SRS Capital Advisors Inc. Increases Stock Holdings in Arista Networks, Inc. (NYSE:ANET)

SRS Capital Advisors Inc. boosted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 356.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,300 shares of the technology company’s stock after acquiring an additional 1,015 shares during the period. SRS Capital Advisors Inc.’s holdings in Arista Networks were worth $144,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ANET. MidAtlantic Capital Management Inc. purchased a new position in shares of Arista Networks during the 3rd quarter valued at $44,000. True Wealth Design LLC grew its position in Arista Networks by 2,133.3% during the third quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after buying an additional 128 shares in the last quarter. Anchor Investment Management LLC increased its stake in Arista Networks by 35.0% in the 3rd quarter. Anchor Investment Management LLC now owns 135 shares of the technology company’s stock worth $52,000 after acquiring an additional 35 shares during the last quarter. Transcendent Capital Group LLC raised its holdings in shares of Arista Networks by 75.0% in the 3rd quarter. Transcendent Capital Group LLC now owns 175 shares of the technology company’s stock valued at $67,000 after acquiring an additional 75 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its position in shares of Arista Networks by 52.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 183 shares of the technology company’s stock valued at $70,000 after acquiring an additional 63 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

Insider Buying and Selling

In other news, CEO Jayshree Ullal sold 138,351 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $93.88, for a total value of $12,988,391.88. Following the completion of the sale, the chief executive officer now directly owns 92,641 shares of the company’s stock, valued at approximately $8,697,137.08. This trade represents a 59.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles H. Giancarlo sold 8,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $89.03, for a total transaction of $712,240.00. Following the transaction, the director now owns 147,784 shares in the company, valued at $13,157,209.52. This represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 491,289 shares of company stock valued at $51,018,617 over the last ninety days. 3.54% of the stock is owned by insiders.

Arista Networks Stock Performance

NYSE:ANET opened at $87.83 on Thursday. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57. The firm has a market cap of $110.76 billion, a PE ratio of 39.56, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. The business has a 50 day moving average price of $110.13 and a 200-day moving average price of $102.14.

Arista Networks (NYSE:ANET) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. Arista Networks had a net margin of 40.72% and a return on equity of 29.91%. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.90 billion. Research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. StockNews.com cut shares of Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Needham & Company LLC reiterated a “buy” rating and issued a $145.00 target price on shares of Arista Networks in a research report on Wednesday, February 19th. Barclays raised their price target on Arista Networks from $125.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. The Goldman Sachs Group lifted their price target on Arista Networks from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, Rosenblatt Securities reiterated a “sell” rating and set a $80.00 price objective on shares of Arista Networks in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $114.00.

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.