Traynor Capital Management Inc. Purchases 7,030 Shares of Arista Networks, Inc. $ANET

Traynor Capital Management Inc. raised its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 342.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,081 shares of the technology company’s stock after acquiring an additional 7,030 shares during the period. Traynor Capital Management Inc.’s holdings in Arista Networks were worth $1,323,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Bare Financial Services Inc raised its position in Arista Networks by 2,118.2% in the 2nd quarter. Bare Financial Services Inc now owns 244 shares of the technology company’s stock worth $25,000 after purchasing an additional 233 shares during the period. AdvisorNet Financial Inc boosted its holdings in Arista Networks by 56.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 199 shares of the technology company’s stock valued at $29,000 after acquiring an additional 72 shares during the period. Richardson Financial Services Inc. grew its position 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 during the last quarter. REAP Financial Group LLC increased its stake in Arista Networks by 108.0% in the 2nd quarter. REAP Financial Group LLC now owns 337 shares of the technology company’s stock worth $34,000 after purchasing an additional 175 shares during the period. Finally, SJS Investment Consulting Inc. lifted its position in Arista Networks by 979.2% in the third quarter. SJS Investment Consulting Inc. now owns 259 shares of the technology company’s stock valued at $38,000 after purchasing an additional 235 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

Insider Activity at Arista Networks

In other news, Director Charles H. Giancarlo sold 8,000 shares of Arista Networks stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $133.79, for a total transaction of $1,070,320.00. Following the completion of the transaction, the director directly owned 17,784 shares in the company, valued at approximately $2,379,321.36. This trade represents a 31.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kenneth Duda sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $128.61, for a total value of $3,858,300.00. Following the completion of the sale, the insider owned 12,976 shares in the company, valued at $1,668,843.36. The trade was a 69.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 216,464 shares of company stock valued at $27,687,068 in the last three months. Company insiders own 3.54% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Barclays reissued an “overweight” rating and set a $183.00 price target (up previously from $179.00) on shares of Arista Networks in a research report on Wednesday, November 5th. UBS Group reiterated a “buy” rating and set a $155.00 target price on shares of Arista Networks in a report on Wednesday, December 3rd. Erste Group Bank downgraded Arista Networks from a “buy” rating to a “hold” rating in a report on Monday, November 10th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Arista Networks in a report on Monday, December 29th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $140.00 target price on shares of Arista Networks in a report on Monday, November 24th. Seventeen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $164.44.

Arista Networks Stock Performance

ANET stock opened at $150.31 on Thursday. Arista Networks, Inc. has a fifty-two week low of $59.43 and a fifty-two week high of $164.94. The company has a market capitalization of $189.28 billion, a price-to-earnings ratio of 57.15, a price-to-earnings-growth ratio of 2.47 and a beta of 1.41. The business’s 50 day moving average price is $129.93 and its two-hundred day moving average price is $134.76.

Arista Networks (NYSE:ANET) last released its quarterly earnings results on Tuesday, November 4th. The technology company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.03. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.26 billion. Arista Networks had a return on equity of 30.28% and a net margin of 39.73%.The firm’s revenue was up 27.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.40 earnings per share. Sell-side analysts forecast that Arista Networks, Inc. will post 2.2 earnings per share for the current 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.