Planned Solutions Inc. Acquires New Position in Arista Networks, Inc. (NYSE:ANET)

Planned Solutions Inc. purchased a new stake in shares of Arista Networks, Inc. (NYSE:ANET) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,315 shares of the technology company’s stock, valued at approximately $310,000.

Several other institutional investors have also added to or reduced their stakes in the business. Larson Financial Group LLC purchased a new position in shares of Arista Networks in the 3rd quarter worth $28,000. First Command Advisory Services Inc. purchased a new stake in shares of Arista Networks in the 3rd quarter worth $29,000. Hollencrest Capital Management bought a new position in Arista Networks in the 1st quarter worth $30,000. BluePath Capital Management LLC purchased a new stake in Arista Networks in the third quarter worth about $33,000. Finally, NBC Securities Inc. purchased a new stake in Arista Networks in the 3rd quarter worth approximately $33,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

Arista Networks Stock Performance

NYSE:ANET opened at $288.41 on Thursday. The stock has a market capitalization of $90.17 billion, a P/E ratio of 43.90, a P/E/G ratio of 2.57 and a beta of 1.10. The company’s 50-day simple moving average is $274.45 and its 200-day simple moving average is $232.99. Arista Networks, Inc. has a fifty-two week low of $131.68 and a fifty-two week high of $307.74.

Arista Networks (NYSE:ANET) last posted its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.38. Arista Networks had a return on equity of 31.44% and a net margin of 35.62%. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter last year, the firm earned $1.25 EPS. The business’s quarterly revenue was up 20.8% on a year-over-year basis. On average, research analysts forecast that Arista Networks, Inc. will post 6.63 EPS for the current year.

Insider Transactions at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 87,418 shares of Arista Networks stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $278.81, for a total transaction of $24,373,012.58. Following the completion of the sale, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $4,929,639.61. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Marc Taxay sold 1,040 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $234.00, for a total transaction of $243,360.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jayshree Ullal sold 87,418 shares of Arista Networks stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $278.81, for a total value of $24,373,012.58. Following the transaction, the chief executive officer now owns 17,681 shares of the company’s stock, valued at approximately $4,929,639.61. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 286,084 shares of company stock worth $79,741,091. Company insiders own 18.99% of the company’s stock.

Wall Street Analyst Weigh In

ANET has been the topic of several recent analyst reports. Citigroup lifted their target price on Arista Networks from $220.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, December 14th. Barclays increased their price objective on shares of Arista Networks from $272.00 to $311.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. Morgan Stanley upped their price objective on Arista Networks from $230.00 to $272.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. The Goldman Sachs Group raised their target price on shares of Arista Networks from $313.00 to $356.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, Rosenblatt Securities raised their price objective on Arista Networks from $230.00 to $330.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, Arista Networks has a consensus rating of “Moderate Buy” and a consensus target price of $275.59.

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.