Arista Networks, Inc. $ANET Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its stake in Arista Networks, Inc. (NYSE:ANET) by 5.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 288,438 shares of the technology company’s stock after acquiring an additional 14,456 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Arista Networks were worth $38,138,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ANET. Norges Bank bought a new stake in Arista Networks in the second quarter valued at about $1,228,177,000. Massachusetts Financial Services Co. MA lifted its holdings in Arista Networks by 2,829.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,721,156 shares of the technology company’s stock worth $833,630,000 after buying an additional 5,525,828 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Arista Networks by 82.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 9,587,115 shares of the technology company’s stock worth $1,396,939,000 after acquiring an additional 4,332,659 shares in the last quarter. Holocene Advisors LP acquired a new position in shares of Arista Networks in the 2nd quarter worth approximately $247,451,000. Finally, Schroder Investment Management Group increased its holdings in shares of Arista Networks by 14.8% in the 2nd quarter. Schroder Investment Management Group now owns 10,494,124 shares of the technology company’s stock valued at $1,073,654,000 after acquiring an additional 1,350,593 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling

In other Arista Networks news, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $128.67, for a total transaction of $1,029,360.00. Following the sale, the director owned 1,784 shares in the company, valued at approximately $229,547.28. The trade was a 81.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Yvonne Wassenaar sold 1,395 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $134.34, for a total transaction of $187,404.30. Following the sale, the director directly owned 11,179 shares of the company’s stock, valued at $1,501,786.86. This represents a 11.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 199,632 shares of company stock valued at $26,936,324. 3.54% of the stock is owned by insiders.

Arista Networks Trading Up 3.6%

Arista Networks stock opened at $135.98 on Tuesday. Arista Networks, Inc. has a 52 week low of $59.43 and a 52 week high of $164.94. The stock has a market cap of $170.87 billion, a price-to-earnings ratio of 49.27, a PEG ratio of 2.32 and a beta of 1.46. The company’s 50-day moving average price is $135.61 and its two-hundred day moving average price is $137.24.

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

Analyst Ratings Changes

Several research firms recently issued reports on ANET. Morgan Stanley reissued an “overweight” rating and set a $165.00 price target on shares of Arista Networks in a research report on Friday, February 13th. Wells Fargo & Company boosted their target price on shares of Arista Networks from $175.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. The Goldman Sachs Group reissued a “buy” rating and set a $188.00 target price (up from $165.00) on shares of Arista Networks in a report on Friday, February 13th. Rosenblatt Securities raised their price target on shares of Arista Networks from $140.00 to $165.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Finally, Evercore reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Arista Networks in a report on Friday, February 13th. Eighteen investment 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, the stock has an average rating of “Moderate Buy” and an average price target of $176.47.

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.