BLB&B Advisors LLC Has $16.46 Million Holdings in Arista Networks, Inc. (NYSE:ANET)

BLB&B Advisors LLC grew its holdings in Arista Networks, Inc. (NYSE:ANET) by 289.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 148,942 shares of the technology company’s stock after acquiring an additional 110,667 shares during the period. Arista Networks comprises 0.8% of BLB&B Advisors LLC’s holdings, making the stock its 28th biggest position. BLB&B Advisors LLC’s holdings in Arista Networks were worth $16,463,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. MidAtlantic Capital Management Inc. acquired a new stake in Arista Networks during the 3rd quarter valued at $44,000. HM Payson & Co. raised its position in shares of Arista Networks by 28.2% in the third quarter. HM Payson & Co. now owns 132 shares of the technology company’s stock valued at $51,000 after purchasing an additional 29 shares during the period. True Wealth Design LLC lifted its stake in shares of Arista Networks by 2,133.3% during the 3rd quarter. True Wealth Design LLC now owns 134 shares of the technology company’s stock worth $51,000 after buying an additional 128 shares during the last quarter. Anchor Investment Management LLC boosted its holdings in shares of Arista Networks by 35.0% during the 3rd 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, ORG Partners LLC grew its stake in Arista Networks by 186.0% in the 3rd quarter. ORG Partners LLC now owns 143 shares of the technology company’s stock valued at $55,000 after buying an additional 93 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

Arista Networks Price Performance

NYSE ANET opened at $118.52 on Friday. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57. The business has a fifty day moving average price of $112.87 and a two-hundred day moving average price of $99.58. The stock has a market capitalization of $149.31 billion, a PE ratio of 56.98, a PEG ratio of 3.10 and a beta of 1.09.

Arista Networks (NYSE:ANET) last released its quarterly earnings data on Thursday, November 7th. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.08. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. Arista Networks had a return on equity of 30.52% and a net margin of 40.29%. Arista Networks’s revenue was up 20.0% compared to the same quarter last year. During the same period last year, the firm posted $0.41 earnings per share. As a group, sell-side analysts expect that Arista Networks, Inc. will post 1.97 earnings per share for the current year.

Insider Transactions at Arista Networks

In other news, SVP Kenneth Duda sold 80,000 shares of Arista Networks stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $118.47, for a total transaction of $9,477,600.00. Following the sale, the senior vice president now directly owns 12,976 shares of the company’s stock, valued at approximately $1,537,266.72. This trade represents a 86.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Charles H. Giancarlo sold 2,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $412.65, for a total value of $825,300.00. Following the sale, the director now owns 42,946 shares in the company, valued at approximately $17,721,666.90. This trade represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 255,832 shares of company stock valued at $28,538,497. 3.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ANET. Piper Sandler restated a “neutral” rating and set a $105.25 price objective (up previously from $86.25) on shares of Arista Networks in a report on Friday, November 8th. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a report on Thursday, December 12th. Wells Fargo & Company lifted their target price on Arista Networks from $97.50 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Evercore ISI upped their price target on shares of Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Finally, Morgan Stanley lifted their price objective on shares of Arista Networks from $102.50 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Arista Networks has an average rating of “Moderate Buy” and a consensus price target of $105.83.

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.