Bfsg LLC Takes $886,000 Position in Arista Networks, Inc. (NYSE:ANET)

Bfsg LLC bought a new stake in Arista Networks, Inc. (NYSE:ANET) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,764 shares of the technology company’s stock, valued at approximately $886,000.

A number of other hedge funds have also modified their holdings of the business. Sandy Spring Bank increased its position in Arista Networks by 33.6% during the fourth quarter. Sandy Spring Bank now owns 155 shares of the technology company’s stock worth $37,000 after purchasing an additional 39 shares during the last quarter. Venturi Wealth Management LLC increased its position in shares of Arista Networks by 2.3% during the fourth quarter. Venturi Wealth Management LLC now owns 1,839 shares of the technology company’s stock valued at $433,000 after acquiring an additional 41 shares during the last quarter. PDS Planning Inc increased its position in shares of Arista Networks by 3.1% during the fourth quarter. PDS Planning Inc now owns 1,376 shares of the technology company’s stock valued at $324,000 after acquiring an additional 41 shares during the last quarter. Purus Wealth Management LLC increased its position in shares of Arista Networks by 0.5% during the fourth quarter. Purus Wealth Management LLC now owns 8,619 shares of the technology company’s stock valued at $2,030,000 after acquiring an additional 43 shares during the last quarter. Finally, Congress Park Capital LLC increased its position in shares of Arista Networks by 0.6% during the fourth quarter. Congress Park Capital LLC now owns 7,739 shares of the technology company’s stock valued at $1,823,000 after acquiring an additional 43 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Arista Networks

In other Arista Networks news, CEO Jayshree Ullal sold 22,000 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $303.00, for a total value of $6,666,000.00. Following the transaction, the chief executive officer now directly owns 1,665,300 shares in the company, valued at approximately $504,585,900. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Jayshree Ullal sold 22,000 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $303.00, for a total transaction of $6,666,000.00. Following the transaction, the chief executive officer now directly owns 1,665,300 shares in the company, valued at approximately $504,585,900. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Kenneth Duda sold 20,000 shares of the stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $290.05, for a total transaction of $5,801,000.00. Following the transaction, the senior vice president now owns 3,244 shares in the company, valued at $940,922.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 334,227 shares of company stock worth $95,828,875. Corporate insiders own 18.99% of the company’s stock.

Arista Networks Trading Up 1.4 %

Shares of NYSE:ANET traded up $3.59 on Wednesday, reaching $254.77. 2,586,493 shares of the company were exchanged, compared to its average volume of 2,469,119. Arista Networks, Inc. has a 1-year low of $131.68 and a 1-year high of $307.74. The firm has a market cap of $79.65 billion, a price-to-earnings ratio of 38.85, a price-to-earnings-growth ratio of 2.10 and a beta of 1.09. The company has a 50-day moving average of $279.29 and a 200-day moving average of $246.19.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results 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 net margin of 35.62% and a return on equity of 31.44%. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the company posted $1.25 EPS. The business’s revenue for the quarter was up 20.8% on a year-over-year basis. As a group, analysts forecast that Arista Networks, Inc. will post 6.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ANET shares. KeyCorp lifted their price objective on shares of Arista Networks from $232.00 to $287.00 and gave the company an “overweight” rating in a report on Thursday, January 18th. Needham & Company LLC restated a “buy” rating and issued a $320.00 price objective on shares of Arista Networks in a report on Tuesday, February 13th. Evercore ISI restated an “outperform” rating and issued a $300.00 price objective on shares of Arista Networks in a report on Wednesday, March 27th. The Goldman Sachs Group boosted their price target on shares of Arista Networks from $313.00 to $356.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, Barclays boosted their price objective on shares of Arista Networks from $272.00 to $311.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Arista Networks currently has a consensus rating of “Moderate Buy” and a consensus price target 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.