Roberts Glore & Co. Inc. IL Raises Stock Position in Arista Networks, Inc. (NYSE:ANET)

Roberts Glore & Co. Inc. IL grew its holdings in shares of Arista Networks, Inc. (NYSE:ANET) by 287.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,412 shares of the technology company’s stock after purchasing an additional 24,037 shares during the period. Arista Networks comprises about 1.1% of Roberts Glore & Co. Inc. IL’s portfolio, making the stock its 20th biggest position. Roberts Glore & Co. Inc. IL’s holdings in Arista Networks were worth $3,582,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Zions Bancorporation N.A. increased its stake in Arista Networks by 6.9% during the third quarter. Zions Bancorporation N.A. now owns 417 shares of the technology company’s stock worth $160,000 after purchasing an additional 27 shares during the period. Intellectus Partners LLC increased its stake in shares of Arista Networks by 1.4% during the third quarter. Intellectus Partners LLC now owns 1,927 shares of the technology company’s stock worth $740,000 after buying an additional 27 shares during the period. Altman Advisors Inc. increased its stake in shares of Arista Networks by 0.5% during the third quarter. Altman Advisors Inc. now owns 5,862 shares of the technology company’s stock worth $2,250,000 after buying an additional 28 shares during the period. Anchor Investment Management LLC increased its stake 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 worth $52,000 after buying an additional 35 shares during the period. Finally, Freedom Investment Management Inc. increased its stake in shares of Arista Networks by 2.3% during the third quarter. Freedom Investment Management Inc. now owns 1,621 shares of the technology company’s stock worth $622,000 after buying an additional 36 shares during the period. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Trading Down 1.2 %

ANET stock opened at $83.31 on Friday. The company has a market capitalization of $105.07 billion, a P/E ratio of 37.53, a PEG ratio of 3.10 and a beta of 1.08. Arista Networks, Inc. has a twelve month low of $60.08 and a twelve month high of $133.57. The business has a 50 day simple moving average of $108.92 and a 200-day simple moving average of $102.08.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data 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. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. Research analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current fiscal year.

Insider Activity

In related news, insider John F. Mccool sold 288 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $108.70, for a total transaction of $31,305.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jayshree Ullal sold 138,351 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $93.88, for a total value of $12,988,391.88. Following 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 represents a 59.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 411,289 shares of company stock valued at $42,355,417. 3.54% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ANET. StockNews.com lowered shares of Arista Networks from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Barclays upped their target price on shares of Arista Networks from $125.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Evercore ISI upped their target price on shares of Arista Networks from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. The Goldman Sachs Group upped their target price on shares of 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 restated a “sell” rating and set a $80.00 target price on shares of Arista Networks in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Arista Networks currently has an average rating of “Moderate Buy” and a consensus price target of $114.00.

Arista Networks Profile

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.