Robbins Farley Has $4.77 Million Stock Position in Arista Networks, Inc. (NYSE:ANET)

Robbins Farley raised its holdings in Arista Networks, Inc. (NYSE:ANET) by 493.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,120 shares of the technology company’s stock after buying an additional 35,859 shares during the quarter. Arista Networks accounts for 2.3% of Robbins Farley’s investment portfolio, making the stock its 17th largest holding. Robbins Farley’s holdings in Arista Networks were worth $4,766,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. acquired a new position in Arista Networks in the third quarter valued at approximately $44,000. HM Payson & Co. increased its holdings in shares of Arista Networks by 28.2% during the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after acquiring an additional 29 shares in the last quarter. True Wealth Design LLC increased its holdings in shares of Arista Networks by 2,133.3% during the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock valued at $51,000 after acquiring an additional 128 shares in the last quarter. Anchor Investment Management LLC increased its holdings in shares of Arista Networks by 35.0% during the third quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock valued at $52,000 after acquiring an additional 35 shares in the last quarter. Finally, ORG Partners LLC increased its holdings in shares of Arista Networks by 186.0% during the third quarter. ORG Partners LLC now owns 143 shares of the technology company’s stock valued at $55,000 after acquiring an additional 93 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Arista Networks Price Performance

Shares of NYSE:ANET opened at $115.43 on Thursday. The company has a market capitalization of $145.41 billion, a PE ratio of 55.49, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. The business has a fifty day moving average price of $112.28 and a two-hundred day moving average price of $99.36. Arista Networks, Inc. has a 1 year low of $60.08 and a 1 year high of $133.57.

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

Insider Activity

In related news, CEO Jayshree Ullal sold 71,036 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $100.06, for a total transaction of $7,107,506.98. Following the sale, the chief executive officer now owns 70,724 shares of the company’s stock, valued at approximately $7,076,289.82. This represents a 50.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles H. Giancarlo sold 8,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $112.02, for a total value of $896,160.00. Following the sale, the director now directly owns 155,784 shares in the company, valued at $17,450,923.68. This trade represents a 4.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 255,832 shares of company stock valued at $28,538,497 in the last 90 days. Insiders own 3.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. The Goldman Sachs Group boosted their price objective on Arista Networks from $120.00 to $135.00 and gave the company a “buy” rating in a report on Friday, January 17th. Evercore ISI boosted their price objective on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Morgan Stanley boosted their price objective on Arista Networks from $102.50 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Rosenblatt Securities upped their price target on Arista Networks from $66.25 to $80.00 and gave the stock a “sell” rating in a report on Friday, November 8th. Finally, Barclays decreased their price target on Arista Networks from $495.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, December 4th. One 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. According to data from MarketBeat, Arista Networks presently has an average rating of “Moderate Buy” and a consensus price target of $105.83.

About Arista Networks

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.