Arista Networks, Inc. (NYSE:ANET) Shares Bought by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC raised its holdings in Arista Networks, Inc. (NYSE:ANET) by 234.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,877 shares of the technology company’s stock after buying an additional 10,424 shares during the period. Kestra Private Wealth Services LLC’s holdings in Arista Networks were worth $3,504,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rakuten Securities Inc. acquired a new stake in Arista Networks in the fourth quarter valued at $35,000. Atticus Wealth Management LLC grew its holdings in shares of Arista Networks by 3,625.0% during the fourth quarter. Atticus Wealth Management LLC now owns 149 shares of the technology company’s stock worth $35,000 after purchasing an additional 145 shares during the last quarter. Larson Financial Group LLC purchased a new position in shares of Arista Networks during the third quarter worth about $28,000. Sandy Spring Bank grew its holdings in shares of 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. Finally, First Command Advisory Services Inc. purchased a new position in shares of Arista Networks during the third quarter worth about $29,000. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Arista Networks news, CEO Jayshree Ullal sold 87,418 shares of Arista Networks stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at approximately $4,929,639.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Arista Networks news, CEO Jayshree Ullal sold 87,418 shares of Arista Networks stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 17,681 shares of the company’s stock, valued at approximately $4,929,639.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles H. Giancarlo sold 2,000 shares of Arista Networks stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $286.52, for a total transaction of $573,040.00. Following the completion of the sale, the director now directly owns 60,946 shares of the company’s stock, valued at $17,462,247.92. The disclosure for this sale can be found here. Insiders sold 332,514 shares of company stock worth $95,369,397 in the last ninety days. Insiders own 18.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Oppenheimer reaffirmed a “market perform” rating on shares of Arista Networks in a report on Tuesday, February 13th. Needham & Company LLC reissued a “buy” rating and set a $320.00 price target on shares of Arista Networks in a report on Tuesday, February 13th. JMP Securities reissued a “market outperform” rating and set a $325.00 price target on shares of Arista Networks in a report on Tuesday, February 13th. Evercore ISI reissued an “outperform” rating and set a $300.00 price target on shares of Arista Networks in a report on Wednesday, March 27th. Finally, Melius raised Arista Networks from a “hold” rating to a “buy” rating in a report on Monday, January 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Arista Networks presently has a consensus rating of “Moderate Buy” and an average target price of $275.59.

Arista Networks Price Performance

Shares of Arista Networks stock opened at $256.56 on Wednesday. Arista Networks, Inc. has a 1 year low of $131.68 and a 1 year high of $307.74. The company has a market capitalization of $80.46 billion, a P/E ratio of 39.05, a P/E/G ratio of 2.26 and a beta of 1.09. The business has a 50 day moving average price of $279.07 and a 200 day moving average price of $248.57.

Arista Networks (NYSE:ANET) last issued its quarterly earnings data on Monday, February 12th. The technology company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $1.53 billion. During the same period in the previous year, the firm posted $1.25 EPS. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. As a group, research analysts expect that Arista Networks, Inc. will post 6.7 EPS for the current fiscal year.

Arista Networks Company 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.