IFP Advisors Inc Has $671,000 Stake in Arista Networks, Inc. (NYSE:ANET)

IFP Advisors Inc lifted its position in shares of Arista Networks, Inc. (NYSE:ANET) by 319.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 6,069 shares of the technology company’s stock after purchasing an additional 4,623 shares during the period. IFP Advisors Inc’s holdings in Arista Networks were worth $671,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Capital Advisors Ltd. LLC raised its position in shares of Arista Networks by 335.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 248 shares of the technology company’s stock worth $27,000 after purchasing an additional 191 shares during the period. Colonial River Investments LLC raised its position in shares of Arista Networks by 327.6% during the fourth quarter. Colonial River Investments LLC now owns 9,745 shares of the technology company’s stock worth $1,077,000 after purchasing an additional 7,466 shares during the period. Birchcreek Wealth Management LLC raised its position in Arista Networks by 207.0% in the 4th quarter. Birchcreek Wealth Management LLC now owns 4,661 shares of the technology company’s stock valued at $515,000 after buying an additional 3,143 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Arista Networks by 283.1% in the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 224,084 shares of the technology company’s stock valued at $24,768,000 after buying an additional 165,588 shares during the last quarter. Finally, Sigma Investment Counselors Inc. raised its position in Arista Networks by 304.6% in the 4th quarter. Sigma Investment Counselors Inc. now owns 44,845 shares of the technology company’s stock valued at $4,957,000 after buying an additional 33,760 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Arista Networks

In other Arista Networks news, Director Kelly Bodnar Battles sold 1,488 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $107.13, for a total value of $159,409.44. Following the completion of the transaction, the director now owns 8,128 shares in the company, valued at $870,752.64. This trade represents a 15.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John F. Mccool sold 17,433 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $96.57, for a total value of $1,683,504.81. The disclosure for this sale can be found here. In the last 90 days, insiders sold 433,441 shares of company stock worth $46,538,462. 3.54% of the stock is owned by company insiders.

Arista Networks Stock Performance

ANET stock opened at $93.10 on Friday. The company has a market capitalization of $117.41 billion, a price-to-earnings ratio of 41.94, a PEG ratio of 3.10 and a beta of 1.09. Arista Networks, Inc. has a fifty-two week low of $60.08 and a fifty-two week high of $133.57. The stock has a fifty day moving average of $111.80 and a 200-day moving average of $102.08.

Arista Networks (NYSE:ANET) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.02. The company 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%. Equities analysts predict that Arista Networks, Inc. will post 2.2 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on ANET. Wells Fargo & Company increased their price target on Arista Networks from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Citigroup increased their price target on Arista Networks from $115.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. StockNews.com lowered Arista Networks from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Evercore ISI increased their price target on Arista Networks from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Finally, UBS Group increased their price target on Arista Networks from $106.00 to $112.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Arista Networks presently has an average rating of “Moderate Buy” and an average price target of $113.79.

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.