will post 2.2 earnings per share for the current year.

Arista Networks 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.